Money Management Executive Latest News

Asia may not see a sizeable domestic asset management industry for a long time, owing to Asians' reluctance to invest, asset management executives said during a panel discussion at a hedge fund conference in Hong Kong on Monday, according to Reuters.

Canadian mutual fund companies face tough competition from other avenues as the hype of the 1990s bull market wears down, the Financial Post reports. With greater affinity toward high-yielding instruments such as income trusts and structured products, Canadian investors are likely to pull the plug on mutual funds.

New Jersey regulators on Tuesday revoked the licenses of three former Merrill Lynch brokers accused of fraud for conspiring with a hedge fund to make tens of thousands of market timing trades.

The mutual fund business is likely to undergo tremendous change in the years ahead, according to Don Putnam, co-founder of investment bank Putnam Lovell NBF Securities. In an interview with MarketWatch, Putnam said that in light of the changing regulatory environment and mounting conflict-of-interest concerns, the mutual fund industry is ripe for mergers and acquisitions.

Despite suffering massive outflows in recent years, Janus Capital Group's chief investment officer, Gary Black, is confident that the company will make a turnaround by year-end. In an interview with Reuters, Black said the company has undertaken several efforts to improve performance.

The chief executive officers of 14 major pan-European asset and fund management companies have teamed up in a new forum to push their case for a single EU cross-border investment market, Reuters reports.

Janus Capital Group has shut down its Bay Isle Financial office in Oakland, Calif., and cut nearly its entire institutional money management team, including co-founder and Chief Executive Officer Bill Schaff, leaving the future of the subsidiary hanging in the balance.

PALM DESERT, Calif. - Paul Schott Stevens says his organization isn't advocating the establishment of personal retirement accounts as a solution to the looming Social Security shortfall, but the Investment Company Institute president has heard quite enough of what he calls "misleading" and "pessimistic" rhetoric.

The Securities and Exchange Commission plans to get its CCO Outreach program underway in late spring to early summer in an effort to better communicate and coordinate with mutual fund chief compliance officers, Chairman William Donaldson told attendees at the Investment Company Institute Mutual Funds and Investment Management Conference.

Merrill Lynch has reached a $13.5 million joint settlement with state regulators and the New York Stock Exchange over charges that it failed to supervise a group of financial advisers who engaged in abusive market timing of the firm's mutual funds.