Money Management Executive Latest News

The Securities and Exchange Commission brought and settled enforcement charges last week against three former executives of Alliance Capital Management who were accused of allowing market timing in the firm's mutual funds.

Assets in the hedge fund industry swelled to $1 trillion in the first quarter, although demand for these high-return, loosely regulated investment vehicles remained at 2004 levels, according to a report released by Hedge Fund Research.

Federated Investors on Thursday reported a $51 million charge it took in connection with settlement with regulators over allegations of illegal trading.

A reminder from Money Management Executive to fund and operations executives to submit entries for SourceMedia's 2005 Fund Operations Awards by Monday, May 2. The original deadline of April 25 was extended one week to this coming Monday.

MetLife Inc. said on Wednesday that its stable value funds ended last year with more than $20 billion in assets under management, a $1.4 billion increase over year-end 2003.

Parnassus Investments is launching three new no-load funds, including the Parnassus Workplace Fund. The Workplace Fund will invest on the idea that a company whose employers enjoy good work conditions will perform better in a long run.

Stock and bond funds experienced net inflows of $28.4 billion in March, according to the Financial Research Corporation. International funds saw a net intake of $17.5 billion, while domestic funds followed closely with $16.4 billion in net inflows.

Fidelity Investment's Magellan, the nation's largest stock fund for more than a decade, has dropped to fifth place after investors withdrew an estimated $11.6 billion in the past 12 months, USA Today reports.

Starting May 2, Fidelity Investments will implement a handful of new appointments.

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.