- Money Management Executive
A mere 25 cattle that Fidelity keeps on a small “working ranch” portion of 300 acres it owns on its Westlake, Texas, campus qualifies the firm for $360,000 a year in real estate tax breaks, tax appraisers tell the Boston Herald.
May 14 - Money Management Executive
Power Financial CEO Jeffrey Orr told attendees at the firm’s annual meeting that Putnam Investments is back on track, but that its profit margins won’t reach industry levels for a year or two, the Montreal Gazette reports.“One of the strongest pieces of evidence that the company’s affairs are strengthening is that the redemption rate has how reached the industry level,” Orr said. “It’s not like money is flowing out of Putnam faster than other companies. The challenge right now is to get more gross sales.”
May 14 - Money Management Executive
Exchange-traded funds will continue to expand, fund executives said at the Investment Company Institute’s General Membership Meeting last week, Dow Jones reports.
May 14 - Money Management Executive
U.S. House Financial Service Committee Chairman Barney Frank (D-Mass.) said Friday that the panel will hold hearings to examine the Securities and Exchange Commission next month, Bloomberg reports. All five SEC commissioners, including Chairman Christopher Cox, will be called to testify.
May 14 -
The NASD fined two Fidelity Investments broker/dealers-Fidelity Investments Institutional Services Co. and Fidelity Distributors Corp.-$400,000 for distributing misleading performance information about investment plans sold primarily to military personnel.
May 14 - Money Management Executive
WASHINGTON-Securities and Exchange Commission Chairman Christopher Cox renewed his battle cry in "the war against complexity" and reminded mutual fund executives that the weapon that will help win the war continues to be technology.
May 14 - Money Management Executive
WASHINGTON-The financial industry should pay close attention to what consumers are saying about it and look for niche product opportunities, according to Chris Anderson, editor-in-chief of Wired magazine and author of the book "The Long Tail: Why the Future of Business is Selling Less of More" (Hyperion Books, 2006).
May 14 -
Details of the sale of BISYS Group of Roseland, N.J., to bank holding company Citigroup of New York for a total of $1.47 billion are intriguing.
May 14 -
China's equity market has reached such a frenzy of irrational exuberance that Chinese authorities are not the only ones sounding warnings about the market becoming overheated.
May 14 -