Money Management Executive Latest News

Investors withdrew $5 billion from U.S. stock and bond long-term funds in September, Strategic Insight reports. This was a "significant improvement" from August, when open-end and closed-end mutual funds (excluding ETFs and VA sub-accounts) were hit with $33.6 billion in outflows following the downgrade of the U.S. debt rating.

Mutual fund managers prided themselves on sticking to their investment mandates early on in the financial crisis of 2008. This, even as the average U.S. stock fund fell nearly 30% in value. They counseled investors to do the same. Three years later, there is a new direction for funds: the flexibility to go anywhere, to pay closer attention to macroeconomic and market trends, and to even hunker down in cash.

Prudential Financial has named David A. Hunt chief executive officer of Prudential Investment Management, in charge of all of its asset management businesses-including public fixed income, real estate, public equity, private fixed income, mutual fund and wealth management business. Hunt will start his position Nov. 9.

BOSTON-A disillusioned Generation Y. The emergence of large middle classes in emerging nations. New forms of communicating with customers, including social networks.

Money Management Executive, in conjunction with co-sponsor NICSA, presented the 2011 NOVA Awards on Oct. 6 at NICSA's General Membership Meeting in Boston. The awards program recognized innovations in four categories: Visionary Leadership, Innovation in Customer Experience, Innovation in Back-Office Efficiencies and Creativity in Marketing Operations. Presenting the awards was Money Management Executive Publisher Bruce Morris, executive vice president and managing director with parent company SourceMedia.MME

The ripple effect of the Dodd-Frank Wall Street Reform Act is finally starting to be felt, as the Securities and Exchange Commission and Commodity Futures Trading Commission begin issuing proposed rules to carry it out.

Thirty years ago,Russell Investments changed the landscape of how fund firms could evaluate managerial performance, by launching broad benchmarks of stock performance in the United States.

The wealth management sector hasn't exactly been blazing the trail when it comes to integrating sleek new mobile devices into the workflow, but that slow ship is beginning to turn, according to a new study from the research firm Aite Group.

Wall Street high rollers are expecting big bonuses at year-end—especially hedge fund managers and executives at boutique banks.