Money Management Executive Latest News

RCM has selected Northern Trust to handle its middle-office functions in Asia-Pacific, Europe and North America on Northern Trust’s global operations platform. Services to be provided include post-trade execution support, trade processing and settlement, data management, reconciliations, portfolio accounting, client valuations and administration.

State Street Corp. has entered into an agreement to acquire Pulse Trading in the fourth quarter. Pulse Trading is a full-service agency brokerage firm that offers a range of electronic trading capabilities that include block trading and blotter scraping technology.

Guggenheim Partners and Rydex/SGI announced Wednesday that Guggenheim will acquire Rydex in the first quarter of 2012 and combine its asset management capabilities under the name Guggenheim Investments. Once the deal is closed, Guggenheim Investments will have $119 billion of assets under management. Terms of the acquisition were not disclosed.

Long-Term funds netted $2.13 billion in the week ended Sept. 14, according to the Investment Company Institute.

Fidelity Investments announced Wednesday it has received commitments for an additional $17 billion in 401(k) assets under management from 269 plans representing 315,000 participants. More than $15 billion of those assets are due to new sales, with the remaining $2 billion the result of mergers and acquisitions by existing clients.

Charles Schwab is augmenting the fund asset, trading and sales information it provides to more than 600 mutual fund clients through a partnership with Access Data, a Broadridge company. The additional information will be available on Schwab’s Mutual Fund OneSource and Mutual Fund Marketplace platforms.

Janus Capital Group has unveiled a new online retirement income distribution tool aimed at helping financial advisers keep their clients’ retirement income evenly flowing for more than 30 years.

A new report by the Investment Company Institute shows that over the past four months, a staggering $75 billion has been withdrawn from equity mutual funds.

Mutual funds’ fair value procedures are holding up amid the unprecedented market volatility that has resulted from economic uncertainty, Middle East unrest and environmental disasters, Deloitte found in its Ninth Annual Fair Value Pricing Survey. This year’s survey queried executives at 79 asset management firms around the world with more than 3,300 fund offerings with $2.6 trillion in assets under management.

Fears over a possible economic slowdown, sovereign debt and not enough capitalization at U.S. financial institutions sent the Global Association of Risk Professionals (GARP) Risk Index up 2.5 points to 110.5 in the second quarter. This is very close to the previous high reached in the third quarter of 2010.