Money Management Executive Latest News

Fidelity Investments has expanded independent advisors’ access to third-party providers within its WealthCentral custodial platform by integrating a portfolio management solution from Black Diamond Performance Reporting.

The E*Trade fund supermarket now includes 18 funds from USAA Management, 12 of them fixed income. USAA manages $43 billion in mutual funds and $6 billion in managed accounts.

AQR Capital Management has selected J.P. Morgan Worldwide Securities Services to provide a full suite of fund administration, prime custody and related securities services for AQR’s mutual funds with more than $2 billion in assets.

Brown Brothers Harriman, a Boston-based global custodian, on Tuesday said that it expanded its relationship with OppenheimerFunds to provide middle and back office services through a new “lift-out” agreement.

Fifty-seven percent of money managers view the market as undervalued, Russell Investments found in its latest survey, of 170 senior-level managers. This is the second-highest percentage in survey history. Only 7% of managers believe markets are overvalued.

Brown Brothers Harriman Trust, based in New York City, launched the BBH Core Select mutual fund in 1998 as a small trailer fund to help younger members of its wealthy families manage smaller sums.

Morningstar may remove leveraged and inverse exchange-traded funds from its star rating system and track them separately, Scott Burns, the firm’s ETF director, told attendees at Morningstar’s ETF conference last week.

A fund devoted to investing in Build America Bonds would have a tough time avoiding debt backed by the states of California and Illinois altogether. Eaton Vance is doing its best.

The exit of capital from mutual funds in the United States has slowed down, but showed signs of picking up steam again this month.

National wirehouses are slowly moving out of cash and fixed income, which currently comprise nearly a third of their portfolios—3.9% and 25.8%, respectively—according to “Distribution Dynamics: Investment Selection,” a report from RepThinkTank, a consulting alliance for the financial services industry made up of FUSE Research Network, Momentum Partners, The Oechsli Institute and Registered Rep magazine.