Money Management Executive Latest News

After institutional assets in all asset classes—including mutual funds, pension funds, insurance companies, savings institutions and foundations—fell an average of 21.3% in 2008, they rebounded by 14% in 2009 to $25.3 trillion, on par with where they were in 2005 and 2006, The Conference Board said Thursday.

E Fund Management, the second-largest asset management company in China, is planning to offer the nation’s first registered hedge fund. Along with a long-only mutual fund, the two will invest in emerging markets securities. They will be run out of E Fund’s Hong Kong office.

NEW YORK - The main driver for the global economy is coming from emerging markets, said investment experts at Morgan Stanley Smith Barney at a breakfast Wednesday on the firm's outlook for next year.

The global mutual fund industry is on pace for $850 billion in net inflows to stock and bond mutual funds in 2010, according to Strategic Insight. More than half of the flows will go to funds domiciled outside the U.S., the research firm said.

BlackRock has launched the iShares MSCI Russia Capped Index Fund, completing its suite of BRIC single-country funds.

Charles Schwab Bank, a trust and custody service provider to 401(k) and other retirement plans, has added the Schwab Institutional Diversified International Trust Fund to its suite of collective trust funds.

Morningstar has named Peng Chen, president of its Ibbotson Associates unit, president of its global investment management division. In this role, Chen will be responsible for the company’s investment consulting, retirement advice and investment management operations in North America, Europe, Asia and Australia, including Morningstar Associates, Ibbotson Associates, Morningstar Investment Services, Old Broad Street Research and Seeds Finance.

Despite the increasing proliferation of target-date funds in employer-sponsored retirement plans, many sponsors aren’t very knowledgeable about the funds, Janus found in a survey.

Sen. Christopher Dodd said the work is far from done in terms of regulatory reform.

Roth IRA conversions have spiked at Bank of America in the past year