Money Management Executive Latest News

NEW YORK-The separately managed account business will flourish, as many firms that have not previously offered SMAs will decide to do so over the next few years. But while this is likely to boost assets and the number of investors in SMAs, competition will become fierce. That was the message of speakers at The Money Management Institute's Managed Accounts Solutions conference here last week.

ING settled with New York and New Hampshire regulators for paying up to $3 million a year to the teachers unions in those states to steer business its way.

Ford Motor reportedly sent notices to employees last month telling them it will drop Fidelity's Magellan fund and three other funds from two other companies from its 401(k) lineup.

Amvescap's Flanagan Re-Elected as ICI Chair

HUNTINGTON BEACH, Calif.-Enough with the marketing bias toward Baby Boomers; it's time for mutual fund companies to move on to the Millennials.

Three new funds with unique investment approaches recently debuted, two of them last week. The Blue Large Cap Fund and the Blue Small Cap Fund, managed by Blue Investment Management of New York, screen for socially responsible characteristics as well as political leaning that aligns with the Democratic Party. (The blue name derives from the Democratic focus, versus the opposing red, representing Republican.)

China’s multi-billion dollar national social security fund signed agreements with Northern Trust and Citigroup to act as trustees for its foreign investments.

The fifty-three million people in the U.S. who rely on Social Security and Supplemental Security Income will see their benefits rise 3.3% next year, due to inflation.

The Blue Fund, a new mutual fund from Blue Investment Management that filed for registration in June, launched this week.

The University of California’s Haas School of Business will honor Vanguard founder John C. Bogle a week from today with the Berkeley Award for Distinguished Contributions to Financial Reporting at the school’s 17th Annual Conference on Financial Reporting.