Money Management Executive Latest News

TD Waterhouse will now distribute Nebraska’s 529 plan. The firm announced today that it has partnered with the State of Nebraska’s Treasurer’s Office and Union Bank & Trust Co., the plan’s program manger.

Berger LLC, the advisor to the Denver-based Berger Funds and a subsidiary of Stilwell Financial, announced today that it will acquire an institutional management firm from Prudential Financial and will change its name to Berger Financial to reflect its diversifed interests.

Alliance Capital is repackaging new technology designed to ease the 401(k) sales process by providing automated and customizable 401(k) sales and management tools. The new technology, which is provided by Emplanet, allows Alliance to provide its advisers with an easier way to sell its 401(k) products, said Jake Rie, VP of Alliance Fund Distributors.

Pictet International Management, a private bank in Switzerland, has launched the U.S. first ‘Water’ fund. The Pictet Global Water Fund, which will invest primarily in the water industry, is modeled after a similar fund that Pictet launched in Europe in 2000.

Investors’ continued interest in annuities helped lift bank brokers’ and licensed bankers’ sales production last fall, according to a report from the Bank Securities Association.

INVESCO Funds Group said today that a handful of its variable investment funds will be offered through a new variable annuity product from MONY Life Insurance Company.

Motivated in part by the firm’s push into the independent broker/dealer market, Rydex has added two positions to its marketing staff; the firm has hired Lou Foran as EVP, sales and marketing and Ramy Shaalan as market research analyst.

Although investors at Alliance Capital Management may have changed their taste in investment styles during the past year, the firm reported today that its assets under management changed little during that period.

The management team at C.S. McKee & Company have bought the firm from its parent company, London-based Old Mutual plc, executives said today.

IDEX Mutual Funds, a subsidiary of the AEGON Group, has replaced GE Asset Management as the sub-advisor to two of its funds, replacing it with American Century Investments, according to a company regulatory filing.