Money Management Executive Latest News

RBC Dain Rauscher has introduced a one-stop parking space for clients with $250,000 to spend and the urge to simultaneously invest in mutual funds, separately managed accounts and ETFs. Called RBC Total Portfolio, the unified managed account will allow investors to either select pre-configured models or build their own investment style. The portfolio is the latest in the UMA trend.

As the costs of emerging market equities plummet, investors are increasingly becoming able to buy into the market easily via exchange traded funds, Reuters reports.

Assets in fast-growing 529 college savings plans reached $43 billion at the end of the second quarter, according to data collected by Boston-based Financial Research Corp.

While other firms like Putnam and Janus have suffered from the outflows that go with improper trading allegations, charges and settlements, T. Rowe Price has perhaps been the main beneficiary in the mutual fund industry, The Baltimore Sun reports. Fidelity and Vanguard have also stayed above the improper trading fray, and have continued to churn sizeable profits.

Boston-based Affiliated Managers Group revealed plans this week to develop a new subsidiary that creates, distributes and services mutual fund and separately managed accounts.

Don’t expect investors to pour all their money into stocks, bonds or mutual funds before the 2004 election, research firm Lipper said in a report Monday.

Keeping secrets doesn’t make for good friends, and mutual fund boards have been losing friends since September, thanks to secret trades. Now they have figured out a way to perhaps earn some of those friends back by disclosing proxy vote results. More accurately, they are simply following a new rule by the Securities and Exchange Commission. Mutual fund companies will soon start reporting the results of proxy votes, meeting the SEC imposed Aug. 31 deadline that requires the disclosure, The Wall Street Journal reports.

Those who participated in market timing during the recent mutual fund scandals are being punished by redemption fees or even told to stay out completely, according to The Wall Street Journal.

A former Canadian Imperial Bank of Commerce employee currently serving a two-year conditional sentence for committing a $20 million fraud involving mutual fund clients has been sentenced to one year in jail by a Canadian court.

Thirty years after their introduction, separately managed accounts are now popular enough to almost be considered mainstream, CBS MarketWatch reports.