Money Management Executive Latest News

Money Management Executive, a SourceMedia publication for executives in the asset management industry, is proud to announce the 9th Annual 2011 Fund Operations Awards, now called The NOVAs, with a number of exciting changes to the program.

Michael J. Woods, U.S. head of distribution for DWS Investments, has been given the additional role of regional head and chief executive officer of DWS Investments U.S.

Direxion has launched four new leveraged exchange-traded funds, tied to the DAXglobal Russia Index and the DAXglobal Agribusiness Index. Each of the funds seeks 300% of the daily performance or the daily inverse of those indexes.

Global X Funds has launched the Global X Canada Preferred ETF, an exchange-traded fund that targets Canadian companies that issue preferred stock. The fund tracks the Solactive Canada Preferred Stock Index.

The brokerage industry’s chief regulator said Tuesday that its examiners will spend more time on “open-ended thematic reviews” that can identify where controls on financial risks break down.

Long-term mutual funds had inflows of $7.38 billion in the week ended May 18, the Investment Company Institute said.

Fears that new SEC rules could ding asset managers’ profitability are misguided, according to a new report from investment bank Keefe, Bruyette & Woods.

After navigating their portfolios through some very difficult investment waters in recent years many ultra-high-net-worth investors are now adopting a more laissez-faire approach to their investments, leaving the day-to-day details to their financial advisers.

Near-retirees and retirees are very uncertain about their future, and many are afraid they will live in poverty, a survey of more than 300 Baby Boomers by Financial Engines found.

The Bloomberg Consumer Comfort Index fell to -49.4 in the week ended May 15, a nine-month low reflecting a pessimistic outlook among consumers as the cost of fuel and groceries continues to increase.