Money Management Executive Latest News

As more and more investors rely on mutual funds through their companies’ 401(k) plans in preparing for retirement, regulators and rule makers have begun looking more closely at employer-sponsored retirement plans, according to The Wall Street Journal.

Investors pushed out of hedge funds by the new accreditation rules will likely flock to long/short funds that mimic the high-stakes hedge fund tactics, according to HedgeWorld. And fund companies are getting ready with new products.

Despite corporate America’s continued banner days, the money didn’t flow over for income-hungry investors this year, as companies were less generous than expected with their dividends.

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

New York-based Marsh & McLennan has agreed to sell its beleaguered Putnam Investments business to Power Corp., a Canadian financial services firm based in Montreal , according to the Wall Street Journal.

Alps Advisers, an asset manager based in Denver, has completed its acquisition of the Liberty All-Star Funds management business from Banc of America Investment Advisors..

Credit Suisse announced it is buying a majority interest in a Brazilian asset management and private banking company.

Retirees traditionally have moved the majority of their portfolios to stocks, but in light of increasing awareness of the likelihood of a long retirement—coupled with low tax rates on dividends—they are moving more of their money into dividend-paying stocks.

Seventy-six percent of 780 producers surveyed for John Hancock College Savings said that 529s represent only 1% to 4% of their business. But in a survey of investors, more than two-thirds of parents and one-half of grandparents planned to contribute to 529 plans.

At the start of the new year, the Securities and Exchange Commission is requiring funds-of-funds not just to present their overlay expense ratio but the underlying expenses of the funds they invest in, the Associated Press reports.