Money Management Executive Latest News

NEW YORK - A defense attorney in the criminal case against former Bank of America broker Theodore C. Sihpol III made his summation Tuesday, emphasizing to the jury that Sihpol never intended to commit a crime when he helped hedge fund Canary Capital Partners engage in late trading of mutual funds.

Fidelity Investments said on Thursday that it had entered into a new agreement with Ibbotson Associates, an institutional investment advisor and leading authority on asset allocation strategies, to offer independent investment advisory services to the more than 10,000 defined contribution plan sponsors serviced by Fidelity, for their participants.

A mutual fund entrepreneur is using a new strategy to invest his money. To test whether his investments are sound, 42-year-old Nicholas Gerber sets up his own rival company to see how tough barriers to entry are, according to Dow Jones.

Total assets in the country's exchange traded funds in April fell 3.6% to $220.59 billion, according to the Investment Company Institute. The ICI also said that the total assets in the country's closed-end funds stood at $259.65 billion at the end of March.

The Securities and Exchange Commission may undertake some major policy transformation as changes in top personnel could shift the balance of power, Reuters reports.

Running contrary to declines in the broader market from March to April, equity mutual fund inflows increased month over month by about $3.5 billion, or roughly 24%, according to Lipper Senior Research Analyst Andrew Clark.

NEW YORK - The biggest criminal trial in mutual fund history is nearing judgment day as both sides gear up for their summations, but not before some interesting twists and turns.

The Growth Act, a surprisingly obscure piece of tax code reform legislation that could be a boon for the mutual fund industry, has found a key ally in the Investment Company Institute.

WASHINGTON - Mutual funds may be an undisputable mainstay in investors' portfolios - but investment advisors should carefully consider whether they want to also offer complementary or competing products such as separately managed accounts (SMAs), exchange traded funds (ETFs), commingled trusts and/or hedge funds.

Democratic National Committee Chairman and former presidential candidate Howard Dean said his party won't come to the table to discuss Social Security reform unless President Bush removes his controversial private accounts from debate.