Money Management Executive Latest News

Bill Miller, the venerable captain of the $14.8 billion Legg Mason Value Trust fund, has conceded defeat in his 13-year quest to outperform the Standard & Poor’s 500 index, CBSMarketWatch reports.

Citigroup continues to lead the pack in insurance fee income among banks, according to the most recent results from Michael White Associates. The firm logged $1.2 billion in fee income in the first three quarters of 2003, up 18.53% over 2003.

The NASD has come down on 29 broker/dealers for more than 8,000 instances when those firms failed to disclose reportable information about brokers to customers. The firms have neither admitted to nor denied allegations, but consented to the entry of the findings. Reportable information includes customer complaints, regulatory actions, criminal charges and convictions.

T Rowe Price is taking steps to crack down market timing within retirement plans by penalizing retirement plan investors for quickly selling their newly purchased mutual fund shares, Dow Jones Newswires reports.

Value fund managers who have once again fallen out of favor are now accumulating conspicuous amounts of cash in their portfolios, TheStreet.com reports.

Bill Miller, the venerable captain of the $14.8 billion Legg Mason Value Trust fund, has conceded defeat in his 13-year quest to outperform the Standard & Poor’s 500 index, CBSMarketWatch reports.

Citigroup continues to lead the pack in insurance fee income among banks, according to the most recent results from Michael White Associates. The firm logged $1.2 billion in fee income in the first three quarters of 2003, up 18.53% over 2003.

The NASD has come down on 29 broker/dealers for more than 8,000 instances when those firms failed to disclose reportable information about brokers to customers. The firms have neither admitted to nor denied allegations, but consented to the entry of the findings. Reportable information includes customer complaints, regulatory actions, criminal charges and convictions.

T Rowe Price is taking steps to crack down market timing within retirement plans by penalizing retirement plan investors for quickly selling their newly purchased mutual fund shares, Dow Jones Newswires reports.

Value fund managers who have once again fallen out of favor are now accumulating conspicuous amounts of cash in their portfolios, TheStreet.com reports.