Money Management Executive Latest News

Tripping over Federal securities regulations can bring a mutual fund advisor to its knees. But running afoul of state securities divisions can also be painful.

After near-record highs set by equity funds in January, not unexpectedly, February couldn't live up to the same expectations, according to a monthly report from Lipper. But it was a brave attempt.

AIM Investments has stepped up efforts to publicly disclose its directed-brokerage activities and allocation of marketing fees. Newly drafted prospectus supplements filed with the SEC clearly outline the fund provider's intent to reveal non-binding sales goals with third-party brokerage firms and other potential investment distributors, a move lauded by shareholder advocates but implemented by very few asset managers.

Putnam Investments is cracking down on the perks brokers use to entice fund managers and other executives to give them their business.

Hedge fund firm HFR Asset Management has created the position of chief marketing officer and filled it with Wilson "Bill" Santos, a 20-year industry veteran who has held management positions at such high-profile firms as Montgomery Asset Management, Fidelity Investments and Bear Stearns.

Saying it is still not even close to being finished in its national sales force expansion, Lord Abbett & Co. hired S. Chris Fiacco to its sales group.

Scott C. Evans, executive vice president of CREF Investments since 1997, has been named chief investment officer of parent company TIAA-CREF, the No. 1 higher education and research employee retirement system in the United States.

To help with its U.S. development and support operations, Man Investments has announced the hiring of Alan F. Delcorse and Russell C. Smith as vice presidents of intermediary sales. The two will work out of Chicago. Man Investments, the U.S. wing of Man Group PLC's asset management division, said the two will be responsible for the company's relationships in both the Chicago area and the Northeast.

American Century Investments of Kansas City, Mo., is breaking out of its previous mold. With approximately $90 billion in assets under management, American Century spent much of 2003 setting the groundwork for its reemergence as a bigger and better money manager.

Even the throes of the fund scandal cannot keep some firms from bragging about themselves.