Money Management Executive Latest News

AIM Management Group of Houston, Texas has announced that it has formed AIM Private Asset Management, a new subsidiary that will market customized portfolios to high-net-worth and institutional clients.

Mercury Funds, a unit of Merrill Lynch Investment Managers of New York, has announced that the Hotchkis and Wiley family of funds will be renamed using the Mercury brand name.

Bruce Caldwell has been named divisional vice president for national sales of Nvest Funds of Boston. Caldwell previously was regional vice president of Nvest Funds where he oversaw sales in the southeast.

The Money Management Institute of Washington D.C. has taken exception to the Investment Company Institute's request that the SEC re-examine a rule that grants managed accounts an exemption to the Investment Company Act of 1940, according to a memorandum the Institute sent to its membership Aug. 29.

Synergy Mutual Funds of Toronto has joined a small group of fund companies which have recently begun using a novel new medium for advertising - television screens in elevators.

Jim Atkinson says he took a risk last month when he resigned as managing director of Investec Asset Management US Limited of Pasadena, Calif., to become the president of MaxFunds.com, an eight month-old Internet start up.

Tie-in special promotions, no matter how gimmicky, can help a mutual fund company sell. That is the conclusion of a recent report on promotions, or "affinity programs," from kasina, an electronic-commerce consulting firm in New York that specializes in mutual funds.

Margaret Sheehan is a partner with the Washington D.C. branch of the law firm, Alston & Bird LLP of Atlanta, Ga. Sheehan's practice focuses on electronic commerce compliance. She represents several financial service firms including Invesco and American Express. Sheehan recently discussed current regulatory and compliance issues surrounding electronic commerce with Mutual Fund Market News reporter, Andrew Greene. An edited account of their conversation follows.

Aeltus Investment Management of Hartford, Conn., having had success with earlier, similar products, has begun selling the Aetna Index Plus Protection Fund, a fund with guaranteed principal. This is the fifth such fund Aeltus has begun selling under the Aetna Principal Protection Funds brand since October of last year.

Fred Alger Management of New York and Davis Selected Advisors of Tucson, Ariz. are working to broaden their six-year old alliance to distribute mutual funds and service to their fund shareholders in Germany.