- Money Management Executive
Surrendering to a wider industry trend, INVESCO, one of the U.S. mutual fund arms of financial giant AMVESCAP, announced last week that it will discontinue selling its products directly to investors and begin selling primarily through brokers and financial advisers.
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Merrill Lynch Canada's decision to sell its $2.8 billion in Canadian mutual fund assets to competitor Canadian Imperial Bank of Commerce may have been based on research that shows the wealth market in Canada is shrinking.
December 3 - Money Management Executive
As the landscape of college savings plans changes, insurance carriers have begun to stake a stronger claim in the battle for 529 plan assets and some industry observers say insurance firms are better equipped to sell the products than traditional fund complexes.
December 3 - Money Management Executive
Similar to annuities, 529 plans' tax advantages for wealthy families has become one of their key features, much to the chagrin of the Washington politicians who initially backed their development, said Joseph Hurley, president of SavingforCollege.com.
December 3 - Money Management Executive
Net flows into mutual funds were positive in October, according to preliminary figures from Financial Research Corp. The overall positive flow of $13.3 billion was across all categories, in sharp contrast to outflows of $20.5 billion from all categories of funds in September.
December 3 - Money Management Executive
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:
December 3 - Money Management Executive
MFMN: In your estimation, what is the state of e-commerce in the fund industry today vs. what people three or even four years ago expected it to be?
December 3 - Money Management Executive
The following open-end funds were filed with the Securities and Exchange Commission in November:
December 3 - Money Management Executive
Neal Arnold has been named CFO of Fifth Third Bank Investment Advisors, the wealth management arm of Fifth Third Bancorp, the company said last week.
December 3 - Money Management Executive
AdvisorCentral, a company jointly run by Fidelity, Putnam, Franklin Templeton and PFPC, last week launched its fund Web portal service and named Joseph Grause CEO.
December 3