Money Management Executive Latest News

A retirement guide for women that the Heinz Family Philanthropies and the Women's Institute for a Secure Retirement issued last week brought to light some startling facts.

Morningstar Taps Cooley As Chief Financial Officer

U.S. retail investors have had a growing appetite for hedge funds, and now European investors will get the chance to test the waters in these high-return, sometimes risky investments, as Spain is the first European country to introduce retail investors to hedge funds, according to Boston-based consultancy firm Aite Group.

A new, unconventional mutual fund debuted last week that will invest in the scorching-hot private equity market.

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.

If the Vice Fund is any indication, sin is in. Since the beginning of the year, the fund, which invests in the gaming industry, alcoholic beverage makers, tobacco companies and defense contracts, has posted a 23% gain, the Las Vegas Review-Journal reports.

Domestic growth funds outpaced value in all categories in the second quarter, Investor’s Business Daily reports.

The Australian financial services industry would be wise to look to expand in Japan, Richard Gilbert, head of Australia’s Investment and Financial Services Association, told Kyodo News.

The European mutual funds industry could save $340 million a year, or 250 million Euros, if it were to streamline its trading, settlement and cross-border custody systems, according to a report by Deloitte & Touche.

Rhode Island has fined Morgan Stanley $250,000 for not supervising two Providence brokers who, regulators said, engaged in unethical and dishonest practices when selling mutual funds and variable annuities, Reuters reports.