Money Management Executive Latest News

NEW YORK - With the sharp increase in oil prices, industry observers have expressed conflicting views over whether the alternative energy sector might harbor some prudent and rather profitable choices for investment managers and their clients.

Oppenheimer Funds and its subsidiary, OppenheimerFunds Distributor has settled a revenue-sharing proceeding with the Securities and Exchange Commission without further penalty.

Banc of America Securities Appoints Ann Short COO

What's good for an IRA is good for a 401(k).

In the first five years of this decade, assets in equity exchange-traded funds (ETFs) increased by a factor of six, easily topping $200 billion. Over that period, assets in index-tracking equity mutual funds increased by about 29%. And actively managed equity funds? They grew their asset base by just 6%.

Oppenheimer Funds and its subsidiary, OppenheimerFunds Distributor has settled a revenue-sharing proceeding wit the Securities and Exchange Commission without further penalty.

Lehman Brothers announced a 77% increase in third-quarter profit. The increase can be attributed to record returns in its investment banking and investment management divisions, as well as strong international results, officials said.

Investors are not loyal when it comes to their mutual funds, according to Forbes. They'll abandon a poor performer in favor of the newcomer with impressive credentials. But based on research from Yale University Professor Owen Lamont and the University of Chicago's Andrea Frazzini, it is likely that a new fund's positive returns may go South after six months.

Dow Jones reports that hedge fund managers are looking to snatch up mortgage portfolios in New Orleans. This is in anticipation of a resurgence in property values aided by federal grants to the hurricane-stricken region.

Charles Schwab has discontinued account service fees in an effort to move back to the stock brokerage's low-cost tradition, reports the Associated Press.