Money Management Executive Latest News

Participants in 401(k) plans over the past 10 years have continued to make the same mistakes, John Hancock found in a recent analysis of returns between 1997 and 2006.

SPA ETF, a provider of indexes and exchange-traded funds in the U.K. began trading six ETFs based on six proprietary indexes on the American Stock Exchange on Wednesday.

Many hedge fund investors in the U.K. are dissatisfied with weak returns over the summer, and are cashing out, the Financial Times reports.

Due to the decline in buy side’s reliance on sell-side investment research and money managers’ increasing interest in automating and aggregating research, the buy side will increase its expected $586 million on research technology this year by 22% a year to $1.1 billion by 2010.

As ProShares prepares to launch a series of international index exchange-traded funds, the company’s CEO, Michael Sapir, spoke with Investor’s Business Daily about the future of the industry, and surprisingly, scoffed at many of the recent trends in the ETF industry.

China’s benchmark Shanghai Composite Index soared above 6,000 for the first time this week, renewing fears that the market, which has increased six times in value in the past two years alone, is about to crash, The Wall Street Journal reports.

Although some of the biggest fund families including Fidelity, Vanguard and American Funds, don’t require their fund managers to have their own money invested in the funds they run, many other fund companies are now requiring their managers to do so, according to the Dow Jones News Service.

Senior citizens advocacy group AARP is launching a national campaign to meet face-to-face with business leaders, civic groups and companies to convince more employers to automatically enroll their workers in 401(k) plans, the Associated Press reports.

In a poll of 100 hedge funds and hedge funds-of-funds with $900 billion in assets under management, Ernst & Young found that 80% expect incentive fees to go down within two years, and 72% expect management fees to decrease, Dow Jones reports.

William Blair & Co. has introduced the William Blair Global Growth Fund, which George Greig, head of the firm’s international team for the past 11 years, will manage.