Money Management Executive Latest News

Net inflows to international and global equity mutual funds are projected to approach $150 billion this year, which would be a 40% increase from last year, Strategic Insight estimates.

The Securities and Exchange Commission voted unanimously on Tuesday to propose permitting companies to issue proxy statements via the Internet, which would not only help shareholders access information more quickly, but allow them to do it more cheaply, according to the Reuters.

Due to poor performance in Fidelity's flagship fund, Magellan, the management fees that Fidelity has collected in the most recent six months totaled $104.3 million, a 27% decrease from the $143.3 million in the same period a year earlier, The Wall Street Journal reports.

Touchstone Investments has entered into an agreement to acquire Constellation Investment Management for an undisclosed sum. The deal will add another $2.8 billion to Constellation's assets and a number of sub-advisors to Touchstone's current roster of managers.

NASD's enforcement action against Ameriprise Financial Inc. will cost the company $1.25 million -$500,000 in fines and $750,000 to compensate customers.

After tampering with options and securities, Jes Santaularia turned his part-time hobby into a solidly performing, $4 million hedge fund, Parrot Trading Partners, Kansas City Business Journal reports.

BISYS has expanded its hedge fund services into Ireland, with the opening of a new office in Waterford. The company forecasts that the new office will generate more than 250 jobs over the next few years.

Janus executives have been planning a management buyout since last summer, when they hired Morgan Stanley to handle the deal, a source told Fortune magazine.

Legal experts are now questioning whether Supreme Court nominee and U.S. Circuit Court of Appeals Judge Samuel Alito did anything wrong in a case he presided over three years ago that involved Vanguard Group, according to the St. Louis Dispatch.

William Ackman of the New York hedge fund Pershing Square Capital Management recently met with fast food giant McDonald's to discuss a drastic restructuring proposal he personally authored, according to the Chicago Tribune.