Money Management Executive Latest News

Escalating global inflation is the biggest challenge for businesses struggle to recover from the recession, according to the latest Global Economic Conditions survey of 2,300 accountants by the Association of Chartered Certified Accountants.

Generation X and Y are warming up to investing more than any other age group, according to a survey by MFS Investments. But they remain largely reticent investors.

Citigroup said it launched a single platform that will provide a full range of middle and back office services to buyers and sellers of over-the-counter derivative securities.

Forget retiring to a tony townhouse or a beach property in a warm climate. Clients are more concerned about having enough money for daily necessities, according to financial advisers polled by Sun Life Financial recently.A whopping 92% of advisers who responded to the Sun Life Financial study said their clients change their retirement income plans after retirement mainly to avoid running out of money, or to meet non-discretionary costs. More than one third, 34%, said clients adjust their plans to cover essentials, like unexpected healthcare costs. Just 21% said clients adjust plans to have more money for discretionary spending. Sun Life polled 477 financial advisers in March for the study.

Even though 68% of workers are saving for retirement, nearly half, 46%, have less than $10,000 saved for retirement, and 50% are not confident they will have enough money to live comfortably in retirement, a survey by the Employee Benefits Research Institute found.

GoodHaven Capital Management has launched the GoodHaven Fund, a no-load value fund with a go-anywhere mandate that includes fixed income and cash.

Destra Capital Management has expanded its lineup of funds that emphasize income and seek to minimize downside risk with the launch of the Preferred and Income Securities Fund, sub-advised by Flaherty and Crumrine, and the Focused Equity Fund, sub-advised by WestEnd Advisors.

Prudential Investments has launched three new fixed income funds: the Prudential Floating Rate Income Fund, the Prudential Absolute Return Bond Fund and the Prudential Emerging Markets Debt Local Currency Fund.

BNY Mellon Asset Servicing has launched the News and Exception Workflow System (NEWS), which provides consolidated information on mutual fund companies for broker-dealers.

"Nobody's going to get all the data perfect," notes Tom Fortin, chief information officer at BlackRock, now the world's largest asset manager.