Money Management Executive Latest News

After 22 years with the firm, Andrew Adelson, chief investment officer and manager of international investments for AllianceBernstein Institutional Investment Management, is hanging up his hat, a staff member at the firm said.

The National Association of Securities Dealers at press time was reportedly investigating Prudential Securities for potential late trading out of the company's Boston office.

Alliance Capital and Deutsche Bank are two other giants that New York's top regulator may come down on next, according to reports last week.

Most stock mutual funds, 96.3%, rose during the third quarter of 2003, according to Weiss Ratings. Average gain was 5.24%, lower than the 16.38% of the previous quarter.

LIMRA International has created the Retirement Resource Center to help carriers and distributors serve consumers. The center provides information and support services on retirement and retirement risks.

Charles Schwab Investment Management, the asset management arm of Charles Schwab & Co. said that it is adopting the entire family of U.S. mutual funds from AXA Rosenberg, pending AXA shareholder approval.

Fidelity Investments has announced plans to buy a software development company that provides learning management systems, as the fund giant looks to broaden the capabilities of its big human resources outsourcing business.

Cost and volatility concerns related to defined benefit plans have led more than 20% of plan sponsors to either freeze or consider a freeze on pension plan benefits, according to research by Aon Consulting.

Nearly half of employees who change jobs cash out their 401(k) plans, a new report from Hewitt Associates finds.

Microsoft Corp.’s Excel spreadsheet program will have a new feature beginning in early 2004 – financial reports from over 12,000 companies right at the user’s fingertips.