- Money Management Executive
MIAMI - With the whirlwind of legislation that started with the mutual fund scandals in 2003 seemingly subsiding, fund companies can stop scurrying to comply and do a better job of focusing on existing rules, speakers at The National Investment Company Service Association summit here said last week.
February 27 - Money Management Executive
The recent marriage between Merrill Lynch's investment management unit and fixed-income manager BlackRock did more than create a $1 trillion colossus. It would also seem that it has left Morgan Stanley desperately seeking a new mate.
February 27 - Money Management Executive
NEW YORK - Let's just say they agree to disagree.
February 27 - Money Management Executive
Newly minted Securities and Exchange Commission General Counsel Brain Cartwright told the Mutual Fund Directors Forum that going forward, independent directors would serve as the centerpiece of the mutual fund regulatory regime.
February 27 - Money Management Executive
Strong inflows and a robust stock market are driving continued growth in the mutual fund industry in 2006, Strategic Insight reported last week. Assets in mutual funds in the U.S. reached $9.9 trillion at the end of January. Of particular note, Strategic Insight pointed out that inflows to international equity funds were nearly $30 billion in January, twice the previous monthly record.
February 27 - Money Management Executive
On the heels of its deal with BlackRock and pressure from Princeton University, Merrill Lynch has decided not to name its mutual funds unit Princeton Portfolio Research and Management. The university had protested Merrill's right to the name, even though Merrill Lynch Investment Managers is in the Princeton area, for fear that investors might think there was a connection between Merrill and the university's endowment.
February 27 - Money Management Executive
Robert S. Tull Moves From SEC's Philadelphia Office To Consulting Firm
February 27 - Money Management Executive
MIAMI - While employers at home are increasingly abandoning defined benefit plans in favor of defined contribution programs, other countries are following suit, said Jay Hooley, executive vice president of State Street Corp. of Boston.
February 27 - Money Management Executive
Mutual fund shareholders are more likely than all Americans to have Internet access, according to a new report from the Investment Company Institute of Washington. In 2005, 88% of mutual fund shareholders had access to the Web, compared to 79% of all Americans. This is up from 2000, when 68% of mutual fund shareholders had access to the Web, versus 57% of all Americans.
February 27 - Money Management Executive
Employee participation in 401(k) plans continued to decrease in 2005, to a participation rate of 70%, down 12.5% from 80% in 1999, and the percentage of salary contributed has fallen 20% in that time, from 8.6% to 6.9%, according to the Spectrem Group study, "2005 Defined Contribution Market Needs."
February 27