Money Management Executive Latest News

Callan Joins Credit Suisse As Head of Hedge Funds

The small group of money mangers who possess the ability to outperform the market has virtually disappeared, according to a new study, "False Discoveries in Mutual Fund Performance: Measuring Luck in Estimating Alphas," in which the researchers used a statistical test called the "False Discovery Rate" to measure money managers' capabilities in reading the market.

The growing popularity of fee-based advice is prompting mutual fund companies and other investment platform providers to upgrade the capabilities they offer advisers. Fidelity Investments is rolling out a product that allows registered investment advisors and broker/dealers to gain access to account information through a single entry point. National Planning Holdings, a broker/dealer network affiliated with Jackson National Life Insurance, is overhauling its fee-based platform as well.

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The Depository Trust & Clearing Corp. (DTCC) and the Society for Worldwide Interbank Financial Telecommunication (Swift) are working together to introduce 12 interoperable XML-based message formats to the alternative investment community.

Bad news for the mutual fund industry. The volatile market has stymied the "long haul" game; an increasing number of financial advisers are moving larger portions of their clients' assets into cash positions.

Federal regulators are cracking down on the potential spread of false and misleading rumors that could potentially affect market conditions.

The deadline for entries to Money Management Executive’s Sixth Annual Fund Operations Awards has been extended through Thursday, July 31, so you still have plenty of time to enter.

Citigroup posted a huge second-quarter loss Friday, battered by a big write-down in its investment banking business, but the overall results weren’t as bad as feared and the shares moved sharply higher.

After a sharp fall in the market, assets under management (AUM) within the French mutual fund industry fell 6% last month.