Money Management Executive Latest News

Northeast PWC Unit Gets New Manager:Perkins Has Been With Company for Nearly 20 Years

PFPC has opened a Boston office for AssetDirections, an Internet-based managed account platform for mutual fund wrap sponsors offered by the PFPC’s e-commerce group, the company announced today.

William Perkins has been tapped to head the Northeast Investments Management Group of PriceWaterhouseCoppers, the company announced today.

Morningstar will launch Managed Portfolios, a portfolio-management service geared to financial advisors, during the fourth quarter of this year, the company announced today. The program will be offered by Morningstar Investment Services, a registered investment advisor the company has established specifically to operate the new program.

Champion Mortgage, a retail home equity lender in Parsippany N.J., announced that it has added four Victory Funds to its portfolio, which includes more than 40 home equity loan programs.

IndexFunds.com of San Francisco launched Web sites in Germany and France yesterday. The company’s U.S. site offers news and performance information on index investing, including exchange-traded funds, and the new international sites (Germany / France) offer the same.

Don Luskin and Dave Nadig, co-founders of MetaMarkets.com, have launched a new online publication, called the Luskin Report. The new site will provide daily investment columns, intraday market commentary, and model portfolios originally found at Metamarkets.com.

Offitbank co-founder and managing director Stephen Shapiro has defected to New York-based hedge fund manager Satellite Asset Management. Offitbank, acquired by Wachovia Corporation in September of 1999, has seen a number of recent high-level departures.

Investors in 401(k) accounts may be on the verge of losing patience with flat equity markets, becoming increasingly pessimistic about their financial outlook and shifting assets in their retirement portfolios to stabler vehicles, according to a survey conducted by Principal Financial Group.

With a lucrative offer unprecedented for the firm, Forward Management has swiped its new director of sales from managed account giant Nicholas-Applegate, it was announced today. Richard Duff, Nicholas-Applegate’s former national sales manager, was selected by the San Franciso-based firm to lead efforts to expand its managed account business.