Money Management Executive Latest News

Banks sold $2.3 billion in long-term retail mutual funds in February, slightly off from January, but down significantly from the same month in 2002, according to the Kehrer-Invest Bank Mutual Fund Sales Survey.

The lagging stock market and consistently poor saving habits have done little to dampen Americans’ retirement confidence, the latest figures from the Employee Benefit Research Institute (EBRI) show.

Small-cap stocks could hit a rough patch when Vanguard readjusts its $4 billion Small Cap Index Fund in the coming months. Instead of the Russell 2000, mutual fund giant Vanguard will match its small-cap fund to Morgan Stanley's brand new MSCI U.S. Small-Cap 1750 Index (see MFMN 4/4/03).

Whether it is a downsized money management firm trying to gauge the best time to recruit, or an out-of-work securities analyst wondering where opportunities lie, deciphering the current difficult job market for clues as to when to hire or where to look for work can be confusing and frustrating. And many mutual fund and investment firms are taking advantage of the fact they are in the driver's seat, but this shortsightedness might come back to haunt them once the market turns around.

Despite extended periods of disappointing returns and the stigma of significantly higher expenses than their State-side counterparts, foreign equity and emerging market funds are not without hope when it comes to luring new investors. And one of the ways they are gaining favor is by steadfastly laboring to lower fees.

Van Kampen Investments has appointed Susan Crawshaw executive director, director of marketing and marketing services. Crawshaw will be responsible for supporting the firm's brand, as well as managing the shared marketing services group that performs fulfillment, procurement and Web services for the fund family.

Mathew W. Eischen has been hired by ALPS Mutual Funds Services as transfer agency manager to oversee the mutual fund operations group responsible for shareholder recordkeeping and transactions. The transfer agency department is responsible for the transfer agency function for 14 mutual funds among five different fund clients.

Bisys Fund Services has given James L. Fox the nod as its new president. Fox will oversee Bisys' U.S. and European outsourcing services business that supports mutual funds, variable annuities and separately managed accounts.

Pacific Life Insurance Co. announced a suite of promotions earlier this month, including those of Christina M. Sumpter, Donald M. Downing, Brendan L. Collins, Robert J. Hemstead, Reed J. Lloyd, Eddie D. Tung, Daniel S. Johnson and Peter S. Tseng.

MetWest Capital Management said Brian J. O'Sullivan has joined the firm as vice president and senior investment specialist to oversee its International Core Value product. He was most recently vice president with Nicholas-Applegate Capital Management in San Diego.