Money Management Executive Latest News

Mutual fund distribution platforms are booming in Germany, accounting for 18% of net new inflows into funds in that country last year, fund researcher Cerulli Associates reported in a recent study.

Rydex Global Advisors., the investment advisor to the 33 Rydex funds, has named Michael Carpenter national sales manager for the broker/dealer channel. His hire is part of Rydex's recent initiative to expand support for and win additional broker/dealer clients, according to the firm. Carpenter will report to Louis Foran, Rydex's executive vice president of sales and marketing.

In an effort to boost nationwide sales, Weiss, Peck & Greer (WPG) has hired four national sales executives, the firm announced last week. WPG manages $20 billion in assets, $881 million of which are in seven proprietary mutual funds and $3 billion of which are in sub-advised funds.

Patrick Welch will resign from his position as chairman, president and CEO of the National Life Group, a cluster of financial services and insurance companies that includes the Sentinel Family of Mutual Funds. Welch is leaving the company to become president of CIGNA HealthCare.

Mark Beeson is chief financial officer of Banc One Investment Management Group and CEO of the One Group Mutual Funds of Columbus, Ohio. In this role, Beeson is responsible for sales and support of the proprietary fund group and annuities. This includes marketing, wholesaling, training, operations and administration.

Evergreen Investments of Boston, the asset management arm of Wachovia Corp., have redesigned its Web site in an effort to simplify its navigation as well as to integrate the firm’s new brand message, "Investments that stand the test of time."

The Hartford Mutual Funds announced that it has reopened the Hartford MidCap Fund to new investors. The fund, which currently has slightly more than $1.323 billion, according to Morningstar of Chicago, will be available to new investors until August 31, 2002 or until it achieves net news sales of $300 million, whichever comes first.

Cooke & Bieler is making a push to sell its equity portfolios to public funds. The investment advisor announced today that it has hired Thad Fletcher to lead that marketing effort.

T. Rowe Price has included a college investment calculator on its Web site to help families figure out how much they will need to invest in a 529 plan. The calculator examines the probability of various portfolios in 500 scenarios.

Morningstar announced today that it is now including daily data and analysis on exchange-traded funds (ETFs) in Morningstar Advisor Workstation, an online product at the MorningstarAdvisor.com Web site for investment professionals. The Web site offers reports on more than 40,000 stocks, mutual funds, ETFs, closed-end funds and variable annuity sub-accounts.