Money Management Executive Latest News

With all the focus given to new generations of multiple discipline portfolios (MDPs) in the past year, it would appear that the industry is experiencing a widening generation gap, even before it has fully explored the full potential of MDPs in their current incarnation.

The Securities and Exchange Commission sure does talk a tough game, but when it came to its settlement with Putnam Investments of Boston earlier this month, the agency was speaking in whispers.

Four special individuals have been chosen as this year's recipients of the Money Management Institute's Pioneer Award. Since 1999, the annual Pioneer Award has been bestowed to those worthy individuals who are selected because of their initiatives to build and form the separately managed account industry. This year's award presentations will be made during this week's Money Management Institute's annual conference in Boston.

In their hot pursuit of the high-net-worth and separately managed account markets, investment managers have lowered investment minimums to less than $100,000 and created model investment platforms.

State 529 college savings plans are becoming more price sensitive, most likely in response to regulators’ growing concerns over mutual fund fees and an awareness that most 529 investors are do-it-yourself’ers who are searching for low fees, The Wall Street Journal reports.

Many European countries – France, Ireland, Germany, Switzerland, the Netherlands and Luxemboug – are allowing investors with only a few thousand dollars to invest in hedge funds, The Wall Street Journal reports. This is a far cry from the requirements in the U.S. that an investor by accredited with a minimum net worth of $1 million or more and have earned $200,000 or more in the past two years.

Conseco Inc. said in a regulatory filing Thursday it has received both a Wells Notice from the SEC and notification by New York Attorney General Eliot Spitzer’s office that the firm may be charged in relation to improper trading in its variable annuities products.

The Canadian Imperial Bank of Commerce is facing a class-action lawsuit in relation to the market timing scandal battering the mutual fund industry, reports The Globe and Mail.

In order to sidestep the challenge of accurately rating new mutual funds, Lipper has announced new technology designed to evaluate new mutual funds based on old mutual funds.

Outsourcing giant BISYS announced it has been picked by Trusco Capital to provide the company with a bevy of outsourcing options, including administrative services and regulatory guidance.