Money Management Executive Latest News

Only about 6% of the portfolio managers of exchange-traded funds at the industry’s two largest providers, State Street Global Advisors and Barclays Global Investors, have their own money invested in their funds, The Wall Street Journal reports, citing SEC-mandated data in statements of additional information in fund prospectuses.

Nomura Holdings has agreed to acquire Instinet for roughly $1.2 billion, from Silver Lake Partners, a private equity firm that has a 70% stake in Instinet, The Wall Street Journal reports.Silver Lake acquired its stake only 11 months ago for $208 million from the Nasdaq Stock Market. Nomura outbid Citigroup and State Street, sources told The Journal.

Americans are benefiting from the Republican economic policies, so says House Speaker J. Dennis Hastert (R-Ill.), according to U.S. Fed News.

Investors may be thinking how tomorrow’s election will impact their portfolio, but there probably won’t be much impact at all, according to BusinessWeek. A shakeup in the Beltway probably wouldn’t shake up a well-diversified portfolio, analysts say. “There’s no evidence of a statistically significant relationship between political control of Washington and the stock market,” said Mark Riepe, senior vice president at the Schwab Center for Investment Research, a division of Charles Schwab & Co.

At the request of the chairman of the Senate Finance Committee, the Government Accountability Office will review two divisions of the Securities and Exchange Commission-the enforcement unit and the office of compliance, inspections and examinations.

LAS VEGAS, Nev.-Since the burst of the Internet bubble, investment companies' enthusiasm for web-based applications and the potential for technology to help grow their business has steadily deflated.

NEW YORK-In the flurry of newly issued exchange-traded, lifecycle and lifestyle funds that have dominated investors' attention in recent years, one product has failed to capture the attention some say it deserves: the closed-end mutual fund.

While value funds have been flying high for the past several years, large-cap growth funds have shown lackluster performance. However, earnings at large-cap companies have been high in recent months, while their valuations have been beaten down, suggesting that the market cycle might be staging a comeback for large-cap growth, said Larry Puglia, vice president at T. Rowe Price of Baltimore, during a webcast last week.

The Securities and Exchange Commission fined Stephen Treadway, former chairman of the equity mutual funds at PIMCO, $572,000 for allowing improper trading of mutual funds. Treadway has also been banned from serving as an officer or a director of a mutual fund company for one year.

While retirement is still the No. 1 goal of a majority of investors, its importance has fallen slightly since 2003, while other financial concerns have risen in importance. This is according to a survey released by Mercer Human Resources Consulting.