Money Management Executive Latest News

Tom Pence, the former chief investment officer of Conseco Capital Management of Carmel, Ind., left the firm Oct. 12 to join Strong Capital Management of Menomonee Falls, Wisc., because the latter is a growing business that offered better opportunities, Pence said.

Neuberger Berman of New York has announced that it intends to acquire the private asset management business of Delta Capital Management LLC, also of New York, which has approximately $550 million in assets under management. Terms of the transaction were not disclosed but it is expected to close before the end of the year. Francis L. Fraenkel and Peter K. Loeb, managers of Delta's private asset management group, will be managing directors at Neuberger Berman's private asset-management group, the firm announced. Both Fraenkel and Loeb specialize in the large-cap growth style of management.

A recent poll by the Forum for Investor Advice of Bethesda, Md. reveals investors' confidence in the markets was down significantly in October.

Americans are putting 80 percent of their discretionary investment money into long-term investments, according to a research report by the Forum for Investor Advice of Bethesda, Md. released Oct. 23.

The iShares S&P 100 Index Fund, a new exchange-traded fund, was to begin trading last week on the Chicago Board Options Exchange, according to Barclays Global Investors and the exchange. Barclays Global Investors is the adviser to the fund.

IslamiQ of New York has introduced IslamiQFunds, a new service offering

Neuberger Berman of New York has hired three new vice presidents who will work in the firm's high-net-worth services business, the firm announced last week.

As the competition in the college savings plan market mounts, funds are pulling out all stops including, in one case, corporate espionage, to win new investors, according to a lawsuit filed Oct. 20 against Fidelity Investments of Boston.

WASHINGTON D.C. - The SEC last week adopted an amendment to so-called householder rules that allow fund companies to issue one set of documents per household.

BOSTON - Failure to supervise' is one of the issues investment companies should be most concerned with when facing investigations by the Securities and Exchange Commission, according to industry executives who spoke at the Mutual Fund Compliance Conference of the National Investment Company Service Association of Wellesley, Mass. The annual conference was held here late last month.