Money Management Executive Latest News

Recently, the National Bureau of Economic Research issued a report debunking the theory that as the 77 million Baby Boomers begin to turn 65 in 2011 and cash out of their stock and bond holdings, the markets will spiral into a bear market. The bureau's argument is that 401(k) assets currently represent only a small fraction of people's retirement portfolios, and as 401(k)s continue to grow markedly in coming years, the influx of new investments will buoy the markets.

Hedge fund companies Haidar Capital Management and Haidar Capital Advisors, along with their owner, Said Haidar, have settled mutual fund trading charges by the Securities and Exchange Commission with a fine of $4.58 million. Haidar and his companies, however, neither admitted to nor denied the charges.

James S. Gandolfo, the senior director and vice president in charge of the health savings accounts business at PFPC, a unit of PNC Financial Services Group, has been elected chairman of the American Bankers Association HSA Council.

Second quarter's market performance was impressive due to record mergers and acquisitions, and investors focusing on corporate earnings and not worrying about signs of future inflation or a slowing economy, according to Lipper's second quarter review and outlook webcast last week.

In his 2004 biography of Alexander Hamilton, author Ron Chernow noted that a large part of Hamilton's genius was to erect structures virtually assuring that the nation would grow up with a strong centralized government.

Lord Abbett’s joint venture in China, Lord Abbett China Asset Management, is planning to offer its second mutual fund, a balanced fund that will invest in domestic stocks and bonds, Reuters reports.

XShares Advisors has obtained regulatory relief from the Securities and Exchange Commission on the amount mutual funds can invest in its HealthShares family of exchange-traded funds.

The Securities and Exchange Commission issued its final rule on Thursday to allow mutual funds, beginning Aug. 20, to voluntarily submit their risk/return summaries with extensible business reporting language (XBRL) data tagging.

Rather than chasing performance, as investors tend to do with equity funds, those who hold asset allocation funds tend to hold them longer, and as a result, experience better returns, according to a report from Dalbar, the “2007 Quantitative Analysis of Investor Behavior,” The Wall Street Journal reports.

The U.S. initial public offering market is booming and has raised more capital than any other country thus far this year, according to Australian Financial Review. However the recent concerns surrounding the subprime mortgage market have made some global companies hesitant in offering shares. Blackstone Group’s IPO is the highest deal with $4 billion, which was the biggest in five years in the U.S.