Money Management Executive Latest News

NEW YORK-Unemployment may still be 9%. Single-family home starts may be down again. But the outlook from the corner office of fund managers is increasingly sunny.

Trust, but verify.

Rising markets and belt tightening boosted asset managers' net margins to 23.4% in the fourth quarter, up from 21.1% in the third quarter, Kasina reported. This puts margins back to the level they were at before the credit crisis of 2008.

Fidelity Investments recently reported that the average 401(k) account balance it managed reached a 10-year high of $71,500 at the end of 2010, and for those who had consistently contributed to their plan, $183,100.

Putnam Investments has created a new leadership structure for its fixed income investment operations. D. William Kohli, Michael V. Salm and Paul D. Scanlon, are now co-heads the firm's fixed income team of over 60 investment professionals, who manage nearly $60 billion in assets.

Whether they call it "aggressive recruiting" or poaching, financial services companies across the board are predicting the practice will intensify in the coming year, forcing many of them to sweeten their offers and actively seek out skilled professionals both within and outside the industry.

If asset management firms had any question as to the importance of social media as a communications tool, they had better look at what millions of their customers up to.

Janus Capital has hired George Maris as portfolio manager of the Janus Worldwide Fund, reporting to Janus co-CIO Jonathan Coleman. Maris comes to the firm from Northern Trust, where he ran both retail and institutional money.

SunGard has launched a Wealth Management Regulatory and Risk Consulting Practice, part of its Wealth Management Global Services.

HOLLYWOOD, Fla. -- Brent crude oil futures for April 2011 delivery ended the week’s trading session at $115.78 a barrel on the ICE Futures Exchange at close Friday evening.