Money Management Executive Latest News

Investors should be made aware of the fees they are paying in their 401(k)s, particularly since they are frequently hidden. That was the message of a Government Accountability Office report that Rep. George Miller (D-Calif.) released Thursday.

The new chief investment officer at Dreyfus said his mission is more about improving fund performance at the New York mutual fund company than parent Mellon Financial's desire to consolidate brands.

Keith Tucker, the former chief executive officer of Waddell & Reed who has been charged with evading $1.2 million in Kansas City taxes, testified that was never his primary residence, The Kansas City Star reports.

State Street Global Advisors has won exemptive relief from the Securities and Exchange Commission for its exchange-traded funds, permitting fund firms to invest higher amounts in the instruments.

BISYS Alternative Investment Services and RiskMetrics have formed a strategic alliance to offer risk reporting tools specifically designed for alternative investments in hedge funds.

While most parents and grandparents think of college savings 529 plans as fit for their offspring, some of them are now actively using the investment vehicles to save for adult education, The Wall Street Journal reports. And a large number of them are planning to use the education to plan for a second career.

While WisdomTree currently offers exchange-traded funds based on dividends, it is planning to offer new ETFs based on corporate earnings, The Wall Street Journal reports.

Prudential Financial has hired a Duke University professor as an independent consultant to decide how to repay $270 million to investors, the Newark Star-Ledger reports. That was the portion set aside for investors in the $600 million fine it was sacked with in August for not properly overseeing and preventing some of its brokers from allowing abusive mutual fund trading.

A former worker of Principal Financial Group has been charged with draining $167,000 from mutual fund accounts at the firm, the Des Moines Register reports.

Dreyfus, a unit of Mellon Financial, announced that Phil Maisano, the head of alternative investments at Mellon Asset Management, will take the additional role of Dreyfus' chief investment officer and its vice chairman.