Money Management Executive Latest News

Peter Hendricks has joined Columbia Management Company of Portland, Ore. as head of institutional client services and marketing. Hendricks was formerly the managing director of client service and business development for Bradford & Marzec of Los Angeles.

As the campaign advertising and mudslinging season drew to a conclusion last Tuesday, Fidelity Investments of Boston began its own media blitz designed to win the allegiance, and dollars, of investors.

new york - Despite their growing popularity, exchange traded funds face substantial obstacles to continued growth, according to industry executives. Foremost among those obstacles are the heavy concentration of assets in a few products and the narrowness of their appeal, the lack of understanding of the products, the need for education and the high cost of entry into the market, according to executives who spoke at a conference on closed-end funds here last week sponsored by IBC USA Conferences of Westborough, Mass.

A request by the McGraw-Hill Companies of New York for a public hearing on the Vanguard Group's efforts to add an exchange-traded share class will most likely be denied, allowing Vanguard to launch the new shares, according to industry analysts.

BOSTON -The Securities and Exchange Commission is most likely to investigate fund companies about their allocation of 'hot IPOs' when a firm fails to provide adequate information about their allocations, according to Victoria Hulick, director of

Between Jan. 1, 1999 and Oct. 1 of this year, the securities and investment industries together made $57.8 million in political contributions, according to the Center for Responsive Politics, a non-partisan, non-profit research group in Washington, D.C.

Ever more mutual fund companies are offering managed, customized accounts for individual investors, according to a recently published report by Cerulli Associates of Boston.

A hostile takeover bid for Mackenzie Financial of Toronto has put Canada's fifth largest Canadian fund company in play. What remains in doubt is whether the victor will be the opening bidder, C.I. Fund Management of Toronto. There is widespread speculation that a rival will come forward, either from within or outside Canada.

Scudder Kemper Investments of Boston is not the first no-load firm to blur the lines between no-load and load, but it could be the most noteworthy, according to at least one analyst in the industry.

Liberty Financial Companies of Boston has announced that it has retained the investment-banking firm of CS First Boston to help review its strategic alternatives, including a "possible sale" of the company. The company also reported preliminary financial results for the third quarter ended Sept. 30.