Money Management Executive Latest News

Fidelity Investments has started a bond fund that offers investors access to the entire U.S. dollar-denominated bond market.

The U.S. asset management arm of Old Mutual PLC has announced that assets under management by the unit increased 2.1% during the second quarter.

In a perilous time for Janus Capital Group, the news is not improving. The company indicated that one of its clients plans to withdraw $5 billion by the end of 2004, a figure that represents a huge chunk – 3.7% – of the company’s assets under management, according to Reuters.

With increasing regulation on the minds of mutual fund investors, independent fund directors are becoming better practiced at speaking their minds, The Wall Street Journal reports.

Stephen Treadway, the CEO of PIMCO affiliate PA Distributors who was charged with fraud back in May, has left the company, Reuters reports.

Fidelity Investments reported that its brokerage unit got a tidal wave of net new client assets in the second quarter, while trading volume jumped 75%, when compared to the corresponding period last year. Net new client assets checked in at $23.8 billion, a large increase over the $2.5 billion the unit raked in during the second quarter of 2003. This category included the sales of both Fidelity and non-Fidelity funds and securities.

Morningstar ripped into Federated Investors and Fremont Investment Advisors last week, urging investors to avoid sending new money to the shops, only later to shy away from specific criticisms it had levied, but maintaining its recommendation.

The wait for details on the SEC's new fund independence rules is over, for last Tuesday, the Commission released its final regulations.

The days of cloak-and-dagger proxy ballots are over.

Citigroup has reportedly received a Wells notice from the Securities and Exchange Commission related to dealings at its mutual fund arm, Smith Barney. Back in November, Citigroup admitted to regulators that an agreement to erect an internal transfer-agent wing was not disclosed to the company's own mutual funds. To correct the problem, it said it would pay $17 million back to the funds.