Money Management Executive Latest News

Federal Reserve Delays Purchases of Money Funds' Short-Term Debt

LAS VEGAS - Lately, fund marketing and technology executives feel as if they have been bombarded with a barrage of data from their customer relationship management (CRM) systems, but their biggest challenge is finding quick, easy and cheap ways to access that data and make it relevant.

With investors moving so much money into cash and cash-equivalent instruments to avoid the continually downward spiraling stock market, it has never been more important in the history of modern investing for mutual fund companies to reach advisers and investors with forceful yet honest messages about the value of long-term investing and areas of the market that are safe, outpacing benchmarks or, perchance, even delivering positive returns.

LAS VEGAS - A recession may seem like an odd time for a renaissance in technology, but the need to cost-effectively share information and brainstorm for solutions has never been greater.

The Securities and Exchange Commission will not revisit 12b-1 fees by the end of the year, Andrew Donohue, director of the division of investment management, told Reuters.

The President’s Working Group on Financial Markets is looking at ways to better understand and regulate derivatives and credit default swaps, which essentially are insurance on corporate debt.

Assets in U.S. money market mutual funds rose by $21.28 billion in the week ended Nov. 12, for a total of $3.637 trillion, the Investment Company Institute said.

The Securities and Exchange Commission will vote at its Nov. 19 meeting next week on a provision to allow shortened mutual fund disclosure statements.

Testifying before the House Oversight and Government Reform Committee onThursday on the role of hedge funds in the credit crisis, five prominent hedge fund executives said they would be in favor of establishing a public exchange or clearinghouse for credit default swaps (CDS)to make that market more transparent.

The fate of many a hedge fund relies on what investors decide to do with their money on Nov. 15, when it is possible an overwhelming majority could ask for their money back by the end of the year, Dow Jones reports.