Money Management Executive Latest News

The Depository Trust and Clearing Corporation (DTCC), the largest financial clearinghouse in the U.S., is in talks to merge with its European rival LCH.Clearnet in a deal worth approximately $950 million.

With losses mounting—the average hedge fund is down 10% this year—hedge fund investors are increasingly looking to head for the exits, and hedge funds are putting up barriers, Dow Jones reports.

Ameriprise Financial is expanding its discretionary mutual fund wrap program through its new Active Diversified Portfolio series, by adding to its line-up of investment managers.

Mutual of Omaha is now offering retirement advice in its 401(k) Toolbox, a service called Manage It For Me.

Morningstar Investment Services is offering three managed account services to provide investors with retirement income at three levels of risk and time ranges.

WASHINGTON – Despite signs of renewed strength in the credit markets, the Federal Reserve Board on Tuesday unveiled a new program to provide more liquidity to money market mutual funds.

State Street Corp.’s Investor Confidence Index declined by about a quarter from 75.7 in September to 58.2 in October. Compared to the sentiment in other regions of the globe, North Americans’ confidence is markedly lower. In Europe, it stands at 79.6, and in Asia, at 86.5.

Ameriprise Financial, which has sued Reserve Funds on charges that the fund company tipped off large institutional investors its Primary Fund had broken the buck, has asked a judge to release taped phone calls to customers on the day before the fund’s NAV fell below $1, Reuters reports.

Eighty-percent of board members at financial services firms believe they need better tools to evaluate investments, PricewaterhouseCoopers’ financial services practice found in a recent survey of financial services audit committee members. They believe that by being better equipped, they could reduce the chance of future industry instability.

Talking about the volatility of the stock market may not be as popular as trading jibes over sports scores, but more investors, certainly, are taking an interest in the incredible gyrations of the market.