Money Management Executive Latest News

The widely reported, but not yet announced, $3.9 billion sale of Putman Investments to Montreal-based Power Corp. could mean the end of a bumpy road for the Boston-based investment firm and its New York-based parent, Marsh & McLennan.

While the Securities and Exchange Commission's new rule requiring greater transparency in the costs of funds-of-funds is geared at protecting those saving for retirement, it could mean more headaches for managers of smaller, non-proprietary funds.

Of all of the cliches about men and women, one of the most indelible is that men are best left in charge of household finances.

Evergreen Investments agreed to pay a $4.2 million civil penalty to the NASD over directed-brokerage practices by its broker/dealer distributor. At question in such practices is brokerages' acceptance of trades from mutual fund complexes in exchange for promoting their funds, without revealing the practice to investors.

An arbitration panel organized by the NASD found a unit of Ameriprise, Securities America, and one of its stockbrokers guilty of steering three retired airline pilots into high-fee mutual funds.

Concerned that investment banks looking to curry trading and prime brokerage business with hedge funds are renting out office space to them at a discount, regulators are reportedly beginning to take a close look at so-called "hedge fund hotels."

Sentinel Financial Services Names Cronin President

An overwhelming majority of financial advisers are not steadfastly selling 529 college savings products, missing out on a viable opportunity to establish stronger client relationships and sales of other products.

Without question, the separately managed account industry is undergoing an evolution, led in large part by the industry's own initiatives to move toward the standardization of operating technology. But where are we right now, and what challenges lie ahead on that evolutionary track?

In preparation for introducing a new family of real estate funds, Charles Schwab has acquired Global Real Analytics, a real estate analytical firm that also creates real estate indexes. “With approximately $2 trillion invested worldwide, commercial real estate securities represent an important sector for investors,” said Evelyn Dilsaver, president and CEO of Charles Schwab Investment Management. “Global Real Analytics is a well-established firm with a solid track record. The capabilities they bring will provide Schwab with a unique advantage in delivering powerful real estate research, insights and investment choices to our clients.” Schwab has already filed a registration statement for the first real estate fund it is planning, the Schwab Global Real Estate Fund. The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.