Money Management Executive Latest News

Total assets in the nation's exchange-traded funds in March reached $228.7 billion, up 2.2% from $223.86 billion in February, according to the Investment Company Institute.

Starting this week, Fidelity Investments will implement a handful of new appointments. Matthew W. Fruhan has been named portfolio manager of Fidelity Large Cap Stock Fund. Fruhan, who will succeed Karen Firestone, has managed Fidelity Select Financial Services Portfolio, Fidelity Advisor Financial Services Fund and VIP Financial Services Portfolio, and served as financial services sector leader, since April 2004.

Lord Abbett Taps Bartlett as Director of Growth Equity

Some may consider values like financial strength, integrity and humanity a bit stodgy for an advertising campaign by a financial services company in the 21st century, but not at New York Life.

Nuveen Investments plans to launch a new closed-end exchange-traded fund this month that will invest in call and put options in order to enhance performance and hedge against downside risk. It will be called the Nuveen Equity Premium Advantage Fund.

Fidelity Investments is closing its $2.1 billion International Small Cap Fund on May 5 to most new investors after assets increased almost threefold since the beginning of 2004.

Privatization of Social Security could be very risky business, considering that personal accounts would put money in the hands of many Americans who are woefully ignorant of the basics of the economic system and common investment vehicles, such as mutual funds, The New York Times reported last week.

The Securities and Exchange Commission is urging mutual funds to utilize its newly launched volunteer program to report key financial information via Microsoft's eXtensible Business Reporting Language (XBRL), a code that enables documents to be filed on EDGAR in a uniform manner.

ProFund Advisors LLC on Wednesday launched the Access Flex Bear High-Yield Fund, a mutual fund designed to increase in value when the high-yield bond market falls. The fund follows on the heels of the company's recently introduced Access Flex High-Yield Fund, which is designed to increase in value when the high-yield market moves up.

Deutsche Bank's UK institutional asset management unit continued to suffer significant outflows in the first quarter, while the bank's overall assets shot up by 24 billion euros.