Money Management Executive Latest News

Canadian regulators have given a new name to the “prospectus profile,” an idea that has been knocked around in the U.S. over the past eight years.

Fidelity Investments on Wednesday launched a suite of retirement income products and tools aimed at individual investors and advisers. The suite includes a new family of 11 retirement income mutual funds-of-funds spanning from 2016 to 2036 and a low-cost, deferred variable annuity with an income guarantee.

Fund companies continue to exhibit abysmal voting records on proxies supported by shareholders, Reuters reports, citing a report from FundVotes.com analyzing proxy voting records at 54 fund groups. Most continue to overwhelmingly side with management.

Fueled by a 45% rise in China’s Shanghai composite stock index and a 25% surge in the Hong Kong Hang Seng, Asia Pacific ex-Japan mutual funds led the charge in the third quarter, with average gains of 7.3%, Morningstar Canada reported.

In recent weeks, advertisements for exchange-traded funds have begun re-appearing in places they have not been since the last freewheeling days of the bull market of the late 1990s: during college football games on TV, in personal finance magazines and even in New York City subway cars.

Although it has a longstanding reputation of protecting the interests of the nation’s senior citizens, AARP is no different from any other profit-seeking organization, maintains Baltimore financial planner Andrew Tignanelli, the Los Angeles Times reports.

After all of the lawsuits and the $2.7 billion in fines, apparently some investors haven’t learned their lesson about market timing mutual funds.

Fidelity Investments paid $660,000 to lobby Congress, the Securities and Exchange Commission and the Department of the Treasury in the first half of the year, the Associated Press reports.

Peter Clarke, chief executive officer of the Man Group, told Reuters that if asset flows to his company are any indication of the outlook for the hedge fund industry, investors will continue to pour assets into hedge funds.

Vanguard is planning to offer three market-neutral funds-of-funds specifically designed for retirees in that they will make regular monthly payments yet preserve the capital and, thereby, continue to expose investors to the markets.