Money Management Executive Latest News

As part of a broad government investigation into the terrorist acts of Sept. 11, the Securities and Exchange Commission has asked that all securities-related entities -- regardless of whether they are registered with the SEC -- voluntarily check their records for any relationships or transactions with the individuals and organizations named in a presidential order or suspect list provided by the Federal Bureau of Investigation.

Stockholm-based Skandia said today that its sales for September were noticeably affected by the terrorist attacks of Sept. 11, falling 1.3 billion kronors (about $123 million) between August and September.

Executive search and marketing firm Diversified Management Resources has hired Raymond O'brien as director of business development, the company announced this week.

Fidelity Investments Institutional Services launched its 403(b) retirement program that offers 47 different mutual funds designed specifically for public-school employees.

Celent Communications, a Boston-based research and consulting firm specializing in technology and financial services, released a report today predicting the 401(k) industry will be able to retain more assets after rollovers and develop longstanding relationships with investors that lead to cross-selling opportunities.

AIM Management Group of Houston has won distribution for nine of its funds through Hartford Life’s variable annuity products, the companies announced today.

Merrill Lynch Investment Managers today announced the launch of the Corporate High Yield Fund IV, a diversified, closed-end junk bond fund.

The board of trustees of the Titan Financial Services Fund has recommended that the fund be merged into Turner Investment Partners’ Turner Future Financial Services Fund, according to a document filed today with the Securities and Exchange Commission.

GE Financial Assurance announced today that it will acquire Centurion Capital Group, a private asset management company in Sherman Oaks, Calif. Centurion, which specializes in separate account wrap programs, has $1.9 billion in assets under management.

Dresdner RCM Global Investors is planning to hand over its 13 mutual funds to PIMCO Funds, according documents filed today by Dresdner with the Securities and Exchange Commission.