Money Management Executive Latest News

Northwestern Mutual has created Mason Street Advisors, LLC, a wholly owned subsidiary that is intended to boost the company’s image in the investment management arena. Mark Doll, senior VP of the public markets division at Northwestern Mutual, has assumed the post of president of Mason Street Advisors.

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

AIM Private Asset Management, the separately managed account subsidiary of AIM Management Group, has won distribution through Pershing, a managed accounts services firm.

The Vanguard Group has expanded its annuity offerings to include a new product designed for tax-sensitive investors who want to supplement their portfolios with a low-risk vehicle, the company announced today.

The National Investment Company Service Association made a donation to the FT Fiduciary Trust Memorial Fund yesterday, on behalf of the organization’s members.

If foreign firms want to penetrate Japan’s fund management industry, their best bet is through defined benefit and sub-advisory channels, according to a report issued today by Cerulli Associates.

The asset management unit of FleetBoston Financial has hired Cornelia Kiley to head a new national sales team that will market investment products to investors with more than $200 million in investable assets, the company said today.

Expecting the economy, and markets, to rebound this year, some banks’ investment strategists and mutual fund executives are creating products, hiring, and forming new units that emphasize the growth-oriented investing style.

When it comes to opening mutual fund supermarkets in Europe, fund complexes have it decidedly rough.

With the recent issuance of Internal Revenue Service and U.S. Treasury Department guidance on capitalization, a drawn out conflict with the fund industry over the tax treatment of fund start-up costs appears to be drawing to a close. The Investment Company Institute has not issued an official comment on the issue, but it has indicated that the new rules do not go far enough in terms of the costs that can be expensed.