Money Management Executive Latest News

The American Medical Association and a startup Internet company called Sermo, which serves 15,000 doctors, are now partnering on the online service for doctors in which they openly discuss new medical developments, trends and patient outcomes—and with another side effect that could benefit fund companies and other investment firms.

The world’s largest asset manager, Man Group, plans to list a hedge fund on the New York Stock Exchange for the first time, in a ploy to get more money from U.S. investors, according to the Wall Street Journal.A trend is occurring in the industry that has hedge fund managers increasing their assets through closed-end fund vehicles that can be bought by both institutional and individual investors and bypass regulatory restrictions on direct hedge-fund investments.

After falling for more than a century, the average retirement age is once again climbing, according to the Bureau of Labor Statistics, Dow Jones reports. Twenty years ago, only 18% of people in their late 60s were still working. Today, that’s 29% and expected to continue to climb.

MFS Investments Chief Executive Officer said he doesn’t expect assets to grow as much as the 20% they climbed in the past 12 months, due to “more normal” market conditions of about 8% a year, Reuters reports. As the firm’s assets hit the $200 billion market in April, the company celebrated by giving each of its employees either $200 or a windbreaker inscribed with the figure.

The Chinese government will punish firms involved in the so-called “backdoor” listing of GF Securites, as it continues to crack down on insider trading and other market irregularities that analysts say are rampant, Reuters reports.

Economists said that even if former Federal Reserve Chairman Alan Greenspan is correct that China’s stock market is headed for a “dramatic correction,” it won’t upset China’s economy or spread to other markets and economies around the globe, Bloomberg reports.

Although the Shanghai composite index tumbled 6.5% on Wednesday following the news that the China’s Ministry of Finance had tripled the stock trading tax to 0.3%, fund managers said they don’t expect the move will entirely stall the country’s exceptional, 1-1/2-year bull run, Reuters reports.

In line with the priorities that Democrats in Congress have set, the 31 Democratic state attorney generals are most likely to shift their focus away from abuses on Wall Street to populist concerns of consumer protection, health and safety, Forbes.com reports.

Socially responsible investing funds are becoming more mainstream, with 401(k) plans and 529s increasingly offering them and more Americans becoming in tune with environmental, governance and social issues, The Wall Street Journal reports.

Aegon will take a 49% stake in Industrial Fund Management, a medium-sized fund manager in China. The company will be renamed Industrial-Aegon Fund Management.