Money Management Executive Latest News

Citi has expanded its proprietary managed accounts connectivity hub with CitiConnect, specifically designed for separately managed accounts (SMAs).

India’s booming fund management industry has started to decline as the Indian stock market has plunged nearly a third so far this year, Reuters reports.

One year after one of the hedge fund industry's most talked-about collapses, failed fund manager Jeffrey Larson is raising capital for a new fund.

Securities and Exchange Commission Chairman Christopher Cox and US Secretary of Labor Elaine L Choa have signed a Memorandum of Understanding (MOU) to formalize and strengthen the cooperation and relationship between their two agencies. The purpose of the MOU is to share information, related to investments and retirement, to help protect Americans’ $5.8 trillion in retirement assets.

Pacific Investment Management Co., or PIMCO, is embarking in the ETF market.

Fund management firm Philam Asset Management Inc. (PAMI), a division of American International Group, is now offering investors a Personal Investment Program (PIP), aimed at offering investors an affordable savings plan for their future.

FundQuest Inc. said 68 advisory firms have made its unified managed account services available to their advisers. The most recent client to sign up is United Planners Financial Services of America, an independent broker/dealer and investment adviser in Scottsdale, Ariz. FundQuest announced its agreement with United Planners on Tuesday.

TIAA-CREF’s ads for its Individual Retirement Accounts inferred that government and military employees who contributed to their Thrift Savings Plan were up against a time clock because the TSPs “retire.” Fidelity’s ads simply call the TSP “old.” TIAA-CREF has pulled its ads, but Fidelity, claiming all of its communications go through legal review, is still running them.

Faith-based mutual funds have experienced significant growth in a short amount of time, increasing from $500 million in 1997, to approximately $17.5 billion today, according to McClatchy-Tribune Information Services.

A year ago, Chinese investors poured their money into mutual funds, believing they would receive huge returns on their investments, Business Times Singapore reports. Since the market bubble began shrinking last October, however, mutual fund investments have declined. Chinese mutual funds have declined 30% in the first half of this year, down 668.8 billion yuan in the first quarter and 413.9 billion yuan in the second quarter.