Money Management Executive Latest News

Pure-play, or sector funds, are beginning to show up along with the usual investment options of 401(k) plans: large-, small- and mid-cap, growth and value investments, according to industry executives.

Fund companies touting year-end performance in their advertisements could be setting themselves up to disillusion investors and incur increased redemptions in the coming year, industry analysts and spokespeople say.

The average account balance for active 401(k) participants grew by 26 percent from 1996 to 1998, largely due to the continuing bull market in equities, according to a recent study by the Employee Benefit Research Institute and the Investment Company Institute, both of Washington, D.C.

An unexpected tax bill has caused one small fund to take the unusual step of asking shareholders to vote twice on the same proposal in a four-month period.

John Nuveen & Company of Chicago was scheduled to run an "inspirational" 60-second commercial starring Christopher Reeve during the first quarter of Super Bowl XXXIV last Sunday. This was to be Nuveen's first television commercial.

Mutual fund investors are better served by following a "buy and hold" investment strategy rather than moving in and out of top performing funds, according to the SEC.

A proposal to merge the open-ended Global Small Cap Fund of New York with the open-ended PaineWebber Global Equity Fund, won approval Jan. 14, despite efforts by shareholder activists to delay the vote until their own opposing proxy was considered.

Liberty Financial of Boston has started the search for a new president and CEO to replace Kenneth R. Leibler, who resigned as the company's CEO and president earlier this month, according to L. Harrison Thayer, a company spokesperson.

Intuit of Mountain View, Calif. and TeamVest of Charlotte, N.C. have joined together to offer free online investment advice for 401(k) plan participants.

The adviser to the Value Trend Links Fund is preparing to expand its fund lineup.