Money Management Executive Latest News

Fidelity Shakes Up Exec Ranks as Reynolds Retires

NEW YORK-No matter what kind of gloom-and-doom statistics financial companies compile about unprepared Baby Boomers' retirement, those that want to sell product should ditch the fire-and-brimstone talk. What Boomers really want to hear is that the best is yet to come.

NEW YORK-Hedge funds can't run or hide from regulators, and the accredited investor, anti-fraud and insider trading rules will be three of the key issues the Securities and Exchange Commission will focus on this year, Bruce Karpati, assistant regional director at the SEC told attendees at the National Investment Company Service Association's "Alternative Investments Conference" here last week.

The Depository Trust & Clearing Corp. has named Douglas J. George managing director and chief risk officer, a new position at the organization.

Claymore Securities added two new exchange-traded-funds to its lineup last week, bringing the total offering to 20.

It will soon be easier for Morningstar customers to receive and analyze fund information.

TIAA-CREF has adjusted the asset allocation in its seven lifecycle funds, increasing the equity exposure from 80% to 90% at the outset and from 35% to 50% in the first 10 years after retirement. At that point, the equity exposure will be reduced to 40%.

Fund companies trying to encourage people to plow their tax refunds into retirement savings accounts such as IRAs will have some stiff competition from debt and everyday consumerism, according to a survey conducted by Visa USA.

Janus Capital reported first-quarter earnings increased 0.8% to $35.6 million, or 19 cents a share, up from $35.3 million, or 17 cents a share, in the year-ago quarter. That met analysts’ expectations of 19 cents a share.

The Securities and Exchange Commission announced Thursday that it has distributed $79 million to current and former customers of Edward Jones that were impacted by its revenue-sharing activity.