Money Management Executive Latest News

Dodge and Cox has launched the Dodge & Cox Worldwide Funds-International Stock Fund, an Ireland-domiciled UCITS (undertaking for collective investment in transferrable securities).

The use of social media by asset managers has grown significantly in the past two years to the point where 45% of firms today are using outlets like Twitter and Facebook in some way, according to the Corporate Insight report, “To ‘Friend Is the Trend,” which will be published in October.

The Securities and Exchange Commission on Thursday charged two State Street Bank and Trust Co. employees for allegedly misleading investors about their exposure to subprime investments.

Long-term mutual funds took in an estimated $5.75 billion in the week ended Sept. 22, the Investment Company Institute said Wednesday.

Lindner Capital Advisors is offering the Equinox MutualHedge Fund, a managed futures solution, to non-accredited retail investors. Equinox Fund Management is providing the underlying MutualHedge instrument.

The House Wednesday passed the Regulated Investment Company Modernization Act, which updates mutual fund tax regulations for the first time in more than 20 years.

State Street Global Advisors has hired Scott Ebner as managing director and global head of ETF product development. Based in London, Ebner reports to James Ross, senior managing director and global head of exchange-traded funds at SSGA.

The State Street Investor Confidence Index reading of the outlook of institutional investors showed a four-point decline in September to 88, down from 92 in August. In North America, the drop was more pronounced; the confidence level fell 7.3 points to 87.9 from August’s reading of 95.2.

The willingness of mutual fund shareholders to take substantial or above-average risk remained at 30% of all mutual fund-owning households in May 2010, the same as in May 2009, the Investment Company Institute said.

A state regulator publicly released confidential information on thousands of customers of Morgan Keegan & Co., the investment banking and brokerage firm, the Wall Street Journal reported.