Money Management Executive Latest News

The Vanguard Group of Malvern, Pa. has begun offering investors the ability to open new accounts online in a paperless transaction that collects investors' consent through electronic signatures, the company has announced.

New York Life Investment Management of Parsippany, N.J. has filed a registration statement with the SEC for its NYLIM Exchange-Traded Fund.

The Vanguard Group of Malvern, Pa. has filed with the Securities and Exchange Commission to offer its Admiral share class, a discounted share class available to some investors, on 13 of its bond funds, the company has announced.

American Skandia Life Assurance Corporation of Shelton, Conn. has added three index portfolios and eight sector portfolios to its fund offerings, according to the company.

The Willamette Funds of Portland, Ore., is planning to introduce a new fund that will invest in companies that have received venture capital financing, according to a preliminary prospectus filed Jan. 19 with the Securities and Exchange Commission.

Vanguard Investments Japan of Tokyo, the Japanese subsidiary of The Vanguard Group of Malvern, Pa., has received a broker-dealer license from the Kanto Local Finance Bureau. The company has also obtained membership in the Japan Securities Dealers Association, Vanguard Investments Japan has announced.

John Onoda has been appointed senior vice president and chief communications officer of the Charles Schwab Corporation of San Francisco. Previously, Onoda was executive vice president for corporate relations at Visa USA of Foster City, Calif.

The Securities and Exchange Commission, long the scourge of fund marketing departments, may have given marketers something to smile about in adopting new regulations on after-tax disclosure of performance information. The new regulations, which require funds to post before and after-tax performance information in prospectuses and advertisements promoting funds' tax management, provide some funds a new approach to marketing their product, said industry executives. The regulations were adopted Jan. 19.

Although using predetermined closing dates to create a sense of urgency among potential investors is an effective method of attracting assets, it is a disingenuous marketing scheme that can alienate investors and advisors, according to industry analysts and executives.

Despite National Football League estimates that 130 million people in the U.S. alone would be watching Super Bowl XXXV this past Sunday, mutual fund companies did not rush to buy advertising during the game that was to be televised on CBS.