Money Management Executive Latest News

Investors once again turned to foreign stock and bond mutual funds last month, while interest in domestic equity funds continues to lessen, the Los Angeles Times reports.

While reports circulate that the $600 billion settlement that Prudential Financial reached for its part in the market-timing and late-trading mutual fund scandal might signal the end of the past three years of settlements, investors who lost money because of the activity still await payment.

DuPont is converting its traditional pension plan to a 401(k) for workers hired after Jan. 1, as part of the ongoing trend of companies shifting towards defined contribution and savings plans.

Fidelity Investments is giving its Advisor 401(k) platform a makeover by adding a host of offerings to improve participation and deferral rates and help investors select a balanced asset allocation.

Investors far too often are unaware of the high fees that 401(k) plans charge, Bloomberg reports. Consultants who advise plan sponsors on setting up a 401(k) frequently charge ongoing fees that are hidden in expense ratios. In some cases, mutual funds pay consultants or brokers to promote their funds through hidden revenue-sharing agreements that inflate fund fees by as much as a third.

Although its most recent quarterly balance sheet showed it had $5.8 billion in marketable securities, Google has asked the Securities and Exchange Commission to exempt it from mutual fund regulations, the Associated Press reports. That's just over 40% of its total $14.4 billion in assets in marketable securities, a threshold that the SEC sets for a company to be treated as an investment firm or mutual fund.

Interest in 529 college saving plans is likely to pick up again on the strength of lower fees, more investment options and enhanced federal and state tax benefits, according to The Wall Street Journal.

Prudential Securities will pay $600 million to settle government allegations that former brokers and a branch manager in Boston helped investors rapidly trade mutual fund shares.

In the incendiary case that taught all of America the importance of 401(k) diversification, it seems that some Enron employees may be slightly closer to relief, according to the Houston Chronicle.

In the incendiary case that taught all of America the importance of 401(k) diversification, it seems that some Enron employees may be slightly closer to relief, according to the Houston Chronicle.