Money Management Executive Latest News

Placemark Investments has announced that more than 100 investment managers are now participating in its Unified Managed Account (UMA) programs via the firm's overlay management process.

As hedge fund wealth asserts itself in real estate and rare art, it is also reverberating through New York's philanthropic organizations. To the delight of fund-raisers, the success of hedge funds is creating a new pool of wealthy donors worth tens of millions, even hundreds of millions, of dollars, according to the New York Times.

The nation's largest proxy-advisory firm is backing Harvard College's attempt to liquidate the Korea Equity Fund.

Old Mutual is starting a protected hedge fund that guarantees investors a minimum return. The Old Mutual Prosper 80 fund will give investors a return of at least 4% over the Bank of England base rate, according to ifaonline.co.uk. Furthermore, the hedge fund will never return less than 80% of the highest account value.

Life insurance is traditionally a labor-intensive and complex sale, one that turns away many brokers accustomed to the ease of "dropping a ticket" in a simpler securities transaction. Depository Trust and Clearing Corp. (DTCC), however, has taken a step towards simplifying life - life insurance, that is - with a new program called InsurExpress.

The New York Stock Exchange is looking into nipping "VWAP," an increasingly common trade-order and hedging technique, in the bud, according to this morning's Wall Street Journal.

Mellon Financial announced Monday it has promoted Vicary M. Graham to regional president of its private wealth management group in Massachusetts.

Nuveen Investments, a Chicago money management company, announced Monday that it had agreed to buy Santa Barbara Asset Management.

U.S. Bancorp Asset Management has named Jim Greenawalt, a senior consultant to the company for nine months, to head distribution.

Amvescap, parent to the AIM and Invesco fund brands, indicated Tuesday its second quarter profit had fallen 7% to 60.3 million pounds, or $106.9 million, from 59.1 million the previous quarter. Analyst consensus had forecast that figure at 62.2 million pounds.