- Money Management Executive
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 fared in a fund over a period of time as they buy in and out of the fund.
October 10 - Money Management Executive
John Hancock Financial Services is expanding its mutual fund division and recently launched an advertising campaign to highlight its broad array of offerings, The Wall Street Journal reports.
October 10 - Money Management Executive
Deutsche Asset Management has agreed to pay $19.3 million to the Securities and Exchange Commission on charges of directed brokerage and revenue sharing by its Scudder Funds division.
October 9 - Money Management Executive
After more than a year of tensely standing by, fund companies and their go-betweens now have the guidelines they need to effectively implement the redemption fee rule.
October 9 - Money Management Executive
The Dow Jones Industrial Average kept shattering historic highs last week, climbing first to 11,727.34 on Tuesday, then to 11,850 Wednesday, but that's nothing compared to what it could do next year, said fund-of-funds manager Curtis Teberg of the Teberg Fund of Duluth, Minn. In fact, it's poised to climb as high as 16,000 by next December, he said.
October 9 - Money Management Executive
Total global spending by asset managers on trading systems will grow 19% over the next four years, from $634 million this year to $757 million by 2010, according to a report, "Trends in Asset Management Trading Technology," by Celent of Boston.
October 9 - Money Management Executive
The Securities and Exchange Commission has filed civil charges against Gene Mancinelli, a former broker with Wall Street Access, for allowing a hedge fund to place more than 2,000 improper trades in mutual funds between April 2001 and October 2001.
October 9 - Money Management Executive
The Securities and Exchange Commission has barred James A. DeMatteo from the securities industry.
October 9 - Money Management Executive
A poll commissioned by Fidelity Investments shows that now that the law has been permanently extended to allow parents to make tax free withdrawals from 529s, more than half of parents said they are likely to open a 529 plan. Currently, only 25% of parents use 529 plans. A majority, 52%, use bank savings accounts, and 29% use U.S. savings bonds. Among those who already have a 529 account, more than one third plan to increase their contributions.
October 9 - Money Management Executive
BISYS Fund Services Hires Giannone, Miskel as VPs
October 9