Money Management Executive Latest News

In a move designed to bolster home sales and lending businesses, GE Mortgage Insurance announced today that it will partner with a mutual fund company to offer loans with low down payments to home buyers.

With designs on capturing a greater percentage of back office service market, Mellon Financial announced today that it will acquire software provider Eagle Investment Systems of West Hartford, Conn., for an undisclosed sum.

The Vanguard Group and College Savings Iowa have altered operations of the 529 college savings plan they offer together, the companies announced today.

Fidelity Investments will layoff in the vicinity of 3,000 employees sometime this month, according to a source close to the company who wished to remain anonymous.

ProFunds of Bethesda, Md. launched six index funds today, bringing its total index-based mutual offerings to 39, the company announced. ProFunds offers the largest number of index funds of any U.S. mutual fund company, according to Michael Sapir, CEO of ProFunds Advisors.

One of the first items on Michael Lane's agenda is negotiating a peace treaty between TIAA-CREF and the financial planners they've been feuding with for years.

Lipper will begin providing after-tax performance data on the nearly 14,000 mutual funds it tracks starting next month, the company announced today.

Stilwell Financial, parent company of fund giant Janus, announced today that its total assets under management continue to slip as the market downturn persists.

London-based Old Mutual, PLC has named Edmond Warner CEO of Old Mutual Financial Services, in charge of OMFS’ U.K. businesses, the company announced today. The group’s U.K. businesses employ a total staff of 2,500 and have over $28 billion in assets under management.

Federated Investors of Pittsburgh filed a registration statement with the SEC Sept. 18 to launch its first ever closed-end fund, the Federated International Small Company Opportunity Fund.