Money Management Executive Latest News

The Securities and Exchange Commission on Tuesday asked the financial services industry to comment over the next 30 days on whether there should be different sets of rules for broker-dealers and investment advisors vis-à-vis personalized investment advice to retail investors.

Bernie Madoff and financiers of his ilk have changed the landscape for hedge fund managers forever.

Managers of startup hedge funds who think they won't have to register with regulators because of their size had better think again.

Bank of America Corp. announced Tuesday it hired Lisa Shalett as chief investment officer of Merrill Lynch Global Wealth Management and head of investment management and guidance.

Buoyed by the strength of the long-term municipal market over the past 18 months, mutual fund assets have climbed to record levels, and portfolio managers have had little need to make major changes to their current investment strategies.

Regulators want it. Investors may want it more.

More than 8,500 mutual funds operate in the United States, sending out more than 350 million prospectuses each year on the investment purpose, contents and performance of their portfolios, by one estimate of the Securities and Exchange Commission. Average size: About 52 pages, each.

Fund Fees: The Journal's "Fund Track" column said a proposal to limit and shed more light on 12b-1 distribution fees for mutual-funds could have an unintended consequence: making investment advice unaffordable for smaller investors.

High yield bond funds took in nearly $1 billion for the week ending July 28 for the third-largest weekly inflow of the year, according to a report published by Lipper FMI.

Following the SEC's unanimous vote to shed light on 12b-1 fees, the consumer press is now running with the story. An Associated Press story over the weekend provides something of a "crib sheet" on how the fees were first instituted in 1980, and how much investors are unwittingly paying for the services these fees cover.