Money Management Executive Latest News

New York research firm Strategic Insight reported today that equity and balanced fund flows in March resulted in the second-best month ever for mutual funds.

The Hartford Mutual Funds has added seven new funds to its offerings, the last step in integrating the funds of the former Fortis Financial Services. The Hartford bought the company roughly a year ago.

Two top executives at Kinetics Asset Management, which oversees the Kinetics Funds group, have left the firm to start a new investment advisory firm that will offer alternative investments.

An Austrian hedge fund firm that has had success at home in amassing assets while requiring as little as an $1,800 investment says it plans to offer U.S. investors a hedge fund within two months that would require putting up just $5,000.

Stockback Capital, a New York-based company that, with JP Morgan Chase, offers a co-branded credit card with a cash rewards program that allows consumers to automatically reinvest, has finally settled on the fund. Users of the Stockback MasterCard from Chase will now have the option of investing their cash-back reward in the Merrill Lynch S&P 500 Index Fund.

Mellon Financial Corp. of Pittsburgh announced today a decrease in quarterly net profit despite an increase in assets under management.

IDEX Mutual Funds of Denver has launched the IDEX Protected Principal Stock Fund, the company announced today.

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

ProManage, an investment firm that specializes in defined contribution plans, has developed an automated investment allocation product for plan sponsors, with whom ProManage will share the fiduciary responsibility for making the allocations.

The National Investment Company Service Assoc. expects interest in its online Mutual Fund Industry Specialist (MFIS) Certificate Program will shortly extend beyond fund executives to financial planners and brokers.