Money Management Executive Latest News

J. & W. Seligman & Co. has reduces the fees on its TargetHorizon ETF Portfolios. Fund expenses will now range from 0.98% to 1.73%, while the underlying ETFs will sport fees of 0.20% to 0.26%.

The two biggest issues that the financial services industry will face in the next few years are the cost, burden and risk associated with regulatory compliance as well as increasing competition among firms, according to a PricewaterhouseCoopers survey.

WASHINGTON--The best way to get ahead in the mutual fund business might just be to step away from it, commented Tom Kelley, author and general manager of IDEO, a design and consulting firm started in San Francisco.

Employers' efforts in recent years to boost participation in their 401(k) plans appear to be making inroads, according to Hewitt Associates' annual report on investor behavior in defined contribution plans.

WASHINGTON - Underscoring the theme of enhancing shareholder value, Investment Company Institute President Paul Schott Stevens encouraged the money management industry last week to leverage its innovative past and join efforts to enhance mutual fund disclosure and reinvent the defined contribution space for the next generation of retirees.

As the investment community applauds the two-year extension of the 15% Federal tax rate on dividends and capital gains through 2010, which President Bush signed into law via the Tax Relief Extension Act of 2005 last Wednesday, Washington-watchers say it might be a while before investors can expect any further tax breaks.

If the mainstream media were any indication, you'd think quantitative portfolio analysis would be to the mutual fund industry these days what technology stocks were in the late 1990s.

With Andrew "Buddy" Donohue taking the helm as director of the Securities and Exchange Commission's division of investment management last week, industry insiders have begun conjecturing as to what kind of leadership he will provide the mutual fund industry.

Tolle Joins Forward Mgmt. As Director of Accounting

The Securities and Exchange Commission's examination staff will hold regional seminars this spring and summer for chief compliance officers. The sessions are part of the Commission's ongoing "CCOutreach" program. Each seminar will focus on a case study that illustrates compliance issues that arise at firms of various sizes and complexity. Participants will be taught how to create an inventory of risk and mitigate it through policies and procedures. "In this year's regional seminars, fund and advisor CCOs will gain insight from the experiences of over 50 examiners as they guide discussions regarding firm operational and compliance risks," said Lori Richards, director of the office of compliance inspections and examinations. "An important part of any firm's compliance program is the identification of risks and conflicts.