Money Management Executive Latest News

The $1.1 billion Bricklayers & Trowel Trades International Pension Fund recently expanded its 401(k) plan offerings and hired an investment manager, but it is unclear how many union members will take the bait, said Peter Straub, deputy administrator.

Investors pulled more money out of equity funds in September than ever before, Lipper reported today. Equity funds experienced a net outflow of $32 billion in September. The previous high was $21 billion in March of this year.

Investors pulled more money out of equity funds in September than ever before, Lipper reported today. Equity funds experienced a net outflow of $32 billion in September. The previous high was $21 billion in March of this year.

London-based Old Mutual will combine its asset management operations with Gerrard Investment Funds, the company announced today. John Ainsworth, CEO of Old Mutual Asset Managers, will oversee the newly merged operations.

Charles Schwab Corp. is planning to offer hedge funds next year, Reuters reported. The products will be tailored to less affluent clients than are normally invested in mutual funds, according to the report.

Quant Funds will close and liquidate the Quant International Equity Fund, the company announced this week.

Pacific LifeCorp, parent company of Pacific Life Insurance Co., will buy College Savings Bank of Princeton, N.J. The purchase will enable Pacific Life to offer section 529 college savings plans.

Old Mutual to Merge Asset Management Operations With Gerrard:Firm Hopes to Unify Platform

Delaware Investments, a subsidiary of the Lincoln Financial Group, has added a Quant pro to its ranks. The Philadelphia-based firm named David Starer to the post of senior quantitative analyst in charge of improving its quantitative investment models and management techniques.

Merrill Lynch announced this month that Edward Goldberg, an executive VP who led the firm’s efforts to restore business operations after the terrorist attacks of Sept. 11 and fostered preparations for implementing T+3 standards, decimalization and the introduction of the Euro, will retire at the end of this year.