Money Management Executive Latest News

Fidelity Investments, in an FMR Corp. annual report, announced a 40% drop in profits in 2001. Still, the net profits of $1.32 billion represent the second highest for a year in the company’s history (2000 was the highest), making the implications of the dramatic drop deceptive.

Phoenix Investment Partners announced today a partnership with LJH Global Investments, a Naples, Fla.-based hedge fund advisor. The firms are planning to create a registered fund of hedge funds product for individual investors.

AIM Funds Management of Toronto will propose changes to its Canadian fund lineup to maximize efficiencies with the Trimark series of funds, which AIM acquired in 2000, the company announced.

ING U.S. Financial Services wants to make its newly consolidated mutual fund family a household name - and boost its sales by more than 25% this year.

American Express Financial Advisors has added two telephone service lines, one for the general public and one for American Express Retirement Services 401(k) plan participants, which will provide support for individuals who are changing jobs or retiring, the firm announced today.

Following a trend in the small-cap fund sector, AIM Advisors, Inc. a subsidiary of AIM Management Group, announced today that it will close its small-cap growth fund March 18. The fund had approximately $1.1 billion in assets under management as of March 4.

GoldK, a Waltham, Mass. online retirement plan provider, has been selected by CBS Payroll to provide its services to that company’s clients, the firms said today.

Morningstar's plan to rate managed accounts much the way it ranks mutual funds has drawn concern from an industry lobby group.

But Strategy Hinges on Large Volumes of Investors, Observers Say

When the Quintara Funds of Piedmont, Calif., officially launches its flagship Quintara Small Cap Value Fund on March 1, the fund will be lacking one of the well-known and highly regarded small-cap managers it had selected to help sub-advise the fund.