Money Management Executive Latest News

Credit Suisse Asset Management (CSAM) has installed a management team to oversee the firm's tax-advantaged fixed income products, the firm announced last week. Lori Cohane has joined CSAM as managing director of those products for high-net-worth investors.

An article in the May 20 issue, "Advertising Spending Declines 70% in Q1," attributed Competitrack as the source for T. Rowe Price's advertising spending in the first quarter. T. Rowe Price was the source for the figure.

While some retirement consultants have begun suggesting guaranteed retirement returns in light of the Enron bankruptcy, that would not be a good idea, according to the Employee Benefit Research Institute.

Fund researcher Morningstar has partnered with an information portal for financial advisers in a deal that will make its services more widely available, the company said this week.

The average American is not saving enough, devotes little time to managing his or her retirement investments and lacks the knowledge to invest properly, a survey by John Hancock Financial Services indicates. Hancock based its findings on a national survey of 801 defined contribution plan investors.

Standard & Poors is now tracking the policy features and performance of 700 variable annuities and the 9,000 sub-accounts included in them. S&P is including the information in its Advisor Insight product for financial advisers and brokers. Heretofore, the product only included information on mutual funds, stocks and real-time market news.

Keith Karlawish has been promoted to president of BB&T Asset Management, a registered investment advisory firm in Raleigh, N.C., the company announced today. With more than $17 billion in assets under management, BB&T Asset Management, a subsidiary of BB&T Corp., serves as investment advisor to the BB&T Funds, a family of 30 mutual funds and annuities.

The Securities and Exchange Commission may soon change fund performance advertising rules to ensure that investors are better informed about the most recent performance data available.

European asset management firms will soon be able to market a greater variety of mutual funds throughout the European Union. While they currently can sell only equity and bond mutual funds across the EU, by the middle of 2003 they will also be able to sell money market funds, fund-of-funds, index tracker funds and funds that use derivatives.

More than a decade ago, Fidelity Investments of Boston formed Institutional Retirement Services Co. to target the small-business 401(k) market. Today, with the retirement plan market tighter than ever, fund firms have begun to pursue the ultimate small business: individual 401(k)s.