Money Management Executive Latest News

The House Financial Services Committee passed The Securities Fraud Deterrence and Investor Restitution Act (H.R. 2179), which would permit the SEC to more easily collect fines and funds from those who have broken the law. It would also increase the amount of funds the SEC would be able to return to injured investors.

Rydex Investments has just launched 11 new funds spanning market capitalizations and investment styles, ranging from small-to large-cap, value to growth.

Browchuk Named Head of Putnam DC Servicing Unit

MIAMI -- With Baby Boomers turning age 50 at a rate of 12,000 a day, meeting the needs of mutual fund investors has forced investment advisors to redefine retirement. That's one person every eight seconds for those scoring at home.

The number of mutual funds lowering fund-management fees is proliferating, and as the mutual fund scandal continues to unfold, this trend should spread, according to industry analysts.

Janus issued a release Friday saying it expects institutions to withdraw $4.5 billion from its funds in the first quarter. The figure is on top of $1.8 billion in institutional money that walked out the door in the three months through February.

Citing its track record of preemptively closing mutual funds before current investors become harmed, the Vanguard Group has closed two of its top funds to new investors, effective Thursday, March 4.

A top-level securities regulator on Friday warned brokerages against trimming refunds due to investors who were promised breakpoint discounts on bulk purchases of mutual fund shares.

Warren Buffet, in his widely anticipated annual letter to Berkshire Hathaway shareholders, blasts fund companies that cheated millions of investors through market timing and late trading, as well as directors who fell short of their duties.

WASHINGTON – The Securities and Exchange Commission has ordered a new surveillance program for the mutual fund industry to halt future improprieties, Chairman William Donaldson said Friday.