Money Management Executive Latest News

Frank Sinatra sang that when he was 21, everything came undone. But in 2003, when the mutual fund industry became the "scandal-scarred mutual fund industry," a Sinatra-like downturn that seemed imminent never occurred. In fact, the opposite happened.

With the return of the Dow Jones Industrial Average to the 10,000-plus point mark, the question has to be asked: How long will the bull market last?

U.S. exchange-traded funds turned in a strong performance last month rising to $132.7 billion at the end of November from $129.1 billion in October, the Investment Company Institute said on Monday.

Putnam Investments has announced that Robert Goodman, a managing director and senior economic adviser, will retire on Wednesday.

At a time when holiday festivities should be the center of attention for most, the staff at one fund company, instead of celebrating, is mourning the loss of its leader. On Dec. 11, the founder of Rydex Funds, A.P. "Skip" Viragh, died of pancreatic cancer at his home in Sarasota, Fla. He was 62.

Sun Life Financial’s Massachusetts Financial Services subsidiary could strike a deal with New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission as early as this week, the Toronto Globe and Mail reports.

Raymond James expects to repay investors $6.9 million and the SEC $6.5 million for failure to give investors mutual fund breakpoints, the Associated Press reports. In total, that will impact the company’s revenues by more than $13 million and result in a pretax charge of $9.8 million.

Curian Capital has announced it plans to offer its managed account program through Security Service Investment Group.

Manulife Financial has received a subpoena from New York State Attorney General Eliot Spitzer, Dow Jones reports, citing the Canadian Press.

Raymond James expects to repay investors $6.9 million and the SEC $6.5 million for failure to give investors mutual fund breakpoints, the Associated Press reports. In total, that will impact the company’s revenues by more than $13 million and result in a pretax charge of $9.8 million.