Money Management Executive Latest News

Rafferty Asset Management, advisor to Direxion Funds and Direxion Shares, has hired a chief operating officer and president.

Asset managers are constantly looking for new ways to gather assets for their firms.

Target-date funds have grown phenomenally in the past five years from virtually no assets in 2007 to about $1 trillion today.

Bill Gross' PIMCO Total Return Fund (PTTRX), the world's largest mutual fund, attracted $32 million in investor deposits in March, the lowest amount since December 2011.

Private equity firms are making it known that they, too, want to pull in retail investors' money just as much as do their hedge fund counterparts.

Mutual fund shops take heed. PIMCO's 2013 Defined Contribution Consulting Support and Trends Survey sheds light on how consultants are helping their plan sponsor clients design their plans around target-date and retirement income products.

Attention! San Antonio, Texas-based USAA, the financial services company that caters to U.S. Armed Forces and State Department personnel and their families, wants to launch active exchange traded funds

The $8.7 billion Vanguard Capital Opportunity Fund (VHCOX) is now open to individual investors for the first time since 2004 and its $25,000 annual contribution limit for individual investors has been removed.

Total money market mutual fund assets increased by $2.61 billion to $2.631 trillion for the week ended Wednesday, April 3, according to the Investment Company Institute.

Westwood Holdings Group has launched three funds focused on global and emerging market equities: Westwood Emerging Markets Fund (WWEMX, WWEAX), Westwood Global Equity Fund (WWGEX) and Westwood Global Dividend Fund (WWGDX).