- Money Management Executive
Wells Fargo Funds Management has launched a new emerging markets fund, the Wells Fargo Advantage Emerging Growth Fund. To be managed by portfolio managers Brandon M. Nelson and Thomas C. Ognar, the fund will invest in small-cap companies that they believe will grow faster than the market, using a bottom-up approach.
February 2 - Money Management Executive
The nation’s savings rate fell to negative 1% in 2006, the lowest since the negative 1.5% in 1933, in the middle of the Great Depression, the Associated Press reports.
February 2 - Money Management Executive
Mutual fund managers of global portfolios are exiting developed foreign markets in favor of U.S. stocks, according to MarketWatch.
February 2 - Money Management Executive
Milwuakee-based entrepreneur Timothy M. McCutheon hopes to use his experience drafting 401(k) plans to help the Internal Revenue Service streamline its paperwork.
February 2 - Money Management Executive
Van Eck Global is planning to launch an exchange-traded fund tied to Russia, where the economy surged 6% last year on the strength of rising energy prices and consumer spending, TASS News Agency reports.
February 1 - Money Management Executive
Although some might think the tobacco industry is dying due to increasing taxes and continued lawsuits against tobacco companies, investors believe that smokers’ addition to cigarettes and oblivion to ever-increasing prices makes them attractive investments, The New York Times reports. And even though tobacco companies continue to pay billions of dollars in settlements, many investors believe the worst of the litigation is over.
February 1 - Money Management Executive
Fidelity Investments is considering expanding a facility outside of Dallas, in Westlake, Texas, by as many 1,500 jobs. The campus currently has 2,900 workers.
February 1 - Money Management Executive
Funds that invest in hedge fund indexes, first created in 2002 in response to the tremendous popularity of hedge funds, are failing to live up to their promise, USA Today reports. They typically lag the indexes they track.
February 1 - Money Management Executive
Appearing in New York on Wednesday primarily to tout the healthy state of the economy, President Bush called on boards of directors to curb excessive executive pay and bring greater value to shareholders, the Associated Press reports. The president made his remarks outside the New York Stock Exchange, standing at Federal Hall.
February 1 - Money Management Executive
The Securities and Exchange Commission is taking proceedings against former CIBC brokers, Michael Sassano and Dogan Baruh, for allegedly assisting hedge funds market time mutual funds between 1999 and at least 2003. The SEC also says that Baruh placed illegal late trades.
February 1