Money Management Executive Latest News

Strong Financial took home the "Star Award," for Overall Communications Effort, considered the event’s most prestigious prize, even as the firm is mired in the heart of the worst scandal in the history of the fund industry. Strong’s showing was not weak, as it won first-place among large companies in five other categories. TIAA-CREF Mutual Funds was the most frequent winner out of the small companies, while Ariel held the distinction among medium-sized companies.

Cash compensation for wholesalers of investment products and services increased 3% in 2002, according to executive search and consulting firm DGL Consultants.

The board of trustees of Bank of America has named a new interim chief for its mutual fund group after the former head was fired amid a probe of alleged trading violations.

The Investment Company Institute endorsed the Securities and Exchange Commission’s recently approved action aimed at making fund advertisement more balanced.

On the heels of success in categorization with U.S. funds, Morningstar has announced an October launch for a foreign funds classification system that the company hopes will aid fund-owners in investment decisions.

After examining hedge funds for over a year now, the Securities and Exchange Commission staff is ready to recommend all hedge fund managers be required to register with the regulatory agency, according to sources, Bloomberg reports.

In examining the companies in which they have holdings, shareholders have become more forceful and willing to ask questions, a new survey shows.

Credit Suisse Asset Management, the institutional and mutual fund arm of Credit Suisse First Boston, has named Dennis Schaney, formerly of BlackRock Financial Management, as its global head of fixed income, filling a new position.

Hennessy Advisors added a fifth fund to its no-load mutual fund group when it announced the launch of the Hennessy Focus 30 Fund Wednesday.

The U.S. Securities and Exchange Commission approved a new rule on Wednesday requiring mutual fund companies to provide more balanced information in their advertisements when promoting fund performance.