Money Management Executive Latest News

If an investment product has the characteristics of a mutual fund, it should be regulated like one, according to the Investment Company Institute of Washington D.C.

SunAmerica Mutual Funds of New York, a division of SunAmerica of Los Angeles, was to run its first TV commercial Sept. 12. The ads are called, "Where Do You Want to Be?" Until now, the fund division of SunAmerica has only done billboard advertising at commuter train and bus stations and at Yankee Stadium in New York. (MFMN 3/15/99)

Phoenix Home Life Mutual Insurance Co.'s increased buyout price of Phoenix Investment Partners of Hartford, Conn., from $12.50 to $15.75 a share, may not have been enough to stop a class-action lawsuit filed against both firms, according to E.F. Goulart, a spokesperson for Phoenix Investment Partners.

Phoenix Home Life Mutual Insurance Company of Hartford, Conn. announced to its variable annuity and variable universal life policyholders in its Sept. 1 prospectus, that the board of directors of the Phoenix-Schafer Mid-Cap Value Series had voted to remove the portfolio's sub-adviser.

Asset management buyers beware. The high premiums that acquirers have been willing to pay for growth-style or publicly-traded firms may soon prove to be too high, as these two brands of asset management firms may soon be out of favor.

As fund industry growth slows, investment banking, research and consulting firms are developing theories about what the industry will look like in the coming years.

The Securities and Exchange Commission's recent Fair Disclosure Regulation has prompted U.S. fund managers to demand more accurate reporting from European companies, according to a study of U.S. fund managers by Broadgate Consultants of New York.

American Century Investments of Kansas City, Mo. has earned the honor of being the only predominantly mutual fund adviser to be named one of the top 100 companies for working mothers by Working Mother magazine.

A proxy battle is developing between fund executives and shareholder activists over who should become the new investment manager of the $105 million closed-end Mentor Income Fund.

In spite of the demise of the Tiger funds and the restructuring of the Soros funds, hedge funds have continued to grow rapidly over the past six years, quadrupling in assets during that time, according to a report from TASS Investment Research of London.