Money Management Executive Latest News

Rydex Investments will rename 18 of its index funds to more accurately reflect their underlying benchmark or sector and investment objective, Reuters reports.

Wells Fargo Advantage Funds' assets have been growing in recent years, to $111 billion, and the company has every intention of keeping its momentum, The Milwaukee Journal Sentinel reports.

Vanguard Group has closed its largest fund, the Vanguard Strategic Equity Fund, to new investors and raised the minimum investment rate on two others.

A bill pending in the U.S. House of Representatives that would allow fund companies to offer investment advice to 401(k) participants poses more problems than solutions for investors, according to MarketWatch columnist Thomas Kostigen.

Lipper has launched new lifestyle, lifecycle and hedge fund categories, to be able to more effectively compare peer groups.

NEW YORK - The hoopla about hedge funds stems from regulators' basic distrust of the industry managers, according to Paul N. Roth, a lead attorney with Schulte Roth & Zabel in New York.

Saying it wants to focus more closely on its institutional business, ABN AMRO announced late last week that it would sell the retail division of U.S. mutual fund business to Denver-based Highbury Financial for $38.6 million.

Stocks of small-cap companies may have a much higher potential for return than the large-cap companies that analysts traditionally cover, according to HedgeWorld News.

Morningstar Asia has recognized Steve Lear, head of Schroders' New York-based team, as 2005 manager of the year.

CitiStreet and Smith Barney have joined forces and will be offering a Self-Directed Retirement Account 401(k) product that will give employees more investment options and will even offer them advisory services. The product will also take care of payroll deduction processing.