Money Management Executive Latest News

Declining returns and increasing volatility on the stock market are hammering down investment returns in defined contribution plans, exposing participants and sponsors to new risks and underscoring the need for greater participant education.

Multiple investors of the Van Wagoner Emerging Growth Fund have retained legal counsel to file a lawsuit against Van Wagoner Capital Management and the fund itself for using allegedly inflated net asset values for certain securities in the fund.

Boston Partners Asset Management will close its Small Cap Value II Fund to new investors on Friday, Dec. 28, the firm announced today.

Fidelity Investments Institutional Brokerage Group is trying to help its advisers outshine the competition when it comes to practice management.

Hancock Investment Services has opened Hancock Horizon Mutual Funds, originally a proprietary fund complex, to the public, the company announced today. The four funds currently hold approximately $340 million in assets.

Fidelity Investments’ Institutional Brokerage Group received the top rank for investor statements from Dalbar.

Goldman Sachs Group said today that its asset management business posted record net revenues of $1.47 billion for the year, an increase of 10% from 2000.

Brown & Co., an online brokerage owned by J.P. Morgan Chase, plans to buy the brokerage operations of fund family Dreyfus, Reuters reported this morning.

Credit Suisse Asset Management CEO Phillip M. Colebatch is will retire during the first quarter of next year, the company said.