Money Management Executive Latest News

Merrill Lynch said today that it has made a college and estate planning investment service available to the corporate marketplace.

Fund researcher Morningstar announced today that it will change its rating system for mutual funds this summer. The Morningstar rating, commonly known as the "star rating," will be altered to include a broader number of categories, the company said.

Will Help Investors Adjust Gains, Minimize Taxes

Are mutual fund firms that develop managed account products competing with themselves? Yes and no, according to industry executives.

Hartford Life of Hartford, Conn., is expanding its 401(k) small-business operations, a niche that has been largely ignored by many other retirement savings plan providers. So far, the strategy has worked for Hartford Life. It expanded its 401(k) business by 55% in 2001, with sales of $850 million.

Merrill Lynch launched a diversified private account product last week. Called Consults Diversified Portfolio, it adds to the five specialized private account products that Merrill has offered investors through its private account service, Consults.

Fund PR and marketing executives intent on getting portfolio managers and analysts placed on key financial TV shows reacted with relief last week to the news that Louis Rukeyser, who was fired from his public television show, would return to CNBC with a new program.

Tax-efficient mutual fund portfolios have become a hot topic, especially since 2000, when many investors suffered the paradox of tax hits from plunging funds. Even so, tax-managed funds have not grown in either number or assets. So the question remains: what value does tax-management really deliver to investors?

Tocqueville Asset Management of New York has a voracious appetite. As part of an effort to grow its $2.2 billion in assets to $3 billion over the next six months, the firm has been actively acquiring mutual funds.

IDEX Mutual Funds has launched the IDEX Protected Principal Stock Fund.