- Money Management Executive
Vanguard Group, the nation's second-largest mutual fund firm, will to close two of its equity funds in order to temper asset growth of the funds.
February 6 - Money Management Executive
NASD is examining whether some of the biggest brokerage firms inappropriately sold hedge fund products to individual investors, according to Bloomberg.
February 6 - Money Management Executive
NEW YORK - The Securities and Exchange Commission's proposed interpretive release on soft dollars has been on the comment block for a good three months now, which is a good two months beyond its intended period, and most industry experts are fairly confident that it will be affirmed in its current form.
February 6 - Money Management Executive
A rising stock market and talk of merger and acquisition activity are driving up the share prices of many publicly traded mutual fund companies. According to a report from The Financial Times, it hasn't been terribly tough for managers to beat the S&P 500 this year, which is up 8%. As a result, firms are making a strong showing on Wall Street.
February 6 - Money Management Executive
When it comes to protecting shareholders' interests, mainstream and socially responsible investing (SRI) mutual fund managers agree: supporting corporate reforms is key; but when it comes to voting their proxies on other SRI issues, the two types of funds drift further apart, according to a recent study of mutual fund voting records published by The Corporate Library, an independent investment ratings company based in Portland, Maine.
February 6 - Money Management Executive
Alarms went off across the country last week when the Commerce Department reported that the national savings rate is near an all-time low, but it's unclear exactly how those numbers should be read by the money management industry.
February 6 - Money Management Executive
Starting in May, Merrill Lynch will market its mutual funds under the name Princeton Portfolio Research & Management. The company hopes the name change will appeal more to third-party advisers, who were turned off by selling products named after their competitor.
February 6 - Money Management Executive
The Scudder Funds' investment advisor, Deutsche Investment Management Americas, is asking shareholders to approve a host of changes among the funds, most notably renaming the funds DWS Funds, according to filings with the Securities and Exchange Commission. Along with the name change, Scudder also is proposing a new fee structure, new advisory contracts, consolidation of the board and for some funds to be merged.
February 6 - Money Management Executive
Janus Taps New Manager For Flagship Janus Fund
February 6 - Money Management Executive
Earn-outs, those additional contingency payments that executives at firms being acquired can earn if specified certain targets are met in the future, are nothing new within the financial services industry. But the earn-out terms of Amvescap's recently announced acquisition of PowerShares Capital Management have raised some eyebrows, as they are extremely optimistic and extend over a five-year period.
February 6