Money Management Executive Latest News

Credit Suisse Asset Management has announced that it will launch a new advertising campaign that includes print spots business and trade publications including Barron’s, Pensions & Investments and other publications.

It was up and down at the annual conference of the Money Management Institute, the Washington-based managed account organization. The conference highlight was the release of current and projected data for separately managed account assets. At the end of 2001, there were $415 million in managed accounts, and 2002 may see assets hit half a billion. Nor is this just the same high-net-worth individual pouring in more cash: The number of accounts in 2001 -- 1.68 million -- is also expected to rise this year to more than 2 million. And in a sign these vehicles are becoming more popular for modest clients, average account size, now at $247,000, is expected to decrease to $244,435.

The Nasdaq Stock Market announced today that the Japanese Financial Services Agency has selected the Nasdaq-100 Index as eligible for Japanese exchange-traded funds.

Turner Investment Partners has forged deals with Brinker Capital of Valley Forge, Penn. and Morgan Stanley of New York to oversee several managed account portfolios, the company said today.

The Bank of New York Co. has signed a definitive agreement to acquire Beacon Fiduciary Advisors, the company announced today. Beacon is a privately held asset management firm based in Chestnut Hill, Mass. The terms of the agreement were not disclosed.

Safeco Corp. has $3.8 billion under management in mutual funds, though almost none of these sales came through the bank channel, a situation the Seattle-based company hopes to change soon.

GE Financial has reforged the image of its newest acquisitions, Centurion Capital Management and Centurion Trust Company. The Sherman Oaks, Calif. firms are now respectively known as GE Private Asset Management (GE PAM) and GE Financial Trust Company.

Rydex Funds has launched a sector rotation fund into the teeth of a market still skeptical about sector funds after the carnage of the past two years.

ORLANDO - Be prepared to get to know your Securities and Exchange Commission compliance officers better. The SEC plans on making longer and, perhaps, more frequent compliance examinations.

Investors are more willing to retain their assets with banks because they have a stronger relationship with them than with other financial firms, according to industry analysts. While net flows into mutual funds dropped nearly 45% in 2001, net flows of funds sold by banks through outside distributors decreased only 14%, according to a study by Kenneth Kehrer Associates, a consulting firm in Princeton, N.J.