Money Management Executive Latest News

Four out of five organizations that currently include money market funds in their short-term investment portfolios would drop them if a floating net asset value were to become a reality, according to a survey by the Association for Financial Professionals.

The Independent Directors Council on Tuesday urged regulators to preserve the $1 net asset value of money market funds, saying a floating NAV would not reduce systemic risk in any meaningful way.

In 2008, Oxford University Press published the first history of mutual funds, THE RISE OF MUTUAL FUNDS: AN INSIDER’S VIEW, by Matthew P. Fink, former president of the Investment Company Institute. Oxford has just published a new paperback edition, updated to cover the 2008 financial crisis and its impact on mutual funds. The following is the Preface to the new edition.

Fidelity announced Monday that the lifetime income variable annuity that it offers through MetLife, the MetLife Growth and Guaranteed Income annuity, has attracted more than $1 billion in sales since it was first offered a year ago.

Older Americans are worried about numerous factors affecting their financial security and, thus, are very skeptical of financial planners who say they are building portfolios for them to mitigate risk, research by Hearts & Wallets found through nine focus groups across the country.

NEW YORK-The U.S. economy will muddle through even as domestic stocks rake in double-digit percentage returns for the third straight year, said Robert C. Doll, the chief equity strategist for fundamental equities at BlackRock, in a breakfast briefing in New York Tuesday.

Equity funds delivered 16.57% in 2010, with more than one-third of the gains, 6.43%, coming in during the last five weeks of the year, Lipper said.

Wall Street may not exactly be on a roll, but at least it's beginning to rumble.

It was a mutual fund complex whose trading tactic, unintentionally, triggered the Flash Crash, according to federal regulators. These same regulators-the Securities and Exchange Commission and the Commodity Futures Trading Commission-are now going about scores of rule-making procedures, to implement the edicts of the Dodd-Frank Wall Street Reform Act and its call for transparency in operations.

The mutual fund industry typically focuses on weekly and monthly fund flow figures.