Money Management Executive Latest News

Reserve Management's board has set aside $3.5 billion of the remaining assets in its failed Primary Fund to cover costs and expenses for pending lawsuits against the fund.

McCullough to Retire From DST as COO, With Hooley Replacing Him

Putnam Investments will waste no time reinvigorating its defined contribution business, and its long-struggling equity funds will have to earn their way into the mix, according to Robert L. Reynolds, its president and chief executive.

Over the past year, as the S&P 500 has hit 1997 levels, the U.S. gross domestic product shrank 6.2% in the fourth quarter of 2008 and investors' retirement savings have been severed in half, we have hailed the resilience of investors' faith in the markets. Our customers have continued to believe in the soundness of investing in mutual funds, the premise of long-term investing and modern portfolio theory, and the overall wisdom of saving for retirement.

85% of Advisers Believe Recession Will End by 2010

In order to achieve meaningful reform of the financial services industry, Congress should create two key regulatory positions to oversee financial markets, according to a proposal last week by the Investment Company Institute.

Mutual fund companies are finding that it's not too early to start tagging fund data with the international extensible business reporting language (XBRL) code the Securities and Exchange Commission has required them to begin using in July, though companies may find it's easier to outsource the job.

Growth fund managers typically seek out companies whose earnings increase 10% or more a year, but with the economy sagging, those managers are applying metrics they’ve never used before, The Wall Street Journal reports.

With stocks now worth less than 55% of their peak in October 2007—a decline of $11.1 trillion in market wealth—investor sentiment has been shattered and some market experts believe the process of finding the market bottom must begin all over again.

Investors who brought large balances to the table at brokerages or mutual fund companies have enjoyed breakpoints over the past few years. But with the market declining, many of those breakpoints will no longer apply, The Wall Street Journal reports.