Money Management Executive Latest News

For its alleged part in a market-timing scheme, Van Eck Associates, which advises the Van Eck Funds, and two of its executives may be facing Securities and Exchange Commission charges, the company indicated in a filing. The news is far from surprising, since the firm has a lot of international funds that trade in different time zones. As the latest in a long list of high-profile companies named in the scandal, including Putnam Investments and Janus Capital, the announcement by Van Eck represents another step down in what seems to be a never-ending stairwell of charges. As Morningstar Director of Fund Analysis Kunal Kapoor put it, "It's been more widespread than most folks would have imagined."

The Securities and Exchange Commission hit Angelo Haligiannis and his Sterling Watters Group hedge fund with an emergency enforcement action for lying to investors about performance, complete with false documents, prospectuses and marketing materials. The fund's general partners, Sterling Watters Capital Advisors and Sterling Watters Capital Management, were also named as defendants.

Following the Mutual Fund Directors Forum's "best practices" could spell a bad reality for investors, a number of independent research firms argue in a letter to the Securities and Exchange Commission.

Rollover Goes With Clark As Vice President of Sales

Participants in 401(k) plans saw their account balances grow by more than 29% last year, evidence that despite a difficult bear market in previous years, investors are still turning to the vehicle as an effective way to save over the long-term. This is according to a recent study released by the Investment Company Institute and the Employee Benefit Research Institute.

Participants in Manulife USA lifecycle funds have reaped higher returns on their investment in the last five years than do-it-yourself asset allocations, a recent survey conducted by investment consulting firm Burgess + Associates shows.

Calvert this week has named Catherine Palmer Roy, a former senior portfolio manager and head of the U.S. fixed-income group and a senior portfolio manager at Baring Asset Management, as chief investment officer of its $6 billion fixed-income department.

Mutual fund investors who are waiting for settlement payments from investment firms are growing impatient because cash payments are, for the most part, being held back until next year, The Orange County Register reports.

Wall Street sources have revealed that BackRock Inc. is in the end stages of a deal to acquire State Street Research & Management Co. from MetLife Inc., The Wall Street Journal reports.

The majority of American teens feel a need to step in and help foot the bill for college, a new study released by Fidelity Investments reveals. According the fourth installment of Fidelity's annual College Savings Month survey, approximately 95% of American teenagers feel an obligation to shoulder some portion of their college education expenses, and 74% believe their families should foot the bill for nor more than half of their college tuition. Fidelity hopes to use the study results as leverage for promoting its proprietary 529 college savings plan.