Money Management Executive Latest News

Charles Schwab & Co. of San Francisco has introduced a new website and accompanying national print advertising campaign aimed at women, the company has announced.

Richard McWalters has been named CEO of Clemente Capital of New York. Previously, McWalters was the managing director for global asset management and mutual funds at the Chase Manhattan Bank of New York.

When Thomas Pence, the former chief investment officer of Conseco Capital Management of Carmel, Ind. abruptly left the firm earlier this month to join Strong Capital Management of Menomonee Falls, Wisc., he left behind a lot more then an empty office.

Invesco Funds Group of Denver is adding a new class of shares to the majority of its funds. The new class "K" shares are offered to qualified retirement plans, educational savings programs, and wrap programs through an intermediary and include an extra fee, which will be paid to that intermediary, according to a recent SEC filing.

State Street Global Advisors of Boston is planning to launch a family of exchange-traded funds in Europe based on the European indices of Morgan Stanley Capital International of New York. State Street Global has a licensing agreement to use Morgan Stanley's sector indices, according to Liz Kennedy, a spokesperson for State Street Global.

InteractiveFunds.com of Dallas, the one-year-old financial services technology company and iExchange.com of Pasadena, Calif., the online investor community, have announced they will merge. The new company will be based in Dallas and will be called iExchange.com. Terms of the merger were not disclosed.

Natural resources mutual funds, a losing sector in recent years and having lost a net $317 million in assets last year, are some of this year's strongest performing funds. They are being used by at least one fund company to drive sales.

Investors have been chasing the Dow Jones Industrial and Nasdaq Composite indexes in October, redeeming en masse on days following poor performance and pouring money into funds on days following strong performance, according to early fund flow estimates from TrimTabs.com of Santa Rosa, Calif.

NEW YORK - Fidelity has introduced 250 pages of web-based financial planning aids designed for advisors' pre-retiree clients, Fidelity executives said. The aids became available at Fidelity's advisor website, advisorxpress.com, Oct. 12.

Directors of the $110 million closed-end Mexico Fund approved three proposals aimed at expanding the fund's investment scope, but the proposals failed to garner the necessary two-thirds vote required to adopt the measure, according to the fund.