Money Management Executive Latest News

Hedge fund portfolio managers looking to buy a fund tracking the S&P 500 have more choices than ever before, HedgeWorld News reports, but in most cases, they will choose an S&P 500 Index futures contract over a SPDR or other exchange-traded fund.

The Securities and Exchange Commission is considering requiring fewer hedge funds to register, Financial Times reports. The current rule, which is to go into effect in February, will require hedge fund managers with more than $25 million in assets to register with the SEC. Lori Richards, the SEC director of compliance inspections and examinations, said the SEC has been discussing the possibility of raising the minimum to reduce its oversight responsibilities.

AUSTIN - Spokane, Wash., native and University of Denver graduate Erik Benzel has been named recipient of the 2005 Robert L. Gould Scholastic Award.

PowerShares Capital Management LLC is planning to launch eight exchange-traded funds covering a range of sectors, including few that are not yet represented by an ETF--those being funds covering nanotech, building and construction, aerospace and defense.

The New York Stock Exchange plans to continue to compel brokerages to make meaningful reforms, The Globe and Mail reports, quoting NYSE Enforcement Chief Susan Merrill.

Fidelity Management & Research Co. has hired Brian Conroy as senior vice president and head of global equity trading, responsible for international as well as domestic fund strategies, as well as being the point person for both of these desks, FinanceTech.com reports.

Janus reported net income for the third quarter of 2005 of $31.7 million, a 33% decrease from net income of $47.3 million in the corresponding quarter a year earlier. However, Janus has its first quarter of net inflows, $1.7 billion, since the second quarter of 2003.

The State Attorney General of Connecticut, Richard Blumenthal, believes greater regulation of the hedge fund industry is a must and that state authorities could help the Securities and Exchange Commission, according to Financial News Online.

Private equity firm JC Flowers has backed out of a deal to purchase Refco, Financial News Online reports. Meanwhile, competitive bidders are offering as much as $100 million more than JC Flowers' $768 million.

Arrivato Advisors has announced the launch of the Arrivato Dow Jones U.S. Target Date Funds, a family of five target-date funds based on the Dow Jones U.S. Target Date Indexes.