Money Management Executive Latest News

Shares of publicly traded mutual fund companies rose an average of 6.6% in the first nine months of the year, as opposed to 2.8% for the S&P 500, and one high-profile analyst expects firms to report strong earnings for the third quarter, it was reported last week.

This year's capital gains payouts are expected to be the largest since the boom of the late 1990s, and while that's good news for the mutual fund industry and the 39 million U.S. households that invest in them, it's increasingly unclear whether legislation currently pending in Congress will provide any relief from what could be a shocker of a tax bill.

In a turn of events that 25 months ago would have seemed unthinkable, former Bank of America Securities broker Theodore Sihpol III walked out of a Manhattan courtroom last week absolved of all securities fraud charges.

Lipper held a third quarter mutual fund review and outlook session last week, in which equity and fixed income mutual fund performance and the debate over actively managed versus index funds was on the agenda. Highlights of the report were domestic equity funds delivering a 4.65% return in spite of natural disasters and rising oil prices, growth beating value, mid-cap and small-cap funds beating large- and multi-cap, and international funds continuing their strong run.

The NASD last week fined eight broker/dealers, including one fund distributor, $7.75 million for giving preferential sales treatment to mutual funds in exchange for lucrative trading commissions from directed-brokerage agreements.

Industry Veteran Wien Joins Pequot as Strategist But Retains Morgan Ties

SEI Investments of Oaks, Pa., has enhanced the data management services it provides on an outsourced basis to investment managers of separately managed accounts with a new sales management program.

It's not on most fund advisors' radar screens just yet, but really simple syndication (RSS) technology, a form of XBRL (extensible markup language) that is still in its infancy, is beginning to make its way into the financial services realm.

Columbia Management, Bank of America's investment management arm, has hired Frederick Copper to be head of its international equities team.

Brian Posner, a well-known former manager at Fidelity Investments, has been selected to head the stock-mutual fund group that Legg Mason will acquire as a result of its asset swap with Citigroup, The Wall Street Journal reports.