Money Management Executive Latest News

Morningstar Inc. named three mutual fund managers who were able to continue their records of strong returns and superior leadership despite the market turbulence during the second half of 2007.

With a new presidential administration on the horizon and his final year in office practically a given, Securities and Exchange Commission Chairman Christopher Cox discussed some of his priorities for 2008, USA Today reports.

The best-performing fund category for 2007 was large-cap growth funds, which returned 14.9% compared to large-cap value, which rose 2.7%, the Associated Press reports, citing data from Lipper.

While they’re as varied as the results of the various polls, the presidential candidates are alike on one matter: aversion to discuss the impending retirement and Social Security, Medicare and Medicaid crisis, The Wall Street Journal reports.

In the 61 years that Fidelity has been in business, only two Johnsons have been in control: current Chairman Edward “Ned” Johnson III and his father, who founded the firm. The younger Johnson’s reign doesn’t appear to be poised to end anytime soon, even though the leader is now 77, the Associated Press reports.

For the second year in a row, the number of individual Russian investors doubled, topping 400,000.

In a move to help it pay off bad bets on derivatives, Sallie Mae, the largest student loan lending company in the U.S., announced Thursday it had sold $2 billion of common stock and $1 billion of convertible securities, according to Reuters.

Total money market mutual fund assets fell again last week by $3.82 billion to $3.111 trillion, according to the Investment Company Institute.

The Federal Reserve said that banks in the New York area received about $16.5 billion of the $20 billion in 28-day loans offered this month to ease the global credit crunch, according to Reuters.

Warren Buffett's Berkshire Hathaway Inc. made a deal to buy the NRG NV reinsurance unit of the ING Group for about $441 million, according to Reuters.