- Money Management Executive
Thomas R. Smith, Jr., a leading mutual fund attorney, has joined the Securities and Exchange Commission’s division of investment management as senior advisor to Director Andrew J. Donohue.
June 6 - Money Management Executive
Dow Jones Columnist Bill Donoghue says that separately managed accounts are worth the fee, calling the tools “one of the best-kept secrets in America.”
June 6 - Money Management Executive
Two former fund managers at Putnam Investments will pay $1.5 million to settle allegations they improperly traded mutual fund shares, the SEC and Massachusetts announced Monday. Justin Scott and Omid Kamshad neither admitted nor denied the allegations.
June 6 - Money Management Executive
The American Federation of State, County and Municipal Employees released a report Tuesday calling AllianceBernstein, Barclays Global Investors and AIM “pay enablers.”
June 6 - Money Management Executive
Putting to rest rumors that Citigroup would sell Financial Research Corp. after acquiring BISYS, a Citi official said that the company would not do so, Reuters reports.
June 5 - Money Management Executive
Principal Financial has rolled out a new retirement savings platform aimed at the micro-market. Called Principal Advantage for Emerging Businesses, it is designed for companies with up to $500,000 in retirement plan assets and will be sold exclusively through third-party administrators.
June 5 - Money Management Executive
Financial Planners are turning their attention to a long-neglected demographic: those in their 20s and 30s, The Wall Street Journal reports. They had previously ignored young people due to their paltry finances.
June 5 - Money Management Executive
As private equity firms continue to buy up publicly traded companies, they are increasingly trying to appease mutual fund companies and other stockholders that could halt the deal, The Wall Street Journal reports.
June 5 - Money Management Executive
Shares of Janus and Eaton Vance have outpaced all other asset managers over the past three months, Reuters reports. While the two companies take entirely different investment approaches—Janus primarily known for large-cap growth and Eaton Vance for tax-managed and other conservative strategies—what’s driving their strong returns is expectations of robust earnings growth.
June 5 - Money Management Executive
As the number of hedge funds continues to expand, the opportunities to short stocks is shrinking, MarketWatch reports. According to some estimates, the percentage of shares sold short on the New York Stock Exchange has doubled since 2000 to about $500 billion a year.
June 5