Money Management Executive Latest News

Lundquist Chosen as Head Of JPMorgan RIA Channel

In light of the crisis of confidence in rating agencies following the subprime crisis, the Securities and Exchange Commission will diminish the importance of money market fund managers' reliance on such agencies when investing in short-term debt.

Lately, many frustrated preferred investors have searched for an opportunity to cash in on the subprime crisis and move on. Responding directly to investor woes, several closed-end fund companies like Nuveen Investments and Eaton Vance have scrambled to offer investors a chance to redeem their auction-rate preferred securities.

NEW YORK - The freewheeling days for hedge funds may be numbered.

WASHINGTON - Volatile market conditions and the credit crisis have put the hard brakes on new hedge funds. The number of hedge funds launched in the first quarter was the lowest for a quarter since 2000, while fund liquidations increased from a year earlier.

"I cheated my investors because I was afraid to admit my failure. I did not want the world to think I was not good enough and I did not want my family to see me as a failure."

WELLESLEY, Mass. - Gone are the supposed days when wholesalers stood around conference booths all day, cavalierly handing out golf balls, or taking brokers out for cigars and whiskey. To get through the new "Fund Selection Unit" gatekeepers at brokerage firms, today's wholesalers need not just have excellent people skills and be nimble, but be highly knowledgeable about the mutual funds they are selling, retirement planning issues and the economy, as well as be technologically savvy.

Cash-strapped banks are hoping the Federal Reserve will loosen restrictions keeping private-equity firms from giving them capital, according to The Wall Street Journal.

Hennion and Walsh, a small New Jersey fund firm, is introducing ETFs into 401k plans by wrapping them in mutual funds.

Fred Alger Management has announced its plans to consolidate all of its open-end mutual funds into the Alger brand by September.