Money Management Executive Latest News

Diving into a booming market, Principal Financial Group Inc. announced Monday that it has acquired Hong Kong-based Dao Heng Fund Management Limited from the Guoco Group. Official terms of the deal were not disclosed.

The Securities and Exchange Commission’s settlement with Massachusetts Financial Services did not punish the company’s two top executives harshly enough, according to a dissenting opinion by one of the commissioners, Cynthia Glassman.

MFS Investment Management said on Monday that Chairman Jeffrey Shames has resigned and will be replaced by former Fidelity Investments Vice-chair Robert Pozen.

Investment management giant Federated Investors said Monday its quarterly profits dropped 12% after taking a $20 million charge to cope with improper mutual fund trading.

Franklin Resources on Monday said that improper trading of its mutual fund shares were isolated incidents that do not reflect widespread company abuses and did harm long-term shareholders.

The biggest fear among almost 48% the nation’s employees is "outliving their savings," according to a recent MetLife study about employee trends.

Recognizing the mutual fund industry’s need to combine technology and compliance solutions in order to curb trading abuses, IBM and Mantas, Inc. have joined to preemptively cure the industry of the transgressions that have dominated the headlines since early September.

Putnam Investment’s long uphill battle officially began last November, when industry icon Larry Lasser was asked to leave the firm and Charles "Ed" Haldeman, Jr., stepped in and was charged with turning around the embattled fund giant.

It’s electric!

The hostile bidding on two Japanese companies by a U.S.-based hedge fund may trigger other investors to try and do the same, according to hedge fund managers speaking at a New York press conference Thursday, Reuters reports.