- Money Management Executive
Wachovia is seriously bidding for MFS Investment Management, a source has told the Charlotte Observer.
October 20 - Money Management Executive
Nasdaq Global Funds, a subsidiary of the Nasdaq Stock Market, announced yesterday it is transferring sponsorship of its exchange-traded funds to PowerShares Capital Management.
October 20 - Money Management Executive
State Street Corp. said that its third-quarter profits nearly doubled from a year earlier, to $278 million, or 83 cents a share, as servicing and management fee revenue continued to increase.
October 19 - Money Management Executive
Mutual fund managers are expanding emerging markets borders—looking to invest in such exotic locales as Vietnam, Malaysia, Indonesia, Bulgaria, Peru, Panama, Bolivia and Botswana, MarketWatch reports.
October 19 - Money Management Executive
General Motors is bringing back 401(k) matches of 50 cents on the dollar, up to 4% of an employee’s salary, beginning Jan. 1, the Detroit Free Press reports.
October 19 - Money Management Executive
Americans who believe they can still join a company or government agency that will provide them with a generous pension plan once they retire are in for a rude awakening, said MFS Investment Management Chairman Robert C. Pozen, who is also a member of President Bush’s Commission to Strengthen Social Security.
October 19 - Money Management Executive
BISYS has reached an agreement to settle class-action lawsuits filed against it in the United States District Court for the Southern District of New York.
October 19 - Money Management Executive
Ford Motor 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, The Wall Street Journal reports.
October 18 - Money Management Executive
With Japan’s economy finally revived, the nation’s mutual fund industry is booming, Yield reports. The number of Japanese invested in mutual funds has risen from 15 million in 1990 to 40 million today. Of the total $420 billion invested in mutual funds in the nation, $169 billion is in equity mutual funds. That’s 13% lower than its peak in 1989, even though the average Japanese stock price is only 50% of what it was in 1989.
October 18 - Money Management Executive
Fortune magazine has named Abigail Johnson, president of Fidelity Employer Services, No. 18 on its list of the “50 Most Powerful Women.”
October 18