Money Management Executive Latest News

Frank Russell Company has hired Capital International and Fidelity Management & Research Company to manage portions of three of its multi-managed funds, the Tacoma, Wash.-based company announced today.

Doff Meyer, senior vice president of marketing and retail investor services at Delaware Investments of Philadelphia, resigned today in order to become the chief marketing officer at Turner Investment Partners of Berywn, Pa., she said.

Morgan Stanley Dean Witter of New York will issue a new social index fund called the Morgan Stanley KLD Index Fund, according to a preliminary prospectus filed April 17 with the Securities and Exchange Commission.

The Vanguard Group of Malvern, Pa. announced today that it is adding new financial management services for shareholders. A new area for the services will be introduced on Vanguard’s website next month and the company will phase the new services in throughout the year, according to the company.

Charles Schwab’s first-quarter earnings decline of 68 percent is more the result of declined trading by personal investors and less the result of any fluctuations affecting its mutual fund unit, according to a company spokesperson.

NASD Regulation, the regulatory arm of the National Association of Securities Dealers of Washington, D.C., announced today that it has censured and fined asset manager Stifel, Nicolaus & Company of St. Louis and two individuals in connection with the illegitimate sale of class B mutual fund shares.

Electronic business consulting firm kasina of New York will begin offering its services in Europe, the company announced Tuesday.

Janus of Denver is cutting 54 shareholder-service training positions from its operations division, according to a spokesperson for the company.

Driven by the firm's move into exchange-traded municipal bond funds, the John Nuveen Company of Chicago announced today a record net income of $28 million for the quarter ending March 31, a seven percent increase over the first quarter of 2000. Nuveen also announced gross sales of $3.8 billion for the quarter, which is also a record, up 20 percent from a year ago.

Mutual fund companies spent more on advertising last year as they touted their products’ improved performance in a bull market, according to an industry study.