- Money Management Executive
Dan Hesser, former chief executive officer of Invesco Funds, passed away from injuries incurred in a horseback riding accident at the start of the year. Hesser, 63, joined the firm in the early sixties and retired in 1998, after which, he devoted his time to his passion for the outdoors at his ranch in eastern Colorado.
February 10 - Money Management Executive
A new system for registered investment advisers could be in the works, and many financial planners are not happy about it.
February 4 - Money Management Executive
Janus Capital Group Inc. said that its quarterly net income fell 46% because of declining assets under management and revenues.
February 4 - Money Management Executive
Alliance Capital Management Holding said a 14% decline in assets under management led to a 22% decline in operating profit in the fourth quarter.
February 4 - Money Management Executive
Charles Schwab & Co. will be raising its fees for mutual funds on both OneSource and the load fee platforms. The current cost to funds from the no-load platform is 35 basis points, which is likely to increase to 40 basis points.
February 4 - Money Management Executive
Charles Schwab & Co. has asked the Depository Trust and Clearing Co. (DTCC) to add the capacity to automatically process short-term mutual fund redemption fees to Fund/SERV. "We received a concept paper from Charles Schwab, and the next step is to discuss it with the ICI broker/dealer advisory committee," said Karen Gregory, spokeswoman for DTCC.
February 4 - Money Management Executive
Charles Schwab & Co. has asked the Depository Trust and Clearing Co. (DTCC) to add the capacity to automatically process short-term mutual fund redemption fees to Fund/SERV. "We received a concept paper from Charles Schwab, and the next step is to discuss it with the ICI broker/dealer advisory committee," said Karen Gregory, spokeswoman for DTCC.
February 4 - Money Management Executive
Saying that the Securities and Exchange Commission "simply cant afford to wait for other storms to break," the commissions voted unanimously today to ask the fund industry to install formal self-regulation procedures in place. The most notable of these is the creation of a self-regulatory agency along the lines of the National Association of Securities Dealers for the brokerage industry.
February 4 - Money Management Executive
Merrill's Doll Tells Funds High Turnover Way to Go
February 3 - Money Management Executive
NEW YORK - Mutual fund companies better start re-evaluating their plans for the next few years or they could be in for a rude awakening, as they are expected to lose wealthier investors' cash and gain more from the retail investor, according to a recent report by Boston-based Financial Research Corp. (FRC).
February 3