Money Management Executive Latest News

NEW YORK - The growth of the SMA marketplace hasn't only caused financial intermediaries and investors to adapt to a new managed account model. Investment management firms are finding they have to carve out their own path to SMA success.

Financial Research Corp. (FRC) has contracted with Ibbotson Associates to have Ibbotson analyze its advanced research reports for mutual fund wholesalers and provide five sales ideas for each one. Fund companies can customize each report with their own name and logo.

Payden & Rygel has selected UMB Investment Services Group as its transfer agent. Beginning in September, UMB will serve the investment advisor’s two mutual fund families, Paydenfunds and Metzler/Paydenfunds, which have $2.5 billion in assets. UMB will process applications, maintain records, mail shareholder statements and report investor tax information.

The bonuses that Vanguard pays its 10,000 employees each June based on "partnership units" has fallen 5% from $61.50 to $58.40, The Philadelphia Inquirer reports.

The dominant players in the rapidly growing hedge fund industry will be on opposite ends of the industry’s spectrum, Donald H. Putnam, chief executive of Putnam Lovell NBF Securities, said at the ninth Global Alternative Asset Management Forum in Geneva, Switzerland. On the one hand, large, sophisticated firms with access to capital, and on the other, small, focused, talent-driven boutiques will dominate the space, Putnam said.

INVESCO announced it would close its struggling Singapore mutual funds in an effort to sell its international funds directly to local investors, Reuters reports.

Kauser Management has launched the Technical Chart Fund, a market-neutral mutual fund that will attempt to achieve long-term capital appreciation in both bull and bear markets by holding both long and short positions of stocks with a wide range of market capitalization. The fund is a no-load mutual fund with a minimum investment requirement of $5,000.

The bonuses that Vanguard pays its 10,000 employees each June based on "partnership units" has fallen 5% from $61.50 to $58.40, The Philadelphia Inquirer reports.

Money market mutual fund companies and their investors can expect even lower yields than they are suffering now if the Federal Reserve cuts interest rates again, Reuters reports.

A new survey has indicated that more younger Americans have given up investing due to losses incurred in the stock market, Reuters reports.