Money Management Executive Latest News

Although it is the world's top-selling fund manager on the retail side, Capital Group has reportedly suffered institutional outflows of more than $40 billion. American Funds, which is Cap Group's retail mutual fund subsidiary, had net inflows of $80 billion in 2005, making it the best-selling mutual fund group for the fourth straight year.

Arizona is among the states with the worst 529 college savings plan, according to the most recent Morningstar rating, but the plan's director thinks it wasn't accurately evaluated. Morningstar was particularly critical of Pacific Life and Securities Management Research, two of the plan's providers. Fidelity Investments and Waddell & Reed also support Arizona's 529, although Morningstar did not criticize them.

There's a story the folks at the James Advantage Funds like to tell about the last bull market, when the contrarian lost close to $600 million in assets by largely ignoring the tech boom. Instead of battening down the hatches and letting a few people go, its founder, Dr. Frank James, paid all 19 employees out of his own pocket and rode out the storm.

In order to achieve greater flexibility and improve efficiencies, one of the first open-end mutual funds to wholly embrace hedge fund-like investment strategies will be seeking a face-lift of sorts.

You can't necessarily judge a mutual fund by its "Lance Face."

There's certainly no love lost between Wall Street and New York Attorney General Eliot Spitzer, but it appears the would-be governor can add former General Electric CEO Jack Welch to the "do-not-call" list for campaign contributions.

London-based Henderson Global Investors has launched a new Japan-Asia Focus fund, investing in Japanese and other Asian companies. "We are excited about launching this fund right now, because we believe that the Japanese economy may be poised for long-term expansion," said Sean Dranfield, Henderson director of North American retail distribution.

Legg Asks Peters to Solo On Special Trust' Fund; Selects New Board Member

Investors who believe they are getting a comprehensive financial plan from their advisers may not be receiving all the advice that they need, according to a recent study published by Key Financial, a certified financial planning firm in West Chester, Pa. As a result, Key is calling for a uniform code for financial planning.

Accounting that allows for settlement of mutual fund trades one day past the trade, or T+1, uses stale portfolio valuations, leading to variations between funds' reported net asset values (NAVs) and their true worth, a new study warns investors.