Money Management Executive Latest News

Putnam Lovell Equity Partners, a private equity fund managed by Putnam Lovell NBF Private Equity, has agreed to buy Mizuho Corporate Bank’s interest in Atlantic Asset Management.

Fidelity Investments has launched several new services for advisers: a separate accounts screening program, custody and recordkeeping for alternative investments and charitable management for private foundations.

Hedge funds are the latest investment vehicle to be put through the ringer as the Securities and Exchange Commission mulls more stringent regulation.

Investors have been running for cover, and with 1,038 additional fixed-income and 308 new money market funds to hit the market since the beginning of the bear market, fund companies have been keeping pace, hoping to provide shelter from the storm.

PALM DESERT, Calif. - The Securities and Exchange Commission will certainly have its hands full for the next 12 months, as a spate of issues within the mutual fund industry have landed in its crosshairs. Despite a robust agenda, the SEC told fund executives at the Mutual Fund Investment and Management Conference two weeks ago that it will "marshal all of the resources [it] can" so that each item is carefully examined and dealt with in a timely fashion.

Mutual fund giant Fidelity announced last week that it plans to acquire Correspondent Services Corp., the clearing unit of UBS PaineWebber. The deal will make Fidelity the eighth-largest clearing firm in the U.S.

Pay and performance don't necessarily go hand in hand for fund directors, who were rewarded an average 8% pay increase at the biggest fund complexes last year, according to findings by a recent Management Practice study.

PALM BEACH, Fla. - Fidelity has revamped Streetscape, its Web broker/dealer technology, to make it easier to serve high-net-worth clients.

PFPC of Wilmington, Del., licensing a platform from SunGard of Wayne, Pa., has beefed up its accounting and reporting capabilities to serve retail hedge funds.

There has been some talk of a whopping $5 trillion sitting on the sidelines, but little if any of it is actually in a position to be the white knight the market may have been hoping would save the day and lead the way back to bullish times.