Money Management Executive Latest News

Chinese investors’ enthusiasm for stocks and mutual funds continues unabated despite recent market volatility, the Xinhua News Agency reports. On the first trading day that First State Cinda Fund Management introduced a new mutual fund, the fund took in its full sales quota of 9 billion yuan, or $1.1 billion.

Noting that because fees in 401(k) plans are hidden from investors they can be unfairly high—between 3% and 5%—a senior Capitol Hill legislator called for better transparency on Tuesday, Reuters reports.

Sun Life Financial is hoping to reach out to Boomers scared off by the “use it, or lose it” nature of guaranteed annuity income with a new program that allows investors to “store” their income, tax-deferred.

Rydex Investments on Monday launched a managed futures mutual fund and announced it plans to offer more alternative investment offerings.

Mutual funds focused on Japan are popular and are at the top of the international list this year, according to Dow Jones.

Because the first exchange-traded funds to hit the market were based on mainstream indexes, they offered relatively safe investments, but with new ETFs tracking increasingly narrower slices of the equity, commodity and currency markets, that is no longer the case, the Philadelphia Inquirer reports.

Even as the world markets continued to slide on Monday—with $800 billion erased from the U.S. markets since the decline began on Feb. 27—giant money managers said they continue to have faith in the market will rise by more than 10% over the next year, Bloomberg reports.

Analysts at investment banks are giving less time to mutual fund portfolio managers who call them looking for stock insight and more time to hedge funds, Bloomberg reports. The reason is because hedge funds are more lucrative clients, given their needs for prime brokerage, securities loans and complex trades, and managers at investment banks are instructing their analysts to cater to these preferred clients.

A federal judge has dismissed a lawsuit by the Securities and Exchange Commission against two executives at a Citigroup transfer agent who realized nearly $100 million in savings from an affiliated transfer agent but kept the profits for the company rather than to lower fund expenses.

MIAMI-Hedge fund advisors that believe registration has benefits are quickly learning compliance brings plenty of headaches, too.