- Money Management Executive
The Principal Financial Group of Des Moines, Iowa has acquired a stake in India's largest financial service provider, IDBI Investment Management Company, and created a joint venture that will be named IDBI-Principal Asset Management Company. IDBI Investment Management Company is the asset management unit of the Industrial Development Bank of India, based in Mumbai, India.
February 21 - Money Management Executive
One of the greatest strengths of Betsy Connolly, president and chief executive officer of Funds Distributor Inc. of Boston, is her ability to make the mundane side of the mutual fund business - operations, compliance and distribution - interesting, according to industry executives who know her.
February 21 -
BOSTON - A U.S. District Court judge has expressed skepticism about a shareholder's claim that Fidelity Investments of Boston had biased its mutual funds' independent directors and charged funds excessive fees.
February 21 - Money Management Executive
PFPC, the investment servicing subsidiary of PNC Bank Corp. of Pittsburgh, is poised for global growth, having completed the acquisition of First Data Investor Services Group., according to James Fox, vice chairman of PFPC.
February 21 - Money Management Executive
Net sales at Fidelity Investments Institutional Services Company, one of three major business units that make up Fidelity Investments of Boston, rose 51.2 percent in 1999 to $18.6 billion, up from $12.3 billion in 1998 and $4.9 billion in 1997.
February 21 - Money Management Executive
Warburg Pincus of New York has introduced new print mutual fund ads that are scheduled to run through 2000.
February 14 - Money Management Executive
Mutual fund companies that have undergone an initial public offering have enjoyed a higher profile and have been better equipped to retain key talent through stock options than before going public, said mutual fund executives and analysts.
February 14 -
Capitalizing on recent market volatility, Putnam Investments of Boston started offering insurance on all of its funds Feb. 1, becoming the first independent fund company to offer this type of product.
February 14 -
The Maryland Court of Appeals should uphold the constitutionality of a state law on mutual fund directors, according to mutual fund firms and fund and securities industry trade groups.
February 14 -
Pilgrim Baxter & Associates of Wayne, Pa. will begin offering separate accounts in an effort to attract high-net-worth investors, according to Tom Florence, a senior vice president and director of the firm.
February 14