Money Management Executive Latest News

ProShares Hires Holderith As VP, National Sales Mgr.

The stereotype that women have fewer assets and are not interested in finances is beginning to fade, and fund companies are increasingly starting to recognize the opportunity to capture this underserved niche.

To quote legendary folk singer Bob Dylan, "The times they are a-changin'."

As new competitors continue to flood the market with exchange-traded funds, established players like Barclays Global Investors, State Street Global Advisors and Vanguard are adjusting their lineups and launching products to maintain their dominant market share.

AllianceBernstein Holding and AllianceBernstein reported that preliminary assets under management increased by approximately $7 billion, or 1.1%, in the month of July to $632 billion due to positive net flows in all distribution channels and positive investment returns in Value Equity and Fixed Income services, partially offset by unfavorable investment returns in Growth Equity services.

Old Mutual Asset Management, the U.S. asset management group of Old Mutual, announced assets under management of $230.8 billion, as of June 30, 2006.

Mutual fund investors in the greater Washington/Baltimore area have a new way to invest in preserving the quality of life for local seniors and persons with physical disabilities.

Deutsche Bank has closed its Philadelphia mutual fund business and will now be running three high-yield bonds in New York, The Philadelphia Inquirer reports. It will, however, continue running its private wealth management business in Philadelphia.

While large-cap growth and income stocks have been out of favor over the past few years, Stephen McKee, editor of the No-Load Mutual Fund Selections and Timing newsletter, tells MarketWatch that now might be the time to move into them.

As cases against brokerage firms for accepting directed-brokerage payments from mutual fund companies wind down, the NASD is planning to levy its first charges in a new wave of lawsuits, Dow Jones reports.