Money Management Executive Latest News

Fixed income giant BlackRock, Inc. saw its profits rise 22% in its fiscal fourth quarter, up 11 cents a share from the same period last year, the company said Wednesday.

The SEC proposed an amendment to the 1940 Act yesterday that would require all mutual fund and other investment advisors to adopt a code of ethics that would apply to all supervisors, portfolio managers and other key personnel.

An NASD rule that requires securities sold short to change hands by settlement date was expanded to include non-member brokers and dealers, the NASD announced Wednesday.

Nearly one-third of CEOs said they will never entirely trust their mutual fund due to scandals currently plaguing the industry, according to TEC International’s quarterly survey of chief executives.

The head of Fidelity Investments' clearing services unit says he believes this year will be another strong one for the Boston company in the bank channel as more banks look to broaden their investment services offerings.

Bank One, the nation’s sixth largest bank, said on Tuesday corporate profits rose 16% in its latest quarter fueled by strong banking and credit card revenue and fewer bad loans.

Jill Paitchel has joined Janus Capital Group as president, Janus International, the company announced Tuesday.

While the SEC is known for holding public comment periods, it’s now holding a truly public comment period.

Vanguard's re-energized International Explorer Fund has a new minimum initial investment amount - $25,000. The increase from the previous $10,000 initial amount was part of "an effort to curtail substantial cash inflows," the company said.

The board of trustees of BoA’s Nations Funds by the end of next month will be firing Invesco Funds and Putnam Investments as sub-advisors on the Nations International Equity Fund, Money Management Executive reports in this week’s hard-copy edition.