Money Management Executive Latest News

Stock and fixed-income mutual funds' net sales rose 22 percent in April from March, despite volatile market performance.

Exchange-traded funds probably will not eliminate traditional mutual funds in the near future, but they may represent this decade's most significant product development in the fund industry, according to a survey released last week by Financial Research Corp., a financial-services tracking and consulting firm in Boston.

Wade Dokken has been promoted to president and CEO of American Skandia of Shelton, Conn., succeeding founder Jan Carendi.

The majority of 401(k) participants choose lump-sum cash payouts when changing jobs instead of rolling over money into their new employer's plans or IRAs, according to a study by Hewitt Associates, a management consulting firm in Lincolnshire, Ill.

The Nvest Funds of Boston is planning to offer a fund that invests primarily in real estate investment trusts through one of Nvest's subsidiaries.

AGF Management Ltd. of Toronto will open offices in Tokyo and Beijing as part of its strategy to expand its international business, the company has announced.

Peter Moeller has been named managing director and executive vice president of sales for New York Life Asset Management's MainStay Management LLC of Parsippany, N.J.

The Managers Funds LLC of Norwalk, Conn., will pay up to $7 million to acquire the retail mutual fund business of Smith Breeden Associates of Chapel Hill, N.C., according to a recent Securities and Exchange Commission filing.

Dreyfus of New York has filed a registration statement with the Securities and Exchange Commission to offer a second technology fund, the Dreyfus Premier Nextech Fund.

George Pilibosian has left his position as vice president of international communications for Putnam Investments of Boston to join Nvest Funds of Boston as senior vice president of marketing.