Money Management Executive Latest News

Morningstar of Chicago announced the results of a study today that shows experienced mutual fund managers have fared better during the recent bear market than their less experienced counterparts.

The Vanguard Group may add an exchange-traded share class to its Small Cap Index Fund and its Total Stock Market Fund, according to Brian Mattes, a company spokesperson.

Evergreen Investments of Charlotte, N.C. added five new share classes to its four institutional money market funds yesterday, bringing the total number of share classes it offers on the funds to seven, according to the company.

Liberty Financial Companies of Boston announced today that it has agreed to sell Keyport Life Insurance of Boston and Independent Financial Marketing Group ( IFMG) of Purchase, N.Y. to Toronto-based Sun Life Financial Services of Canada for $1.7 billion.

Robert Pozen, vice chairman of Fidelity Investments of Boston, was appointed today by President Bush to a newly-formed presidential commission that will study the Social Security program and issue a report on reforms this fall, the White House announced.

J. & W. Seligman & Co. of New York announced today that it has hired Peter M. Jones to lead new marketing, business development and client services efforts to endowments, foundations and corporate funds.

Affiliated Managers Group of Boston announced today that it has privately sold approximately $175 million in 20-year zero-coupon convertible senior bonds.

American Century Investments of Kansas City, Mo. announced today that it is introducing seven new funds and is introducing C Class shares to 23 of its funds.

Morningstar of Chicago, a provider of investment information and analytical devices, announced today that Morningstar Europe is expanding its free web-based information service to the Netherlands and Italy.

The Securities and Exchange Commission has issued further guidance on when funds should price securities using fair value pricing methodologies instead of market prices in a letter April 30 to Craig S. Tyle, general counsel of the Investment Company Institute of Washington, D.C.