Money Management Executive Latest News

For the second time in less than six months, ReliaStar Financial Corp. of Minneapolis has shown that it is intent on building up its mutual fund business.

Kinetics Asset Management of White Plains, N.Y., which commanded considerable attention last year because of the outstanding performance of its Internet Fund, has launched its first-ever television ad campaign.

Mutual fund portfolio managers sometimes leave their jobs for the freedom and fees that hedge funds can bring. It can work the other way, however.

Lens Investment Management of Portland, Maine filed a preliminary proxy statement Feb. 23 asking investors to force a sale of Pioneer Group of Boston, claiming that the firm's non-U.S. ventures have distracted the firm from its core focus.

David E. Dennison has been promoted from vice president for client dealer services, to chief operating officer at Countrywide Fund Services of Cincinnati, Ohio, with $18 billion in assets under management. Prior to joining Countrywide six years ago, Dennison was an executive with Fidelity Investments of Boston.

Who says the lion will never lie down with the lamb?

Net cash flows into stock mutual funds set an all-time record in January, but net assets declined, according to the Investment Company Institute, the industry association based in Washington, D.C.

Nearly half of the industry's mutual funds are on sale. Whether that represents a bargain or a potential headache for shareholders is the subject of disagreement within and outside the mutual fund industry.

NEW YORK - Mutual fund companies that provide products and information online need to be careful they are in full compliance with SEC and NASD regulations because both organizations are starting to interpret their own regulations more narrowly than they have in the past, industry lawyers said.

The SEC has put mutual fund advisers on notice that it is keeping a close eye on the establishment of boards of directors for new funds.