Money Management Executive Latest News

Aquila Management Corp. of New York, adviser to the Aquila Group of Funds, has created two new equity funds with economist Arthur B. Laffer.

Jeffery Omdahl is now national vice president for sectors at ProFund Advisors of Bethesda, Md. In this new position, Omdahl will be responsible for marketing ProFund's new sector funds to investment professionals. Omdahl was previously western regional sales manager at Rydex Series Trust of Rockville, Md.

NEW YORK - Mutual fund companies should consider refining their web pages with personalization technology that would enable them to tailor their web pages to individual investors' specific interests.

The Pioneer Group of Boston has issued a letter to its corporate shareholders to update them on the firm's efforts to sell the company. The April 18 letter, signed by 73-year-old Pioneer president John F. Cogan, Jr., alerts shareholders that the Pioneer "board is very encouraged by the expressions of interest received to date," and attacks Lens Investment Management of Portland, Maine, a beneficial owner of 4.1 percent of Pioneer's stock.

NEW YORK - Even though exchange-traded funds are among the largest 10 index funds in each major asset class and make up 10 percent of all index funds, fund companies are wary of offering the product, according to one industry executive.

The repeal of the Glass-Steagall Act in November has not spurred consolidation in the financial services industry yet, but it may expand distribution for one mutual fund group soon.

NEW YORK - What do the latest fashions, ethnic foods, children's toys, exotic cruises or best-selling books have to do with mutual funds?

NEW YORK - Information-based mutual fund websites will eventually become "infomediaries" or sites that offer investors objective advice on funds as well as the capability to purchase funds online, according to one website entrepreneur.

Pooling 12b-1 revenue streams and securitizing them is attracting interest, according to new research released last month by Standard & Poor's, the credit rating agency of New York.

Scudder Kemper Investments of Boston began a multi-million dollar, month-long national advertising campaign April 17 that encourages investors to think about preparing for key life events. Scudder is calling the campaign "Be Ready."