Money Management Executive Latest News

Canada's largest securities regulator, AMF, has charged Norbourg Asset Management founder Vincent Lacroix with 51 counts, alleging price manipulation of mutual funds and intentionally misrepresenting the fund company's financial statements, according to The Globe and Mail.

We all know what it takes to make a successful investor: diversification and holding for the long-term. So why do so many investors insist upon diverting from that game plan?

As investors look to hedge their bets, they're turning more and more to currency funds, according to Investor's Business Daily.

Online brokerage Amerivest, a subsidiary of TD Ameritrade Holding, is making exchange-traded funds available directly to investors without charging them a commission, The Kansas City Star reports.

The alternative assets group of Toronto-based RBC Capital Markets has launched a diversified hedge fund index comprised of 250 funds, which is about six times larger than other investable hedge fund indexes, according to the company.

One year into a pilot program promoting easy-to-search electronic filings, the Securities and Exchange Commission will host a series of roundtable panels to review the successes of the initiative and plan for its expansion.

Assets are pouring into mutual funds in India, doubling in the past three years to $48 billion, Dow Jones reports. And half of those assets are managed by foreign companies, including Franklin Templeton, Prudential and ING Group.

The nine million shares of Legg Mason that Citigroup intends to sell will carry a price tag of $125 a share, Reuters reported Friday.

Mario Gabelli vowed to fight a civil lawsuit and the Department of Justice's decision this week to assume control of the case, which charges him with setting up bogus companies to qualify for small-business and minority discounts on Federal Communications Commission cellphone licenses that the companies later sold for a profit of $206 million, Reuters reports.

Ivory Investment Management has split from hedge fund FrontPoint Partners, a development that could bolster Morgan Stanley's plans to obtain a savvy money manager to help supplant its spoiled bid to acquire BlackRock, The Wall Street Journal reports.