Money Management Executive Latest News

Amy Domini, founder of the Domini Social Index of 400 ethical investments, has been selected as a recipient of the National Caring Award.

State Street Global Advisors of Boston has formed a new, wholly-owned subsidiary, Schoolhouse Capital LLC, to focus on the education savings market, according to State Street Global.

Fidelity Investments of Boston has announced it will introduce Research@Fidelity.com, an online research center for consumers. The new site, which is scheduled to be launched next month, will provide its own investment information aids and those of third parties as well as information from independent companies such as Lehman Brothers and Standard & Poor's. Daily news reports will be made available from Dow Jones, Reuters and SmartMoney.com, the company said.

Lorie O'Malley has been named chief operating officer for the Americas mutual fund division of Scudder Kemper Investments of Boston. Previously, O'Malley was head of Scudder Kemper Retirement Services.

While the percentage of cash held by mutual funds for the month of September reached its highest level in close to two years, it is still low compared to the five-year average and does not presage a trend, according to the Investment Company Institute of Washington D.C. and industry analysts.

The National Association of Securities Dealers Regulation last week issued a complaint against Dean Witter Reynolds of New York alleging the company used deceptive practices in the marketing of its proprietary bond funds known as Term Trusts.

The financial world may have to wait a little for the first actively-managed, exchange-traded fund, at least for the kind that leading exchange-traded fund sponsors are trying to develop.

Mutual fund investing by retail-oriented registered investment advisors has decreased since 1995, according to a recent study.

A closed-end fund shareholder group that had stalled Aberdeen Asset Management's acquisition of EquitiLink Group, has worked out a deal that will double its stake in the First Australia Fund, clearing the way for the deal to proceed as planned.

Pioneer Investments of Boston has added artificial intelligence to its website (www.pioneerfunds.com) to help visitors find information and obtain guidance on working with a financial intermediary.