Money Management Executive Latest News

After a friendly conversation, Janus of Denver has returned the rights to the web address - TomMarsico.com - to Marsico Capital Management, also of Denver, according to an industry website. Janus registered the address well before its famous portfolio manager left the firm to start his own firm, FundAlarm.com reported in its "Highlights and Commentary" section this month.

The first Investing for Success program to promote saving among African-Americans has been set for Sep. 26 in Philadelphia, the Investment Company Institute of Washington and the National Urban League of New York announced.

MFS of Boston has signed up its first partner, a regional broker/dealer with 300 registered representatives, to help sell MFS' new separately-managed account services.

Keith Mitchell has joined Putnam Lovell Securities of San Francisco as a managing director in the firm's asset management investment banking group. Mitchell was previously managing director of U.S. operations for AIB Asset Management Holdings, a division of Allied Irish Bank of Dublin.

Exchange-traded funds could turn out to be "the most significant new product category" of the decade, according to Financial Research Corp. of Boston. They will "continue their recent dramatic growth rate for many years to come," according to a recent FRC report. Any fund complex that wants to appeal to a broad investor base should probably add the products to its offerings, the report said.

A group of doctors at Harvard Medical School are saying that many of the largest mutual fund companies in the country have ignored the calls of physicians to divest their tobacco holdings.

TORONTO - AGF Management of Toronto says it has reversed the foreign takeover trend in Canada with its $296 million deal to buy Global Strategy Holdings, another independent Canadian company, also based in Toronto.

If Ted Benna, the originator of the concept of 401(k)'s, has his way, 401(k)'s could become completely flexible, portable, and participant-directed within the next ten years.

Morningstar stars may be losing their sparkle, according to two recent reports.

PERU - The National Securities and Exchange Commission (Conasev) has altered the diversification criteria with which Peruvian mutual fund investments have to comply. The regulatory body considered that, since mutual funds are composed of voluntary saving contributions, it was appropriate to widen the range of the products that fund managers can offer, to allow greater diversification of both country risk and exchange-rate risk. This approach will also reduce the risks of concentration of mutual fund investments and encourage portfolio management with a global outlook.