Money Management Executive Latest News

Charles Schwab has agreed to settle a federal class-action lawsuit related to its YieldPlus Fund for $200 million, far less than the $800 million plaintiffs had sought.

NEW YORK—Japan is the most energy-efficient country in the world, using nearly half the energy consumption per GDP of the United States and nearly one-eighth less than India and China, said Shuhei Abe, portfolio manager of the Hennessey Select SPARX Japan Fund.

WASHINGTON — Jafor Iqbal wonders if advisers are from Mars and retirees are from Venus.

XBRL US is working on applications for Apple’s iPhone and newly release iPad. The goal is to demonstrate the power of XBRL in a simple and accessible way, said XBRL US President and Chief Executive Mark Bolgiano.

WASHINGTON — The political pressure to enact financial reform intensified Friday as the government accused Goldman Sachs Group of defrauding investors and the Senate concluded two days of hearings highlighting the allegedly lax supervision that preceded the largest bank failure in the country's history.

Arch Bay Capital, an active buyer and seller of non-performing, or defaulted, mortgages, is on the verge of jumping into the origination market and is busily gathering lending licenses in several states, according to officials briefed on its plans.

Investors pulled $324.4 billion from money market mutual funds in the first quarter, the largest quarterly outflow ever tracked by Morningstar. Approximately $148.2 billion left the funds in March, Morningstar said.

Eaton Vance Management has launched an income mutual fund that seeks to earn returns above inflation by investing in short-and intermediate-maturity Treasury Inflation Protection Securities (TIPS), as well as floating-rate corporate loans and other instruments.

John Hancock Funds has made its new natural resources fund available to retail investors through their financial advisers.

Investor confidence in hedge funds appears to be making a comeback. Just over $1 billion of net investments moved to hedge funds in the third quarter of 2009, the first quarter of inflows since mid 2008, according to Hedge Fund Research.