Money Management Executive Latest News

Fidelity Investments will close its $63.8 billion Contrafund, currently its largest, to new investments as of April 28, Bloomberg reports. The fund has delivered an average annual return of 10% over the past five years, handily beating the S&P 500, which has averaged not quite 4% a year in that timeframe.

Small-cap, gold and China funds delivered double-digit returns in the first quarter of the year, outperforming diversified U.S. equity funds' returns of 6.67% and large-caps' 3.07%, according to Lipper data, the Associated Press reports.

Dividends are in demand, according to the Wall Street Journal Online.

Not all asset managers that run foreign funds use fair valuation to determine the true value of their underlying holdings, a survey of 77 investment firms by Deloitte & Touche.

Houston-based AIM Investments will launch seven new mutual funds, the company announced Friday.

London-based Schroders, has launched two new funds as part of the firm's ongoing North American expansion.

Woodland Hills, Calif.-based Guinness Atkinson Asset Management announced Friday it plans to launch a new no-load Asia Pacific Dividend Fund.

Only three months have gone by since the passing of 2005, and already the ETF arena seems to have changed, according to The Wall Street Journal.

According to a highly publicized study released last week, mutual funds are enablers of runaway executive compensations packages because they tend to vote their massive shareholdings in favor of management. Now a second study suggests that not only could funds be voting for management in those situations, they might also be voting more than their fair share.

Sometimes, it appears, it's not so good to be the king.