Money Management Executive Latest News

High-net-worth clients are in demand these days and are being targeted by some unlikely sources. Associated most with separately managed accounts and hedge funds, affluent investors are now being courted by 529 plan sponsors.

For Nuveen Investments of Chicago, it's been a long, evolutionary journey through the world of money management. That voyage has transformed the firm from a small niche municipal bond player into a broad-based, multi-disciplinary equity, fixed-income and alternative investment management force to be reckoned with. Nuveen is 80% owned by The St. Paul Companies of St. Paul, Minn.

Financial intermediaries often explain to clients that wants and needs are two different animals. But the same holds true for the intermediaries themselves, particularly separately managed account advisers.

Affluent Americans over 45 may intend to leave a legacy to their children, but 75% of them haven't made any such plans, according to a study from Charles Schwab conducted by Harris Interactive. As a result, a large percentage of the assets now projected to go to heirs may not reach them.

Eaton Vance has launched the Eaton Vance Tax-Managed Dividend Income Fund, an equity-income fund designed to take advantage of new favorable tax rates on dividend income.

MassMutual Financial has added push e-mails to its defined contribution and defined benefit services.

Bank One has hired Jeff Cusack as product and marketing head in its private client services unit.

Federated Investors has hired four investment analysts for its global equity research division. Francisco Duque, Guy Hardwick and Naimish Shah have joined the firm as senior investment analysts, while Jun Zhao comes on board as an intermediate investment analyst. All four report to Christopher Corapi, head of global equity research.

Gabelli Asset Management

As Vincent Lai has resigned as the portfolio manager of The Taiwan Fund, the fund's investment advisor, HSBC Asset Management, has appointed Alan Huang to act as the fund's lead portfolio manager. Jovi Chen will continue to serve as deputy fund manager.