Money Management Executive Latest News

At 8:15 a.m. on Sept.11, Dan Sondhelm and Bob Tebeleff, two public relations executives from Norfolk, Va., checked out of the Marriott World Trade Center with the usual business in mind. They would host two press events in New York City that day, one in the financial district, one in midtown. Both events would promote smaller fund companies as well as a back-office firm called Quasar.

In an effort to gain access to the education savings market, investment management companies are increasingly looking to partner with existing state-sponsored "529" college savings plans (See MFMN, 9/3/01). But standards don't yet exist for 529 partnerships, so the nature of the arrangements among these companies is different with each one.

Stock baskets, or groupings of stocks picked by individual investors, have been long derided as competitors to the mutual fund industry. Jim O'Shaughnessy, who headed the now-defunct Netfolio, is rethinking that idea.

Please take a minute (two minutes tops,

For years, people have gathered in quiet, suburban living rooms to pick stocks and discuss matters impacting markets. They are known as investment clubs, and the communities of investors sometimes manage sound returns based on the notion that many heads are better than one.

The Securities and Exchange Commission's caseload was decimated by the terrorist attack on the World Trader Center, the home of its New York offices.

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:

Dave Hyun, who began his career with Fred Alger Asset Management, is leaving OppenheimerFunds to rejoin his old firm as manager of three funds and its separately managed accounts.

INVESCO Funds Group announced that it has promoted Tom Kolbe to national sales manager, replacing Ray Cunningham who was named president and COO of the firm in May.

Roulston & Co. Investment Management and The Hickory Group, two investment advisors based in Cleveland, will merge, the companies announced last week. Roulston & Company Investment Management is the advisor to the Roulston family of mutual funds.