Money Management Executive Latest News

Seeking to gain a footing in a mutual fund marketplace which offers opportunities for growth that the nearly saturated U.S. market does not, U.S. firms are opening fund supermarkets and introducing exchange-traded funds in Europe.

While most mutual fund advisers focus efforts on growing their proprietary mutual funds, some fund advisers have chosen to commit resources to building sub-advisory businesses.

Mutual funds and custodians have until next year to comply with new federal securities rules designed to insure that fund securities held abroad are properly safeguarded.

NEW YORK - Online investment calculators and research on the Internet are augmenting rather than threatening the livelihood of financial advisors, according to a survey by the Forum for Investor Advice of New York.

Rule 12b-1 fees - permitted by the Securities and Exchange Commission for 20 years to help finance fund marketing and distribution efforts - have become a crucial method funds use to pay sales charges to broker/dealers, according to a recent study by the Investment Company Institute.

Although Montgomery Asset Management of San Francisco recently joined two web-based fund start-ups in the unusual practice of revealing individual stock holdings instantaneously or with a slight delay, other established mutual fund companies are not likely to do the same, said fund executives.

The adviser to the Monetta Family of Mutual Funds and the company's top executive will appeal a recent Securities and Exchange Commission ruling that the firm and executives associated with the funds committed fraud.

A new mutual fund, The Golden Gate Fund, will invest in the stocks of companies that have their corporate headquarters in the San Francisco Bay area, according to a registration statement the fund filed with the Securities and Exchange Commission May 1. The no-load fund intends to invest primarily in large-capitalization growth companies, according to the registration statement.

ND Holdings is acquiring ARM Securities Corp., a mutual fund and annuities broker dealer filing for bankruptcy, for an undisclosed amount of cash.

At an upcoming roundtable on investment advisors May 23, the Securities and Exchange Commission will explore whether investment advisors should form a self-regulatory organization in the manner of the National Association of Securities Dealers, among other issues.