Money Management Executive Latest News

Underscoring its intentions to continue expanding globally, Lipper said today that Michael Peace, managing director of the fund researcher's Asia operations, will oversee the firm's multinational operations as its new CEO.

By adding extra services, besides solid investment products, mutual fund companies that have wholesale distribution arms are trying desperately to attract more assets through the independent adviser market. The strategy seems to be working -- sort of.

kasina, an e-business consultant for financial services companies, announced today its selections of the top 10 institutional asset management Web sites. The results are based on evaluations of the 40 top managers of global institutional assets and 10 additional firms, which were nominated through kasina’s Web site.

Villanova Capital, the U.S. asset management unit of Nationwide Financial Services, and Gartmore Investment Management have named Young Chin CIO of the U.S. arm of their global investment platform.

While Monday’s market reopening and subsequent plunge does not appear to have prompted a flurry of redemption activity from fund shareholders, it apparently made many 401(k) participants nervous enough to transfer a significant amount of their assets.

Continuing its strategy of growth through acquisition, Federated Investors announced today that it is acquiring $164 million in assets held in three funds offered by Lincoln Investment Planning, a broker/dealer headquartered in Wyncote, Pa., and advised by Rightime Econometrics of Rydal, Pa.

According to a recent poll, 17% of Americans are not aware that banks sell mutual funds. Maritz Research Financial Services, who conducted the poll, surveyed 1,005 randomly selected adults from around the U.S.

The broker/dealer distribution channel has become increasingly competitive among mutual fund firms, driving the need and importance for fund wholesalers, according to a new report published by Cerulli Associates of Boston.

A lot more Americans would put more money into Section 529 plans if they understood their benefits, according to a new survey by Alliance Capital.

Independent Financial Marketing Group, Liberty Financial’s bank distribution-arm, has hired Patrick Connelly as its senior VP of new business development.