Money Management Executive Latest News

JPMorgan announced Monday that it is buying Integrated Investment Services from Western & Southern Financial Group. Terms of the deal, which is expected to close in the second quarter, were not disclosed.IIS provides fund accounting, fund administration and transfer agency services. The acquisition adds TA services to JPMorgan’s fund services suite, which also includes compliance reporting and investment analytics.

American Century Investments acquired the mutual fund assets of Minneapolis-based Kopp Investment Advisors Monday. Terms of the deal were not disclosed, but the Kansas City, Mo.-based shop has merged the small-cap Kopp Emerging Growth Fund into the American Century New Opportunities II Fund, and assets of the large-cap Kopp Total Quality Management Fund into the American Century Equity Growth Fund.Together, the acquisitions represent $225 million in new assets for American Century. The boards of both companies unanimously approved the transaction.

A federal bankruptcy judge ruled that investors in Bayou Management, a collapsed, fraudulent hedge fund, are able to sue investors who cashed out before the fund failed in 2005, according to The Wall Street Journal.

In response to a survey of members of Generation X—500 people between age 25 and 40—that indicated 24% are hesitant to open an IRA because they don’t have enough money for the minimum investment, Charles Schwab has devised a number of recommendations for how they can save money.

MIAMI-John Bogle, founder and former chief executive of Vanguard, recalled his first speech before The National Investment Company Service Association's Annual Conference & Expo in 1977, when he predicted a shareholder revolution. While that hasn't happened, he told this year's conference last Tuesday, he believes a shift in mindset is, nonetheless, underway.

MIAMI-The economy may be going global, but it's not quite business-without-borders yet, according to panelists at The National Investment Company Service Association's 25th Anniversary Annual Conference & Expo here last week.

MIAMI-Because the threat of a pandemic occurring is real and the question is when it will happen, not if, "companies are legally required to have a business continuity plan in place," said Jim Coppedge, general counsel at AIM Investment Services, during a panel last week at The National Investment Company Service Association's 25th Anniversary Annual Conference & Expo here.

It's been nearly one year since Reserve Management, advisor to The Reserve family of money funds and the Hallmark family of funds, first revealed it had inadvertently allowed both the investment advisory and 12b-1 distribution contracts on the majority of its mutual funds to lapse, in some cases since 1997 (see MME 3/13/06).

A TD Ameritrade survey of 674 investors indicated that half of retail investors see the best returns in 2007 coming from markets outside of the United States, the company's Chief Executive Joe Moglia said during an interview with CNBC.

Lehman Brothers and Fidelity Investments announced last Wednesday that they have linked their electronic trading platforms.