Money Management Executive Latest News

The markets may be wreaking havoc on funds’ performance, but that is not stopping investors from pouring more money into mutual funds, according to preliminary figures issued today by Strategic Insight.

After announcing earlier this month that it will merge two of its funds, AIM Advisors of Houston, Tex. today said it will also merge its Latin American Growth and its Global Consumer Products & Services funds with two other funds. Both funds closed effective today.

The number of offshore funds with rising management fees is increasing, according to Fitzrovia International, a London-based Fund research company. Furthermore, the fee increases are greater than year’s past, according to the firm.

Fidelity Investments has tapped Boston ad agency Arnold to service an advertising account estimated to be worth $100 to $120 million, it was reported this week. Arnold will replace Hill, Holliday, Connors, Cosmopulos on the account, which involves the mutual fund and retirement markets.

Gabelli Asset Management has agreed to sell a $100 million convertible note in a private placement to Cascade Investment LLC, the investment manager that handles Bill Gates’ assets.

Senior management executives at MFS Investment Management took a voluntary salary-cut in March this year to reduce costs, maintain profitability and avoid laying off employees, according to a representative for the company.

Craig Lamson has joined Forward Funds, a group of four retail sub-advised mutual funds, where he will serve as the director of marketing, the company announced today.

Fidelity Investments has tapped Boston ad agency Arnold to service an advertising account estimated to be worth $100 to $120 million, it was reported this week. Arnold will replace Hill, Holliday, Connors, Cosmopulos on the account, which involves the mutual fund and retirement markets.

Dan and Patricia are young, sophisticated, and attractive. They have good taste in art and furniture, and most people would like to be invited to a light-filled loft like theirs for a dinner party.

Marketers at Heartland Advisors of Milwaukee, Wis. finally have something to cheer about. After months of negative PR following the blow up of two of its municipal bond funds, Heartland got a break by making Forbes’ list of the top 10 funds that perform well in both bull and bear markets.