Money Management Executive Latest News

Standard & Poor's is going to roll out 11 indexes tied to housing prices next month, The Wall Street Journal reports. Ten of the indexes will be based on prices in major cities and the 11th will be a composite.

As Fidelity executives gathered for a meeting to discuss the defined benefit and defined contribution plans the firm manages for Hewlett-Packard, one of theirs laptops containing data on 196,000 of these retirement accounts was stolen, Boston news agencies are reporting. The database included names, addresses, birth dates and Social Security numbers.

Morgan Stanley's proprietary retail mutual funds are continuing to lose assets this year, losing $4 billion in the first quarter. This comes on top of steep outflows in 2005, The Wall Street Journal reports. In addition, its Van Kampen fund family, which Morgan sells through a variety of outside channels, is beginning to lose assets this year, as well, bleeding $161 million year-to-date.

Criminal charges have been filed against Dale Allen Jones, former president of the fallen Monarch International Holdings, for taking money from investors for a non-existent mutual fund, according to US Fed News.

The Board of Directors at Legg Mason Inc. has elected James W. Hirschmann as the new president, effective May 1. Raymond A. "Chip" Mason, who is the president, CEO and chairman, will continue in his role as chairman when Hirschmann takes on his role.

James S. Riepe, who retired as vice chairman of T. Rowe Price at the end of last year, has been named to serve on the board of directors of Genworth Financial.

Fidelity Investments has hired Young Chin to serve as the chief investment officer of its institutional Pyramis Global Advisors unit. Chin, a 28-yaer veteran of the investment management industry, was previously president and chief executive officer of Gartmore Global Investments and co-global equities investment officer of Gartmore Group.

A recent survey conducted by Little Grad, which offers college savings rebates on retail purchases, reveals that due to the growing costs of higher education, parents fear saving for their children's college education more than anything else these days.

Lipper presented awards Tuesday night to U.S. fund companies at a ceremony in New York.

The NASD has fined Boston Capital Securities $1.2 million for improper financial disclosure and compensation, as the firm continued to sell limited partnerships to the public even though the NASD issued it a deficient notice.