Money Management Executive Latest News

U.S. Bancorp expects significant long-term growth from its wealth management business over the next three to five years as it looks to reap the benefits from an aggressive four-year strategy to transform the business.

Long-term mutual funds had inflows of $6.52 billion in the week ended April 20, the Investment Company Institute said.

With the effects of the tax filing deadline still fresh in investors’ minds, Charles Schwab is encouraging them to plan ahead for their charitable donations through the end of the year in order to reduce their 2011 taxes.

Wealthy families don’t know how to establish the expectation that heirs build more wealth, SEI concluded after the first of three gatherings in Philadelphia of affluent parents and children this week.

Millionaire investor confidence sunk to its lowest level in seven months in April.According to Spectrem Group, its Millionaire Investor Confidence Index fell nine points in April to minus-one, a neutral reading and the index’s lowest level since September, when the index stood at minus-six. This marks the second-consecutive monthly decline for the index, following an identical nine-point decline in March.

The Conference Board Consumer Confidence Index increased slightly in April to 65.4, up from 63.8 in March (1985 = 100). The Present Situation Index also increased, to 39.6 from 37.5, and the Expectations Index rose as well, to 82.6 from 81.3.

OppenheimerFunds has launched the Oppenheimer Short Duration Fund, a fund that will seek to take advantage of imbalances in the credit market and provide competitive yield to money market funds and a relative stability of principal.

Wasatch Funds has launched the Wasatch Emerging India Fund, which it says it the first actively managed India mutual fund with a small-cap bias.

Intech has launched the Alpha Capture Index strategy as a passive alternative to capitalization-weighted indexing. Intech says the strategy has the potential to outperform a market-cap-weighted index and is more stable than an equal-weighted portfolio.

Van Eck has launched the Market Vectors Investment Grade Floating Rate ETF, an exchange-traded fund that seeks to track the Market Vectors Investment Grade Floating Rate Index, an index of corporate U.S. dollar-denominated investment grade floating rate notes.