Money Management Executive Latest News

With the stock markets doing so well in China and competition heating up, it didn’t take long for fund companies there to realize they might pump up the volume by promising trading commissions to those brokers who sell large volumes of their funds.

While the Securities and Exchange Commission wavers on the nearly three-year contested issue of independent board chairman—seemingly in favor of allowing a lead independent director—Morningstar has just shot off a letter to the SEC urging it to make independent chairmen a requirement.

A follow-up proxy that Reserve Management, the investment advisor to the Reserve Funds and Hallmark Funds, filed with the Securities and Exchange Commission reveals the true cost of the company's error, discovered two years ago.

As technology continues to morph from a businesses support tool to a business development driver, it is also a bigger piece of investment companies' budgets.

The fact that fund companies are increasingly voting their proxies in favor of management proposals may be disappointing to shareholder advocates but it comes as no surprise to them.

The competition to win over financial advisers and their clients is heating up. Two investment management firms, Ameriprise Financial of Minneapolis, and Old Mutual Capital of London and Boston, recently launched multimedia ad campaigns specifically aimed at investment advisers and reps at regional broker/dealers and independent dealers.

American Stock Exchange Promotes Weber, Ebner To EVP, SVP in ETF Unit

Many industry insiders predicted that a Democratic-controlled Congress would turn its attention to 401(k) fees, and, sure enough, the first hearings on the topic took place last week. More than likely, however, the fund industry will fight legislation mandating better disclosure because if that should pressure it to lower 401(k) fees, it would put billions of dollars in annual revenue at stake.

The man who calls himself "The Bishop" and who has sent six threatening letters and two dud pipe bombs over the past 18 months is expected to strike again, the Associated Press reports. One of the pipe bombs was sent to American Century on Jan. 31. Then, on Feb. 1, a similar explosive was found in a Chicago office building.

Advisers this year remain enthusiastic about exchange-traded funds, but reticent when it comes to real estate investment trusts (REITs), according to a survey of independent investment advisers surveyed by Charles Schwab Institutional of San Francisco.