Money Management Executive Latest News

Rydex Investments on Wednesday launched three new mutual funds: the Rydex Commodities Fund, the Rydex Strengthening Dollar Fund and the Rydex Weakening Dollar Fund.

Barclays Global Investors said on Wednesday that the board of directors of iShares Inc. and the board of trustees of iShares Trust have authorized a three-for-one, or two-for-one split, of 12 iShares Funds for shareholders of record on June 6 and payable on June 8.

Perhaps the only thing that people can agree on is that mutual fund disclosures need to change, and that's just what the Securities and Exchange Commission is hoping to accomplish. During this crucial time, many within the industry argue that investors are being bombarded with too much information, while others say that it is too risky to pare down the documents, Dow Jones Newswires reports.

The most recent rally is ephemeral at best and the economy is likely to take another sharp downturn before really picking up steam, according to Federated Investors fund manager Steve Lehman, Investor's Business Daily reports.

Seven counts of fraud were dismissed in the criminal case against former Bank of America broker Theodore Sihpol Wednesday after the defense successfully contested charges of destroying and falsifying records.

The Vanguard Group has decided to adopt a multi-manager advisory structure for the $2.9 billion Vanguard Selected Value Fund.

Prosecutors in the criminal trial of former Bank of America broker Theodore Sihpol rested their case on Monday after calling human resources executive as their final witness, who testified that Sihpol's compensation rose sharply in the years he allegedly helped Canary Capital make improper trades, The Wall Street Journal reports.

Back-office service provider BISYS announced Monday it has been awarded an outsourcing contract with portfolio manager Icon Advisers, under which BISYS will provide fund accounting, financial administration, legal, compliance and regulatory services.

ProFund Advisors, which oversees the ProFunds family of mutual funds, is close to a deal for the naming rights to the stadium that houses Major League Baseball's Washington Nationals, The Baltimore Sun reports

In what is being perceived as a major development in the debate over 12b-1 fees, the U.S. Department of Labor has delivered an advisory opinion that says banks, brokerage firms and investment firms cannot accept payments from mutual fund firms in exchange for guiding retirement account customers into those funds.