Money Management Executive Latest News

Now that Securities and Exchange Commission's hedge fund registration rule has been defeated, many hedge fund advisors are trying to determine the smartest compliance strategy.

After tumbling on news of a static interest rate from the Federal Reserve Bank, markets began to recover on the day when news of a massive terrorist plot foiled in London dominated headlines, The Wall Street Journal reports.

The Securities and Exchange Commission Division of Investment Management late Thursday issued a seven-page response to queries from the American Bar Association regarding the U.S. Court of Appeals decision to overturn hedge fund registration rules.

Exchange-traded funds focused on international holdings continue to take the investment world by storm. In the past 12 months, total ETF assets rose 38% to $335.1 billion, while global ETFs almost doubled to $82.8 billion, according to the Investment Company Institute.

Just because the Securities and Exchange Commission will not pursue the hedge fund registration rule struck down by the courts, does not mean Chairman Christopher Cox has abandoned efforts to increase oversight of hedge funds.

What's in a name?

Firms are developing new products and repositioning old ones to vie for the business of the nation's 77 million Baby Boomers as they start planning for retirement.

Jennison Dryden Mutual Funds, Prudential Financial's proprietary fund family, has introduced Investment Monitor, a diagnostic plan-level review that helps financial advisers meet their 401(k) fiduciary responsibility by determining if the investments in a 401(k) plan are performing as expected against their relevant benchmarks and peer groups.

As much as investors and fund managers strive to beat the index, the task is a difficult one and usually unsuccessful.

Morningstar reported that its second-quarter profit rose 18% to $11.2 million, or 24 cents a share, compared to $9.5 million, or 22 cents a share, a year earlier. The company said its recent acquisitions, combined with rising demand for its financial advisory services, drove the profits.