Money Management Executive Latest News

It's Spring and mutual fund breakpoint initiatives are in full bloom at National Securities Clearing Corporation (NSCC) of New York, a subsidiary of the Depository Trust & Clearing Corporation.

Wachovia Corp.'s corporate and institutional trust division started an institutional clearing services unit Wednesday, but industry analysts questioned whether the Charlotte, N.C. banking company would be able to compete in a business where scale is required.

Mutual funds finished the first quarter of the year in the red, with rising oil prices, increasing interest rates and the struggling dollar contributing to the slump in performance.

Manulife Financial Corp. may cut back on some of John Hancock's high-profile sports marketing efforts, company officials said, one year after the Canadian parent acquired Boston's most well known insurer, according to The Boston Globe.

Many financial companies and the NASD are pushing for a move that would change the way mutual fund investors receive prospectuses, the Associated Press reports.

It appears President Bush is about to reveal the one thing that everyone in the mutual fund industry has been eagerly anticipating: details on his controversial proposal to privatize a portion of Social Security.

Wall Street's toughest cop award would undoubtedly go to Eliot Spitzer. But in the aftermath of the scandals that the New York Attorney General unveiled, other regulators are taking an aggressive approach to cracking down on crime on Wall Street.

Wall Street's toughest cop award would undoubtedly go to Eliot Spitzer. But in the aftermath of the scandals that the New York Attorney General unveiled, other regulators are taking an aggressive approach to cracking down on crime on Wall Street.

Russell Investment Group has launched the Russell Top 50, an index that tracks the 50 largest U.S. stocks based on market capitalization. The move, which came yesterday, is likely to attract the attention of large-cap managers.

MSF Investment Management officials said yesterday that the Boston-based firm will reorganize all of its offshore mutual funds into a single fund family.