Money Management Executive Latest News

ProFunds has filed six new funds with the Securities and Exchange Commission to round out its lineup of 39 funds. The new funds include the Asia, Ultra Government Bond, Ultra Inverse Government Bond, Short OTC, Short Small-Cap and Ultra Blue Chip funds, according to the regulatory filing.

Global fund assets have not grown over the past year, but that does not necessarily signal flat growth across all market segments, according to a new report by Cerulli Associates.

U.S. Rep. John Boehner (R-Ohio), who has been a key player in driving reforms to 401(k) rules in the aftermath of Enron’s financial collapse, is applauding a move to replace the executives who oversee that company’s retirement plan.

GoldK, an online retirement plan provider based in Waltham, Mass., has hired John Bosley to head the firm’s bank channel distribution. Bosley, named a VP and managing diector, will be responsible for developing sales strategies and banking and trust company relationships in the U.S. and abroad, the company said.

Principal Capital has created a new position to bring together the firm’s global fixed-income capabilities. Gloria Reeg has been named president of Principal Capital Income Investors, which is based in the U.S., and will oversee the firm’s international affiliates, including the fixed income unit of Australia-based BT Funds Management.

CIGNA Retirement & Investment Services has hired two investment management veterans to take over for executives leaving the firm. John Kim will become president of the CIGNA division, and Farhan Sharaff will become president and CIO of TimesSquare Capital Management, a division of CIGNA Retirement that operates institutional investment products.

The board of directors for a Scudder Investments international fund voted this week to shut down the product, according to a regulatory filing with the Securities and Exchange Commission.

Washington Mutual announced today that it has expanded its executive team with the creation of a new risk management position. William Longbrake, the firm’s CFO, will become vice chair of enterprise risk management.

Earlier this month, the U.S. Court of Appeals for the District of Columbia Circuit upheld an SEC decision about a multi-manager fund exemption. Last March, Fund Democracy, a shareholder advocacy group, petitioned the Securities and Exchange Commission for a hearing in an attempt to prevent Hillview Capital Advisors from receiving an exemption from the Investment Company Act of 1940 to use multiple advisors with its funds.

American Skandia may get some free press during the 2002 Olympics because of its sponsorship of the U.S. women’s bobsled team. The firm was the team’s first corporate sponsor beginning in 1995.