Money Management Executive Latest News

TrimTabs Investment Research--an institutional research company--has just launched its own investment firm, TrimTabs Asset Management. The TrimTabs Absolute Return Fund LP is its first foray into the fund world and will debut on Sept. 1.

Nick Adams of Boston-based Wellington Management oversees a hedge fund that is reported to have produced gains of 40 percent a year over the past 10 years. Small investors can also avail themselves of Adams' skills through First Financial Fund Inc., a fund that Adams has managed since it was launched in 1986.

The U.S. Attorney's Office in Boston has charged a second man in the rapid trading and subsequent cover-up scheme at Prudential Securities.

Michel Fragasso, the chairman of the Investment Funds Institute of Canada, stepped down abruptly Thursday following RCMP police raids at various Montreal and Toronto offices of Norbourg Asset Management, where he is a senior vice president.

The U.S. Court of Appeals for the 11th Circuit in Atlanta is challenging one of the Securities and Exchange Commission's key legal tools, according to a report late last week from The Wall Street Journal, and it could lead to a restructuring of the regulator's use of what's commonly known as civil injunctions.

Global exchange-traded funds (ETFs) have been drawing in investors , and that trend does not appear to be slowing, according to figures from the Investment Company Institute. Overall, ETF assets have been booming, with combined assets of all ETFs reaching $252.32 billion in July 2005, an impressive 4% increase from the previous month.

Fidelity Investments - the country's leader in mutual fund management - is joining Lehman Brothers, Credit Suisse First Boston and CitiGroup to provide the equity necessary to form Boston Equities Exchange (BeX), a new electronic stock exchange. BeX will be operated by Boston Stock Exchange, a failing exchange that lost almost $2 million in just the past two years.

A new Morgan Stanley director has ties that may generate extra regulatory scrutiny. Roy J. Bostock is connected to a Morgan Stanley hedge fund through his son-in-law, Daniel Waters.

Due to today's wide array of investment options, the demand for asset management has sky rocketed, but the industry cannot expect similar growth in the future, according to a new report from Cerulli Associates, "Evaluating Asset Manager Addressable Marketplaces."

The SEC's investigation into BISYS marketing and distribution agreements with a number of its mutual fund clients has turned up its first related fatality: AmSouth Bank.