Money Management Executive Latest News

Investors looking for diversification in their portfolio might want to consider equal-weight sector exchange-traded funds, which are a savvy way for investors to spread single-stock risk and provide full sector exposure to the market.

Barclays Global Investors (BGI) has signed an agreement to acquire Indexchange Investment from Bayerische Hypo-und Vereinsbank for $307 million in cash. With $19.5 billion of assets under management, Indexchange is Germany's leading provider of exchange-traded funds. Once the Indexchange ETFs are combined with Barclays' iShares, the firm will become the leading provider of ETFs in Europe.

BISYS has made an offer to the Securities and Exchange Commission to settle charges related to financial restatements filed Aug. 10, 2004 and April 26, 2006. If the SEC and the court overseeing this case accept the settlement, BISYS will pay $25.1 million.

The mutual fund industry is gearing up to deliver the largest tax distributions in six years and the third-largest ever. Funds will pay out an estimated $200 billion in capital gains and income to investors, up from $129 billion last year. According to Lipper estimates, fund investors will pay about $20 billion in taxes this year, up from $15.2 billion in 2005. One reason distributions are up is that it's been a good year in the stock market.

Janus CEO Black Rescinds CIO Title to Focus on Sales

LAS VEGAS-To garner better gains from their technology, companies will have to start loosing control.

The trading relationship between the buy-side and the sell-side continues to change due to more accessible liquidity, increased technology advances and shrinking commission pools to go around.

Brussels-based Fortis Investment Management announced it has taken a 70% stake in New York-based Cadagon Management, combining the two firms’ fund-of-fund operations.

Greenwich, Conn., a 30-minute train ride to Manhattan, has long been a swanky place for hedge funds to call home, and their demand for a Greenwich address is driving up office rents, according to the Stamford Advocate.Office rents in Greenwich are now as high as $80 to $90 a square foot, said Marshall Heaven, a local commercial real estate expert. That is three to four times the rent a business would pay in nearby towns of Stamford and Norwalk.

Mellon Financial Corp. of Pittsburgh is expanding rapidly into the fast-growing China market with plans to set up a fund management venture and apply for investment quotas, both incoming and outgoing, according to Reuters.Mellon established its first offices in China this year and sees its team of four staffers expanding to 40 by the end of next year.