Money Management Executive Latest News

The Matthew 25 Fund has only $27 million under management. But one shareholder would like to see the diminutive fund adopt a requirement that each of the fund's directors have a $25,000 stake in the fund before he is elected, or reelected, to serve as a director.

An advertisement promoting the GE Financial Network is giving the GE mutual funds highly-prized prime time, national exposure during the Summer Olympics.

In the Sept. 25 issue of MFMN, it was incorrectly reported that the ICI opposes the SEC's recently adopted Rule FD. In fact, the ICI supports the rule but has reservations about it and is seeking revisions in it.

NEW YORK - While exchange-traded funds are expected to grow rapidly in the near future, their growth will be hampered by numerous obstacles.

J.P. Morgan Investment Management of New York is selling its 50 percent share of DKB Morgan, a mutual-fund joint venture with Dai-Ichi Kangyo Bank of Tokyo, according to Chris Cosentino, spokesperson for J.P. Morgan. The company declined to disclose the asking price for its share.

Fidelity Investments of Boston announced last week that its 401(k), 403(b) and 457 retirement plan investors, by the end of the year, will be able to monitor their accounts over the Internet using wireless devices such as cellular phones, hand-held computers, and two-way pagers.

Harris Insight of Chicago has come up with a method of easing parents' anxieties about saving enough money to send their children to college. Harris' College In-Sight program, which has been actively promoted since March, encourages investors to save by offering college tuition reduction rewards based on their mutual fund account balances.

The SEC will not aggressively enforce the recently adopted Rule FD, or fair disclosure rule and will only prosecute those cases that are clearly in violation of the rule, said Steve Cutler, a deputy director for the SEC's division of enforcement.

Standard & Poor's Fund Services of New York announced Sept. 18 that it will broaden the mutual fund services it offers in Latin America, including offering "Select Fund" designations in Mexico and Argentina next year.

Net flows for emerging market mutual funds turned negative in July and amounted to a loss of $700 million, according to figures released by eMergingPortfolio.com, a website sponsored by Global Investor Publishing that collects financial data on emerging markets.The data is based on the flows of approximately 1,300 funds that track emerging markets throughout the world. Net outflows for the year through the end of July totaled $580 million. It was the first