Money Management Executive Latest News

PFPC is now using SunGard Investment Management Systems’s InvestTier to add Web-based functionality to its hedge fund administrative services.

PALM BEACH, Fla. - Fidelity Investments Inc. has made its investment advisory, brokerage clearing services and capital markets units stand-alone businesses

NEW YORK – "Remorse and disgrace" rather than "hubris" is what is driving the investment management M&A business, Donald Putnam, managing director of Putnam Lovell NBF Securities, said yesterday.

The mutual fund industry has done a good job of lobbying against a self-regulatory organization (SRO) and hasn’t done anything wrong enough to incite the Securities and Exchange Commission to form one, Reuters reports.

NEW YORK – Separately managed accounts are expected to grow to 12.5 million accounts, ballooning up to $2.1 trillion in assets by 2011, said T. Neil Bathon, president of Financial Research Corp., speaking at the 2003 annual meeting of The Money Management Institute last Monday.

Strong Capital was the first-place winner in Pyxis Consulting’s 2003 529 Web Site Survey for its Web sites for Nevada, Oregon and Wisconsin. Pyxis expanded its ranking criteria this year to identify sites that help companies reduce costs, increase contribution dollars and help investors develop realistic savings goals.

PALM DESERT, Calif. – Sounding the familiar cry that the fund industry has done a good job or persevering through a "grinding bear market" and "egregious corporate scandals," Matthew Fink, president of the Investment Company Institute, also said that enough regulation is enough.

An amended lawsuit against a UBS Paine Webber / Mark Advisors hedge fund brings to light a challenge faced by the growing number of fund companies also offering SEC-registered hedge funds.

While hedge funds are not registered with or required by the Securities and Exchange Commission to reveal their holdings, a populist uprising among investors is forcing hedge fund managers to reveal more information about their holdings, The Wall Street Journal reports.

The Securities and Exchange Commission is investigating whether Morgan Stanley brokers have been recommending inappropriate mutual fund share classes for purchase by their clients, The Wall Street Journal reports. Mutual Fund Market News earlier reported on a class action lawsuit against Morgan Stanley concerning B shares.