Money Management Executive Latest News

WASHINGTON – The fees imposed by pension funds and mutual funds are virtually identical once the two entities are compared as "apples and apples" through sub-accounts, an Investment Company Institute economist concluded via a conference call Tuesday.

Dennis Weatherstone, former head of J.P. Morgan, is being pursued by The New York Stock Exchange to be its next chairman, Reuters reports.

Idex Mutual Funds is asking shareholder for permission to reorganize several of its funds, merging several and eliminating the name Janus from many of the funds, Dow Jones reports.

Hedge funds are charging a whopping 80% more in fees than actively managed offshore equity mutual funds, according to a research report issued Monday.

In an effort to offer a more diversified product to investors, T. Rowe Price introduced the Diversified Mid-Cap Growth Fund last week, a fund geared toward the mid-cap growth area.

A slew of U.S. regulators warned banks, including their senior management and boards of directors, of the pitfalls of providing financial support to faltering mutual fund firms they advise, in a joint policy statement released on Monday.

Putnam Investments’ board of trustees approved a 2% redemption fee on short-term trades today, a move that should help curtail the market timing practices that have marred the nation’s fifth largest fund firm.

It was hard for Morningstar to pick just one Vanguard domestic stock portfolio manager as the category winner in its 18th annual Fund Manager of the Year awards selection. So it picked three. Actually, it had to, considering Vanguard Primecap has three managers.

In what should have been a three-month red carpet rollout to an 80th birthday party, the mutual fund industry is not even thinking of a gala. Instead, it is pondering mistakes of the recent past and reforms for the near future.

Sorting the lint from the clean clothes in the scandalous mutual fund dryer is not as easy as some would lead us to believe. After all, the money attached to enforcement of reforms will come from the jeans pockets of middle-class fund investors.