Money Management Executive Latest News

The fair disclosure regulation that the SEC approved Aug. 10 is causing widespread concern among mutual fund portfolio managers and analysts that it will stop the flow of corporate information needed to effectively run funds, executives said.

Franklin Templeton Services, Inc., a unit of Franklin Resources of San Mateo, Calif., has sued its previous president for allegedly breaching his $1.17 million severance agreement.

The Securities and Exchange Commission has granted its first no-action letter easing the personal holdings requirements for independent directors of a fund's investment advisor. The decision puts the SEC's treatment of independent directors of a fund's investment advisor on more equal footing with the independent directors of a mutual fund company.

Actively-managed offshore funds may be an easy way for U.S. fund companies to access foreign markets, but their total expense ratios are typically very high and not published anywhere in the fund prospectuses or any other literature, according to a study conducted by Fitzrovia International of London, a research and consulting firm.

Shareholders of Phoenix Investment Partners of Hartford, Conn. have filed a class-action lawsuit against Phoenix Home Life Mutual Insurance Company, charging its offer to buy out the firm is far undervalued.

After months of battling a well-known, closed-end shareholder activist to keep the Mexico Equity and Income Fund open and then finally acquiescing to his desires, the fund is facing an ironic twist of fate.

Legg Mason's Bill Miller is in a slump, and while investors are not happy, the company is hoping that a baseball analogy will help to soothe frayed nerves.

BOSTON - As Peter Drotch prepares to retire as director of PricewaterhouseCoopers' investment management industry group, he is predicting tough times ahead for the fund industry.

Mutual fund companies should take note of 401(k) plan sponsors' growing interest in co-mingled funds, a defined contribution alternative to mutual funds that offers lower fees, according to industry executives and consultants.

Prudential Insurance Company of Newark, NJ is asking variable annuity policyholders to approve new investment management contracts for 17 variable annuity sub-accounts.