Money Management Executive Latest News

As the Securities and Exchange Commission sifts through more than 300 comment letters on its mutual fund independent board rule, some are speculating that the Commission might capitulate by requiring only two-thirds, not 75%, of the board be independent, Dow Jones reports. And there is a slight chance the SEC might permit funds to determine for themselves if the chairman should be independent, as well.

American Century Investments announced plans Wednesday to acquire Kopp Investment Advisors' two mutual funds, which have a value of $300 million to $350 million. Terms of the deal were not disclosed. Kopp said it agreed to the sale so that it can focus on its core competency, private account management.

After surveying 1,000 small business owners with no more than 20 employees about 401(k)s, Fidelity Investments found that 43% don't want to offer them because they mistakenly think they are too expensive.

Due to decreased fears about recession and inflation, mutual fund managers' expectations for strong performance by emerging markets stocks has risen, The Wall Street Journal reports, citing the monthly Merrill Lynch fund managers survey.

Alternative assets around the world reached $1.26 trillion in 2005, up 20% from the previous year, according to data from Watson Wyatt, InvestorsOffshore.com reports.

A panel of academics and executives, including those from mutual fund companies, has been formed to assess the impact of regulation on the competitiveness of U.S. businesses, The New York Times reports.

NEW YORK - Breaking up the investigative logjam at the Securities and Exchange Commission's Office of Compliance Inspections and Examinations may take dismantling the office itself, said SEC Commissioner Paul S. Atkins Wednesday.

Financial planners working with clients on estate planning have had a new challenge put to them in recent years: how to advise a family where one or both parents have remarried and have children by both marriages, sometimes called a "split-level" family, The Wall Street Journal reports.

Focused Investors has selected Mellon Financial to provide custody and back-office services, including accounting and monthly fund valuations, performance measurement and client statements.

Legg Mason, the manager of Colorado's 529 college savings plan, Scholars Choice, is switching five of the funds offered in the plan with new options, including the Legg Mason Value Trust Fund, which is managed by Bill Miller. Other funds now offered in the plan are: Legg Mason Partners Aggressive Growth Fund, Royce Pennsylvania Mutual Fund, Legg Mason International Equity Trust and Western Asset Core Plus Bond Portfolio. In the near future, the plan will also add the John Hancock Classic Value Fund.