Money Management Executive Latest News

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.

CHICAGO — CIFG Assurance North America Inc. on Monday sued Assured Guaranty Corp., charging it with breach of contract violations for reneging on its obligation to cover the policy on $83.3 million of Xenia Iowa Rural Water District bonds as part of its 19-month-old reinsurance agreement.

Evercore Partners announced today that it has begun to roll out a new equities research group that will focus on telecommunications, media and technology and financial industries.

As Federal Express first indicated last November, it announced Monday that it will restore 401(k) matches. But the wait is still a long way off: The matches don’t start until Jan. 1, 2011.

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.

The Investment Company Institute, in partnership with the Securities Industry and Financial Markets Association, unveiled a new research series on IRAs Tuesday.

The U.S Trust wealth management division of Bank of America Corp. continues pursuing its expansion plans nationally by adding six executives to its Northeast region.

SunGard Data Systems has acquired Fox River Execution, a nine-year-old firm whose algorithms are designed to mimic the experience, thinking and knowledge of a smart trader. Terms were not disclosed.

NEW YORK-The head of NYSE Euronext said Monday that he hoped the technology upgrade it is implementing at the Warsaw Stock Exchange will lead to additional partnerships in Central and Eastern Europe.

With attractive lending opportunities hard to come by, bankers are finding themselves doing what would have been unthinkable just two years ago: discouraging deposits.