Money Management Executive Latest News

Franklin Resources reported that its profit climbed 4.5% in the second quarter, while assets under management rose both from the first-quarter and year-earlier totals.

PlusFunds Group has launched the Style Selection Share Class, a new permutation on the nine-investment strategy index run by Standard & Poor’s. The new allocation model is based on a model from CrossBorder Capital and adjusts according to shifts in credit and market risk.

Exchange-traded funds saw their assets climb $3.14 billion to $121.57 billion in June, according to Washington-based trade association Investment Company Institute.

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 & Co. conducted by Harris Interactive. As a result, a large percentage of the assets now projected to go to heirs may not.

Federal securities regulators have settled enforcement proceedings with the nation’s two biggest investment banks for their roles in the Enron accounting scandal.

Eaton Vance said on Monday it 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.

Safeco Aims to Boost Fund Sales Via Banks

Technology has played an integral role in the development of the financial services industry over its life span, as companies have continually churned out new products that make investing procedures more reliable, more efficient and more cost effective.

Investor confidence in the financial markets is slowly improving, as a recent report showed equity mutual fund flows hit their highest level in more than a year.

Lehman Brothers' acquisition of Neuberger Berman, both of New York, will permit the two firms to diversify and grow their combined $100 billion in assets.