Money Management Executive Latest News

Long-term mutual funds had inflows of $386 million for the week ended Sept. 21, the Investment Company Institute said.

Wall Street firms shouldn't think about complying with the Internal Revenue Service's new rules requiring them to calculate the cost of investors' accounts only as a burdensome operational cost.

The nation’s stock exchanges and the Financial Industry Regulatory Authority are filing proposals that will trigger halts in trading, marketwide, more quickly, the Securities and Exchange Commission said.

The State Street Investor Confidence Index increased slightly, from 88.1 to 89.9 in September, and The Conference Board Consumer Confidence Index, which had declined sharply in August, remained essentially unchanged during the month at 45.2 ( 1985 = 100), up a notch from the August's 45.2 reading.

Positive results from its “Who Knew” advertising campaign have prompted John Hancock Mutual Funds to extend the campaign through the end of the year—with ads on TV, online and in print, including in sister publication Financial Planning.

Eighty-four percent of 401(k) sponsors surveyed by Mercer and the U.S. SIF Foundation (formerly known as the Social Investment Forum Foundation) believe that sustainable and socially responsible investing (SRI) funds will either hold steady or grow in the next five years.

Northern Trust has launched a new family of exchange-traded funds called FlexShares. The four funds, which are trading on the New York Stock Exchange, are based on indexes created and maintained by Morningstar and Markit.

Investors who relied on professional help in the form of target-date funds, managed accounts and advice earned nearly three percentage points more than those that did not, according to an analysis of eight large defined contribution plans between 2006 and 2010 by Aon Hewitt and Financial Engines. The plans covered 400,000 participants with $25 billion in assets.

Russell Investments has added four additional investment discipline indexes to its series, all of which concentrate on small-cap securities.

As Bank of America Merrill Lynch continues to streamline its business, it has created a new global wealth and retirement solutions organization, said Andrew Sieg, who heads the new unit, in an internal memo to employees on Friday.