Money Management Executive Latest News

Nuveen Investments plans to launch a closed-end exchange-traded fund that will specialize in taxable preferred stocks. A public offering for the fund is expected next month.

Only 5% of money managers are bearish on the economy, according to a survey of 64 leading investment management firms by Consulting Group, the managed money unit of Salomon Smith Barney.

Morgan Stanley by the end of the year will begin rating 30 index-linked exchange-traded funds out of a total of 119 such funds. The tracked batch will include 25 U.S. equity index funds and five international indexes. The domestic funds will include eight broad market funds; 10 sector funds; six style, growth and value funds; and one industry fund.

Citizens Advisers, the investment advisor to the socially responsible Citizens Funds, has changed the design and content of its quarterly shareholder reports.

What does it take to find a financial advisor well versed in 529 plans and other college savings vehicles?

Transamerica Retirement Services, a Los Angeles-based retirement services provider that specializes in small to mid-sized companies, has found that smaller companies are moving faster than anticipated to help their employees take advantage of increased retirement plan contribution limits set forth in the Economic Growth and Tax Relief Reconciliation Act of 2001.

Matrix Bancorp has hired Ralph Peluso as VP of strategic alliances for a joint venture it has formed with OPTECH Systems. The venture, Matrix Settlement & Clearance Services (MSCS), provides automated clearing for mutual funds and other investment companies.

Susan Nugent, VP of relationship management for the Eclipse and Mainstay funds of New York Life Investment Management, has left the firm.

Spectrem Group, a Chicago consulting firm, has hired Douglas Smith as a director of sales. In this position, Smith will oversee sales and delivery of services for retirement and wealth management enterprises.

Prudential Financial has hired James King, Jr. as VP of investment services in the firm's retirement services unit.