Money Management Executive Latest News

Performance is back in vogue for mutual fund advertisements, and that is bad news for investors.

New York Attorney General Eliot Spitzer has been called everything from "The Most Feared Man on Wall Street" [see MME 11/10/03] to "tough cop" to "legal extortionist." He's even been dubbed "judge, jury and prosecutor."

For some time now, financial services companies, especially American ones, have been warded off by Japan's lackluster economy, in particular its prolonged battle with deflation.

State Street Corp., the financial industry's biggest recordkeeper, doesn't plan to be part of any consolidation trend that might spread through the custody services industry.

Old Mutual Asset Management has acquired a majority interest in Copper Rock Capital Partners, a small-cap growth shop comprised of veterans of other Boston-based mutual fund companies, the Boston Globe reports.

Money market funds have started to increase fees after cutting them during the days of low returns. Now that the economy is doing well, enough for money market fund yields to rise, funds are pushing up expense fees, according to Bankrate.com.

March was an unimpressive month for mutual funds because markets were down, according to a research report by Lipper.

As the debate whether mutual funds should charge performance-based fees continues, Don Cassidy, a senior research analyst at Lipper, says the main reason such fees have not caught on is that more funds underperform than overperform benchmark indexes.

As the debate whether mutual funds should charge performance-based fees continues, Don Cassidy, a senior research analyst at Lipper, says the main reason such fees have not caught on is that more funds underperform than overperform benchmark indexes.

BISYS Group Inc. issued an announcement yesterday that the Securities and Exchange Commission's investigation into the structure and accounting of its arrangements with certain mutual fund advisers is continuing.