Money Management Executive Latest News

Investors in 401(k)s should be applauded for not bailing on the market during the bleak the past few years, Fidelity Investments reported in a study.

Mutual fund companies' high hopes for marketing hedge funds with low minimum investments, also known as long-short funds, to shareholders with modest means are gradually fading as the asset class continues to attract only lackluster sales, Investor's Business Daily reports.

Scudder Investments Tuesday launched a closed-end management investment fund that invests mainly in equities affiliated with the commodities markets.

Wachovia Corp. said that its Wachovia Securities brokerage unit has received notice from the Securities and Exchange Commission that the agency may recommend enforcement action against the firm for improper mutual fund trading activity.

The Securities and Exchange Commission has launched an aggressive new investigation sifting through the personal fortunes of mutual fund managers for improper investments, The Boston Herald reports.

The Independent Directors Council on Tuesday launched a new Web site designed to help educate more than 3,000 independent directors sitting on mutual fund boards.

The vice chairman of The Options Clearing Corporation has a new Chicago-based position as vice chairman of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security.

Highbridge Capital Management may soon have a new majority owner, Reuters reports, and that owner could be JP Morgan Fleming.

Morningstar is taking steps to refine procedures used to collect fund data on the heels of a Securities and Exchange Commission investigation to determine whether the company should face charges for failing to correct false information regarding a mutual fund on its Web site.

Perritt Capital Management, a Chicago-based boutique fund shop, announced Monday the launch of its second mutual fund, the Perritt Emerging Opportunities Fund.