Money Management Executive Latest News

The Oakmark Small Cap fund said Edward Studzinski has been named co-portfolio manager. Studzinski’s previous position was that of an investment analyst and co-portfolio manager of the Oakmark Equity and Income fund, a position he has held since March 2000.

SEI Investments said Thursday second-quarter net income dropped 4.2% citing lower trading volume, a decline in revenue, and a loss on investments.

As interest rates have declined to their lowest level in 45 years and individual investors pull cash from money market mutual funds, municipalities and other institutional investors have been moving money into the funds, the Wall Street Journal reports.

New York Life Insurance and Annuity Corporation introduced The Pinnacle Lifetime Guarantee, an insurance product designed to provide permanent and adaptable life insurance coverage to business owners and high-net-worth clients aiming to provide for their heirs and conserve their assets.

U.S.- registered global stock funds have been getting assistance from a weak dollar as it boosts foreign holdings in portfolios, Reuters reports.

E*Trade Group said it plans a partial rebate 50% of the 12b-1 and shareholder service agreement fees to shareholders that it collects from mutual fund companies for distributing and servicing their respective funds.

William Donaldson, the Securities and Exchange chairman, endorsed recommendations to allow shareholders a greater say in the governance of corporate boards.

State Street Research & Management Company recently announced that Ajay Mehra will join the firm as head of equity research in early August. He will report to C. Kim Goodwin, chief investment officer - equities.

State Street Tuesday announced a second-quarter loss of $23 million due to a $196 million restructuring charge it took to cover the voluntary buyout of 3,100 employees, Reuters reports. This amounted to a loss of 7 cents a diluted share. A year ago, State Street earned $178 million, or 54 cents a share. The firm’s earnings were down 46% in the first quarter.

The Depository Trust & Clearing Corp. (DTTC) and the Canadian Depository for Securities (CDS) announced Tuesday that they will look into sharing technologies beyond their 20-year-old cross-border clearing ties.