Money Management Executive Latest News

A hedge fund services unit of Citigroup in Bermuda has become the latest in a line of third-party middle- and back-office service providers to be sued by the trustee liquidating Bernard Madoff's firm to recoup collect funds for disgruntled investors.

When it comes to finding sub-advisory mandates, the size of the asset management firm is not a key consideration, according to a survey of 33 companies by Financial Research Corp.

Only seven months remain until new rules from the Internal Revenue Service on cost-basis reporting take effect.

Sure, it's easier to grow quickly from a smaller base.

Great-West Life & Annuity has hired Joe Greene as chief marketing officer, a new position at the firm. Greene reports to President and Chief Executive Officer Mitchell Graye.

After a strong first four months of 2011, exchange-traded funds and mutual funds both saw cash flow out of products that invest long-term in stocks at the end of the second quarter.

John Hancock Financial Network already serves 2,000 financial advisers and independent broker-dealers who do business with 401(k) plans across the United States, to date, John Hancock's 401(k) support has been limited to access to asset managers. Further, John Hancock never branded its name on its defined contribution platform, instead allowing advisers to use their own.

American workers lapsed into investing inertia after the market collapsed in 2008, but standing still actually benefited many and helped their workplace retirement plan balances rebound by 31% between 2007 and 2010, Vanguard said.

The John Hancock Investor Sentiment Index fell four points in the second quarter to 18, down from 22 in the first quarter, when John Hancock debuted the index.

Euro Pacific Asset Management has launched the EuroPac Hard Asset Fund¸ designed to mitigate against inflation and the dollar devaluation.