Money Management Executive Latest News

Mirroring a trend among major stock markets around the globe to partner with others, the Nasdaq Stock Market and the Jasdaq Securities Exchange are in talks about possibly forming an alliance, the Associated Press reports.

Fidelity Investments has introduced an annuity purchase program, Fidelity Lifetime Income Solutions, that will enable 401(k) plan participants to convert part of their savings into a pension-like guaranteed retirement income stream.

HUNTINGTON BEACH, Calif.-To fully protect investors, adequately answer to their boards and best satisfy regulators, fund executives must have a solid understanding and strong oversight over each vendor with which they contract.

HUNTINGTON BEACH, Calif.-From hand-held devices that can execute trades, to networks able to beam reams of information to third-party transfer agents halfway across the globe, technology is evolving at lightning speed, sending billions more bytes of data into cyberspace with each innovation.

Due to tensions in the Middle East, skyrocketing oil and gas prices and inflationary concerns, the third quarter started off sluggish. Equity funds in July returned a negative 1.1%, but as the Federal Open Market Committee began to ease up on interest rate hikes and oil prices declined 7% in August, in the end, domestic equity funds posted gains of 1.98%, Lipper's third quarter mutual fund review and outlook found.

Morningstar has launched a new performance tool, Morningstar Investor Return, which will provide data on open-end mutual funds and exchange-traded funds to capture how the average investor fares in a fund over a period of time as they buy in and out of the fund. It complements the more traditional metric of total return, which measures what investors could have earned had they bought and held the fund, reinvesting all dividends, over a period of time.

The NASD fined Oppenheimer & Co. $800,000 for failing to timely and accurately report 6,100 municipal securities transactions between January 2003 and May 2004, as well as not responding to the regulator's request for information in September 2004. Oppenheimer also failed to retain business-related internal e-mail sent by 20 employees who traded the municipal securities, the NASD said.

Gallary Joins ICI as COO

To cut down on distribution costs, more fund companies may hire "hybrid wholesalers"-salespeople who can perform both internal and external wholesaling duties.

By all accounts, the equity markets in Taiwan, the People's Republic of China and Hong Kong are red-hot these days, and mutual fund managers are paying a lot closer attention to these markets.