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The Internal Revenue Service is getting the word out to employers about a provision in the recently passed Small Business Jobs Act that allows them to amend their 401(k) or 403(b) plans to allow participants to transfer an eligible rollover distribution into a Roth 401(k) or 403(b) account.
October 4 - Money Management Executive
The Depository Trust & Clearing Corp. on Monday announced improvements to its Mutual Fund Profile Service to improve the value of the data and expand the service’s technological capabilities.
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Great-West Retirement Services has appointed Tom Masteller regional sales director for the Pittsburgh marketplace, responsible for selling 401(k) plan administration services through brokers, financial advisers, consultants, wirehouses and third-party administrators (TPAs). Great-West is the fourth-largest retirement plan recordkeeper in the U.S.
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While exchange-traded funds have been one of the biggest-selling mutual fund categories, small, niche products are finding it hard to make a go of it. Of the 129 new exchange-traded funds introduced this year, 37, or 28%, are already closed.
October 4 - Money Management Executive
DST Global Solutions has appointed Rick McCarthy vice president of sales and marketing for the Americas, in charge of DST’s investment management and business process management solutions. McCarthy reports to Walt Laliberte, managing director of the Americas.
October 4 - Money Management Executive
BlackRock, John Hancock Mutual Funds and Fidelity Investments topped Kasina's list this year of best websites for advisers.
October 4 - Money Management Executive
Managing collateral once was a dull middle-office function. That is until the end of 2008 when the financial woes of Bear Stearns, Lehman Brothers and AIG proved just how important having a solid counterparty was-and what would happen if a fund manager didn't protect itself against the disappearance of a counterparty.
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With investors consistently and rather alarmingly rushing to the exits of equity mutual funds ever since the May 6 Flash Crash-shareholders have yanked $72.9 billion out of stock funds-asset managers are aggressively reducing fees at an unprecedented rate.
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James Lam & Associates, enterprise risk management
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Advantus Capital Management has names Randal Harrison vice president and director of the insurance advisory practice, which manages assets for insurance companies. He succeeds Marilyn Forelich, who has been in this position since 1998 and who is retiring. Harrison comes to Advantus from RBC Global Asset Management, where he was a managing director and senior fixed income portfolio management.
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