Money Management Executive Latest News

Mutual fund dealer, W.H. Stuart Mutuals of Markham, Ontario, has agreed to pay a $25,000 fine to the British Columbia Securities Commission of Vancouver for lack of supervision of the company’s sales staff, according to the Commission.

The Securities and Exchange Commission is working on a new rule proposal that would increase the level of disclosure in funds’ annual reports, said Paul Roye, director of the SEC’s division of investment management.

Only 16 percent of online consumers make purchases primarily based on their familiarity with a brand, according to a study on marketing and branding on the Internet released yesterday by Accenture (formerly Anderson Consulting) of New York.

Robeco Groep, a Netherlands based independent asset management company, has agreed to purchase Harbor Capital Advisors of Toledo, Ohio from Owens-Illinois, a manufacturer of glass and plastic packaging, for up to $490 million in cash, Robeco Group has announced.

The Securities and Exchange Commission rule regarding fund investments' adherence to a fund's name, rule 35d-1, will take effect March 31.

PALM DESERT, Calif. – While speculation on the first actively- managed fund has focused on when one will be introduced and who will be the first to offer such a product, the Securities and Exchange Commission is seeking the industry’s help in figuring out how an actively-managed exchange-traded fund will work.

The closed-end Mexico Equity and Income Fund has, for the fourth time in less than a year, failed to garner enough votes to liquidate the fund.

Standard & Poor’s of New York announced last week that it had removed its 'Select Fund' designation from the Fifth Third: Pinnacle Fund/A, a series of Fifth Third Funds, of Pittsburgh, because of its continuous under-performance in comparison to funds with the same investment style.

Rockies Fund, a business development company (a type of closed-end fund), and its president, Stephen Calandrella, were recently found to have falsely valued the fund’s holdings and to have manipulated stock prices.

Young adults under 35 who have retirement accounts with Fidelity Investments of Boston are well prepared to meet their retirement needs.