Money Management Executive Latest News

The Investment Adviser Registration Depository (IARD) system was launched Dec. 4, 2000. This April 30 marked the conclusion of the implementation period for existing investment adviser firms registered with the Securities and Exchange Commission to transition onto IARD.

GE Asset Management has given up on efforts to sell its line up of 21 retail funds no-load resulting from weak direct sales. In June, the firm stopped selling directly to investors on its Web site and through Charles Schwab’s no-load fund supermarket, according to Tim Benedict, a company spokesman.

The E*Trade Funds has filed a proxy with the Securities and Exchange Commission to merge its E-Commerce Index Fund into its Technology Fund. The change, which shrinks the Menlo Park, Calif. firm's lineup to six funds, was fueled by 'changing industry conditions and investor needs,' according to the proxy.

The Rydex Funds has been selected to sub-advise the Wells S&P Real Estate Investment Trust fund, the company announced today. The agreement with Wells Asset Management represents only the second sub-advisory relationship for Rydex.

A bank and a financial services company have partnered to provide mutual funds and investment guidance to non-affluent investors, the companies said today.

Go into any one of the 2,600 Wal-Mart stores and 485 Sam's Clubs, and you'll see banners inviting you to cash your tax rebate check for free, exchange your rebate check for a "shopping card" for future purchases or present your rebate check at the cashier to cover your purchases.

The Securities and Exchange Commission censured ABN Amro and Oechsle International Advisors on Friday in what the agency called its first major enforcement action related to a Wall Street practice known as "portfolio pumping."

OppenheimerFunds will begin offering fund and client account information to investment advisors using a Web portal offered through DST Systems.

Rich Dubroff insists financial professionals shouldn't fear him. But a healthy amount of respect probably wouldn't hurt.

Diminishing assets during this protracted Wall Street slump have apparently prompted fund companies to diminish their advertising of equity funds, according to analysts and preliminary data from an advertising tracking agency.