Money Management Executive Latest News

Janus plans to swap 32.3 million of the nearly 40 million shares it owns in DST Systems, a data processing subsidiary, in exchange for ownership of a commercial printing and graphic design unit of DST, Janus announced Monday. Janus will rename this unit JCG Partners.

M&T Bank unveiled the newly organized MTB Group of Funds Tuesday, the result of its acquisition of Allied Investment Advisors on April 1. The new fund family is the combination of the Vision Group of Funds and the Ark Funds. A division of M&T Bank was the investment advisor to Vision, while Allied was investment advisor to Ark.

While many portfolio managers stay away from illiquid, unknown, micro-cap stocks, the managers of Gabelli Asset Management’s Japan hedge fund are gravitating to such issues, Reuters reports.

John Hancock Advisers acquired the M.S.B. Fund from Shay Assets Management last Friday. The diversified, large-cap blend fund, which has $52 million in assets, will now be known as the John Hancock Large Cap Select Fund.

Putnam Lovell Private Equity, which invests in asset management firms, has acquired a minority stake in PowellJohnson, the two companies announced Monday. Terms of the deal were not disclosed.

Ibbotson, a provider of asset allocation analysis and tools, has launched a marketing services division, Agency Ibbotson. The unit will help asset management firms – providers of mutual funds and alternative investments – with their marketing plans, including creating custom marketing materials, education and research. Agency Ibbotson will provide everything from a multi-tiered marketing campaign to a single sales presentation.

With the stock market rebounding since March, small- and mid-cap stocks have led the way, true to textbook cases of the beginning of bull markets, The Wall Street Journal reports.

MorganFunShares, a closed-end fund that invests in alcohol, tobacco and casinos, will close later this year as it failed to convert enough sinners, Reuters reports. Robert Pincus, president of the fund, said he decided to close the fund due to a number of factors, including the fact the fund has only $8 million in assets and, as a closed-end fund, it is difficult to raise additional assets. Mutual funds generally are not profitable when they have less than $50 million in assets, according to Reuters.

At the core of the relationship between an investment advisor and client is trust, making the past three years especially trying.

In a move that could influence others in the mutual fund industry, Fidelity Investments has dumped a large portion of its holdings in mortgage companies Freddie Mac and Fannie Mae.