Money Management Executive Latest News

Nations Funds, the mutual fund group managed by Bank of America Capital Management (BACAP), has given its team-managed approach the boot, at least on its two dozen fixed-income funds.

American International Group (AIG) and subsidiary AIG Financial Products Corp. (AIGFP) have submitted settlement offers to the SEC and Department of Justice (DOJ) regarding charges stemming from questionable finance transactions.

Evergreen will close its Mid Cap Value and Technology funds, which collectively failed to attract $17 million

Securities regulators have launched an informal probe of mutual fund and brokerage firms to determine whether brokers doled out lavish gifts to attract trading business.

Merrill Lynch may soon join the charge for financial service firms to begin offering registered funds of hedge funds in separately managed accounts, Dow Jones reported.

Fidelity Canada will launch new low-cost fund share classes

Dow Jones Indexes, a division Dow Jones, is adding more companies to an index of dividend-paying paying stocks tracked by Barclays Global Investors’ $4.3 billion iShares Dow Jones Select Fund, an exchange-traded fund, CBSMarketWatch reports.

Affiliated Managers Group, a Boston asset management company, and AQR Capital Management have announced that AMG has bought an equity interest in AQR's business.

The Security and Exchange Commission’s formal dealings with mutual fund companies may continue into next year if the Commission follows through on plans to punish investment firms for failing to provide mutual fund board members with vital information, Dow Jones reports.

Franklin Templeton Investments has settled charges by Massachusetts securities regulators that it failed to include an admission to wrongdoing in an SEC filing referring to its market-timing settlement with the state. Franklin made news of the settlement in yet another regulatory filing on Monday, Dow Jones reports.