Money Management Executive Latest News

Once reserved for only the wealthiest of individual and institutional investors, private equity funds are now targeting more high-net-worth individuals by slashing the minimum investment to as little as $25,000.

The U.S. District Court has brought the first criminal charges against an individual in the ongoing mutual fund trading scandal, The Wall Street Journal reports this morning.

Once the bastion of old wealth and privilege, Greenwich, Conn., is ever becoming the center of new wealth and hedge fund wheeling and dealing, The Wall Street Journal reports in this morning's edition.

Tremont Capital Management, Inc. plans to open an office in Hong Kong under the Tremont Capital Management (Asia), Ltd. name in the first quarter of 2006 in a bid to capitalize on the growing hedge fund market in the Pacific Rim.

Investment Company Institute President Paul Schott Stevens has commended the Securities and Exchange Commission on its choice of confirming Representative Christopher Cox as its chairman.

More mutual fund companies are charging 401(k) participants for moving money around in their plans, The Wall Street Journal reports.

Putnam Investments indicated Monday it will oppose Washington Mutual's plan to take over Providian Financial, of which it owns 7.5% of stock.

Federated Investors Inc. has reported a 25% decline in second-quarter profit partly because of a charge the Pittsburgh investment management company had to take related to improper trading.

According to the Investment Company Institute, the combined assets of the nation's mutual funds increased by $92.6 billion, or 1.1 percent, to $8.216 trillion in June. In the survey, mutual fund companies reported actual assets, sales and redemptions.

As it set aside more money for an anticipated settlement over its mutual fund trading practices, Federated Investors reported that its second-quarter net income fell by 25%, according to a Pittsburgh Post-Gazette report.