Money Management Executive Latest News

According to a new study, three quarters of all mutual fund investors want their funds to "ask questions about the potential impact of global warming on the companies in which they are investing."

A rising stock market and talk of merger and acquisition activity are driving up the share prices of many publicly traded mutual fund companies.

Diversified Management Resources, best known as an executive search firm, will merge next month with The Drachman Group, a marketing communications firm.

With the boom in real estate investment trusts and energy stocks, it would stand to reason that an investor in a fund specializing in either sector would be sitting pretty. But contrary to reason, that isn't always the case, The Wall Street Journal reports.

Chicago-based Ariel Mutual Funds has added two independent trustees to its board, ensuring compliance with new Securities and Exchange Commission guidelines, according to Crain's Chicago Business.

The American College of Surgeons plans to slice into the financial world, launching its own mutual fund, according to Reuters.

With fewer than 1,400 accounts and a mere $16.8 million in assets, Wyoming's 529 plan may shut down, Dow Jones reports. If that were to happen, the state is expected to shift those accounts to Colorado's college savings plan. Wyoming's state legislature is expected to vote on the matter in February or March.

The top executive at Marsh & McLennan, the parent company to Putnam Investments, said the world's largest insurance broker has no intention of shedding its struggling fund group.

The NASD is set to take disciplinary action against brokerage firm A.G. Edwards over allegations that the firm accepted kickbacks from mutual fund companies in 2001 and 2002 in exchange for marketing their products to certain retail customers, A.G. Edwards indicated in a regulatory filing. The NASD is seeking the disgorgement of profits, sanctions and restitution. But via an e-mail, the company disputed the allegations and said it plans to vigorously defend itself against the charges.

JB Oxford Holdings' trade processing unit, National Clearing Corp. (NCC), has agreed to pay $2.1 million to the Securities and Exchange Commission over allegations of abusive mutual fund trading. NCC allegedly facilitated late trading and market timing in mutual fund shares, for which it is paying a $1 million fine and will reimburse clients up to $1.1 million.