Money Management Executive Latest News

It’s not just broker/dealers’ clients who are experiencing lower net worth. The companies themselves have seen a decline in net worth of $884 million, or 1.9%, between year-end 2001 and year-end 2002, according to a report from Weiss Ratings.

Spitzer Probe Could Derail Janus Capital's Rebound

Sarbanes what? The landmark legislation passed last year in response to rampant accounting misdeeds has disappeared from the headlines but continues to be a thorn in the side of fund executives and accounting personnel.

It's open season on the mutual fund industry, as New York State Attorney General Eliot Spitzer's probe of mutual fund trading practices has triggered a barrage of investor lawsuits.

It may be getting awfully crowded on the separately managed account playing field. But if a firm has truly talented managers that offer great performance, and management is willing to focus the firm's efforts and resources on distributing to a few select sponsors, it can carve out a successful path.

Tongues are wagging and fingers are pointing.

Fear and greed are what drives Wall Street. Just because the mutual fund industry serves the higher calling of providing for the retirement security of 95 million Americans, it appears to be no better than the next hypocritical analyst, commission-hungry trader or manipulative investment banker. Greed is greed. Even in the fund industry.

The Securities and Exchange Commission reportedly is considering subjecting hedge funds to routine inspections. The SEC is particularly interested in reviewing hedge funds' trading strategies, although the SEC reportedly does not want to publicly disclose these trading strategies. The SEC is expected to release the findings of its investigation of the $600 billion hedge fund industry by the end of this month or early next month.

TIAA-CREF and Tuition Plan Consortium, an Albuquerque, N.M.-based not-for-profit group have launched the Independent 529 Plan to allow participants to put savings toward tuition at private colleges. Similar to traditional 529 plans that apply to public institutions, the plan locks in current tuition costs and remains fixed despite tuition increases.

Kauser Management has launched The Technical Chart Fund, a market-neutral, no-load, mutual fund that incorporates hedging strategies and is managed by a former hedge fund manager. The Technical Chart Fund is designed to achieve long-term capital appreciation during all market phases and holds both long and short positions of stocks. The minimum investment is $5,000 and $1,000 for retirement accounts. It is part of the Professionally Managed Portfolio Series managed by US Bancorp Fund Services. The fund will always hold both long and short positions, but will never allow short positions to outnumber the long ones.