Money Management Executive Latest News

NEW YORK - A mutual fund company looking to break into the managed account arena might expect to be able to use the firm's existing sales staff to push the new products. But fund executives report that relying solely on the average mutual fund wholesaling team is not the right strategy.

Nearly one year after setting out to build a new asset management business, fund researcher Morningstar has weathered dismal markets and a short spate of criticism over potential conflicts of interest.

In less than a year, UPromise of Brookline, Mass., a rebate program for 529 college savings, has attracted more than one million members.

AIM Distributors, the distribution arm of AIM Funds of Houston, is wrapping up a three-year ad campaign that capitalized on the discipline and ambition of a bevy of young, celebrity athletes.

Milwaukee-based The Catholic Funds group is undergoing a spiritual conversion of sorts. The complex is changing its investment style, altering its screening for Catholic values, and hoping to attract new institutional investors, including Catholic universities with sizable endowments.

Your 401(k) statement shows a dramatic drop. You wonder if bonds are a good idea. You're worried about saving for college. Where do you turn for help? According to a recent survey, many people turn to their fund companies.

More than half of American families who plan to send their children to college have not started saving and 75% have not heard of 529 college savings programs, according to a national survey conducted by Morgan Stanley of New York. Morgan Stanley manages College SAVE, a 529 plan offered by the state of North Dakota.

Only 5% of taxpayers who expect to receive a refund this year plan on investing some of the money in mutual funds, stocks or bonds, according to a survey of 1,683 taxpayers by Cambridge Consumer Counseling Corp., a company that offers credit counseling to consumers.

Strong Capital Management, investment advisor to the Strong Funds, has redesigned its Web site.

Brinker Capital, an independent investment consulting firm that provides mutual fund and managed account services, has launched a separately managed account program for financial advisers and their clients. Brinker maintains that the program, Brinker Capital Managed Portfolios, offers managed accounts "with the administrative ease only once available with mutual funds."