Money Management Executive Latest News

Executive search firm Spencer Stuart has hired financial services recruiter Rick Lannamann away from Russell Reynolds, the company announced. Lannamann was formerly the managing director and co-head of the Russell Reynolds financial services business.

Investors socked a net $3 billion into equity funds in January, making the month the poorest for January mutual fund flows in more than a decade, according to data released by Lipper.

Advertising for individual equity funds was down 35% for 2001, according to data released this month by Competitrack, an advertising research firm.

Past performance is no guarantee of future results, but it can be very helpful in guessing. According to a new report by Financial Research Corp., there are very accurate predictions that can be gleaned based on several facets of past performance. The recently released report is called "Predicting Mutual Fund Performance 2: After the Bear."

MFMarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week, here are some Web exclusives you missed:

Wells Fargo Management has acquired SIFE, the administrator and distributor of a fund that invests in the financial services sector.

Investors are becoming less leery of privacy and security concerns when they invest via the Internet, according to a study released today by American Century.

Luxembourg-based UNICO Asset Management has selected State Street to administer and manage its new series of index funds geared toward European institutional investors, State Street announced today. The funds are scheduled to launch on March 1.

Forward Management said today that it will lower the minimum investments on its four products from $2,500 to $100.

Aim Investment Management’s decision to fold its bank wholesaler division into its brokerage sales force has nearly ended the era of dedicated bank wholesalers in the mutual fund industry, but industry officials say that dedicated bank salespeople remain important to insurance companies.