Money Management Executive Latest News

Private equity firm Hellman & Friedman is considering acquiring Gartmore Investment Management, sources tell Bloomberg. The asking price may be $944 million, they said.

As hedge funds continue to reap assets--and gain influence as investors--European regulators are considering imposing new rules on them, The Wall Street Journal reports.

Fidelity Investments on Monday corrected omissions of holdings in first-quarter filings with the Securities and Exchange Commission by filing amended 13F forms. The company had omitted nearly 500 stocks out of its total holdings of just over 3,000 securities, or 16% of its holdings, a Fidelity spokesman indicated.

If a hacker breaks into an investor's mutual fund account, the law says the account holder is on his own, but many brokerage companies are working to make online investing a less frightening proposition, according to the Akron Beacon Journal.

American International Group plans to enter the asset management business in India by offering mutual funds, beginning with a real estate fund, Asia Pulse reports. The insurance and investment management behemoth is also considering offering consumer finance products, as well as mortgage guarantees and capital recovery.

President Bush late last week nominated Kathleen Casey, staff director and chief attorney for the Senate Banking Committee, to replace outgoing Securities and Exchange Commission Commissioner Cynthia Glassman - a move that a number of industry trade groups praised, MarketWatch reports.

Raymond James has launched a closed-end mutual fund that tracks the 100 stocks its analysts rate as a "strong buy-1," its top rating, the St. Petersburg Times reports. Raymond James is sub-advisor, while Claymore Advisors is manager of the new fund, the Claymore/Raymond James SB-1 Equity Fund.

No-load funds are not hard to find, yet investors continue to pay up-front broker commissions to get in the market, according to MarketWatch.

The Securities and Exchange Commission has decided that all companies, including smaller public ones, must comply with the Sarbanes-Oxley Act, MarketWatch reports.

Closed-end mutual funds are facing some challenges, the biggest ones yet according to The Wall Street Journal.