Money Management Executive Latest News

A Merrill Lynch survey of 290 managers found that 17% of asset allocators are planning to increase their exposure to U.S. equities, MarketWatch reports. The survey participants manage a total of $945 billion in assets.

Amber Partners Ltd has launched a certification process for hedge fund operational capabilities. The certification process has thus far awarded 11 certifications, according to HedgeWorld News.

Hedge fund industry giants unhappy with the Security and Exchange Commission's manager registration rule are imposing lock-ups of investors' money, for two years or more, Lipper reports. The registration rule goes into effect on Feb. 1, 2006,

The results of the Deloitte Touche Tohmatsu 2005 Global Offshoring Study are in, and they indicate that many financial services companies are not committed enough to offshoring, and therefore do not receive the maximum return ratio that could have been gained from the operation.

Charles Schwab has announced that it is doing away with account service fees on retail defined contribution retirement plans for the self employed and small business owners to encourage them to take advantage of the retirement plan options that are available to them. The plans include individual 401(k) plans, 403(b)(7) plans, Qualified Retirement Plans, Keogh plans, SEP-IRAs, and Simple IRAs. The fee elimination does not pertain to any retirement account services that Schwab offers.

State Street Global Advisors announced Wednesday it has launched nine new exchange-traded funds: the SPDR Dividend ETF, along with eight under the streetTRACKS name, which include three based on indexes from Keefe, Bruyette and Woods and five tracking Dow Jones Wilshire indices. The SPDR Dividend ETF tracks the S&P High Yield Dividend Aristocrats Index. The funds began trading on the American Stock Exchange on Tuesday.

Many retirees, as well as those preparing for retirement, are overestimating their retirement assets, MainStay Investments 2005 Across Generations Retirement Income Survey found. The survey polled 1,209 middle-income and high-net-worth Americans who are of retirement age or just about to retire.

Atty. Gen. Bill Lockyer had been temporarily defeated by a recent ruling that prevents him from suing American Funds, the Los Angeles Times reports.

AST Trust Co., a division of New York-based American Stock Transfer and Trust, has started 10 collective exchange-traded funds for retirement plan sponsors, the company said Tuesday.

Charles Schwab Inc. reported Tuesday that it expects its fourth-quarter earnings to be lower then what was previously expected, Reuters reports. The company projects that profits will be 14 cents per share, opposed to the expected 16 cent per share previously expected by Reuters Estimates.