Money Management Executive Latest News

TIAA-CREF has temporarily suspended sales of its after-tax deferred annuities, Teachers Personal Annuity and Personal Annuity Select.

Economic confidence among African-American CEOs was down in the first quarter of 2003, from 44 out of 100 in the previous quarter to 37.9, according to the Gazelle Index from ING U.S. Financial Services.

WASHINGTON – Maintaining more realistic expectations about mutual fund returns will be a critical step toward rejuvenating investor confidence.

Credit Suisse fund managers are watching the decline of the dollar with a careful eye, Reuters reports.

Fidelity’s fees for its flagship Magellan fund have fallen significantly due to the bear market, Reuters reports, citing information from the fund’s annual report..

TRUSTlynx, a service of First Trust Corp., has debuted a Web site and voice response unit program that plan sponsors and other financial institutions can use to capture IRA rollovers. TRUSTlynx is allowing companies to either private label or co-brand the program.

AllianceBernstein Investment Research announced Tuesday that its 529 college savings plan, sponsored by the state of Rhode Island, has topped $3 billion in assets.

The $6.3 trillion dollar fund industry has come under increased scrutiny after a steady three years of stock market declines and corporate scandals such as WorldCom, Enron and Global Crossing have rattled investor confidence to levels not previously seen, Reuters reports.

MetLife Retirement & Savings, an administrator of defined benefit and defined contribution programs, has selected ADP Investor Communication Services to provide 401(k) print services for its small- and mid-sized clients.

Raymond James Financial Services is going to enroll its 5,200 financial advisers in the industry-owned AdvisorCentral, the two companies announced Tuesday. At present, 100 of Raymond James’ back-office personnel are registered with the service, which they use to research clients’ accounts. Launched in November 2001, AdvisorCentral aggregates information from 40 funds.