Money Management Executive Latest News

Eagle Asset Management has launched the Eagle Investment Grade Bond Fund, a mutual fund modeled on its High Quality Taxable fixed income separately managed accounts portfolio.

BrightScope, a 401(k) ratings and analytics firm, has formed a partnership with Acceleration Retirement, a provider of practice management, marketing and lead generation services for retirement plan advisers—to offer a complete end-to-end prospecting and client acquisition solution.

To attract customers and assets, Bank of America Merrill Lynch is offering employers a free tool, Financial Wellness Monitor, to help them gauge employees' success at saving for retirement within a 401(k) plan.

Financial planners and advisers hope that by boosting marketing they can expand their practices this year, according to a survey released by TD Ameritrade Institutional.

Money market funds are welcoming the Federal Reserve’s offer to buy an estimated $1 trillion in reverse repos, as the economy continues to rebound and the government looks to reduce the $2 trillion it pumped into the capital markets.

Investors continue to stuff municipal bond mutual funds with cash, supporting bond prices even as by some measures they are nearly as expensive as they have ever been.

While sales of variable annuities declined 18% to $127 billion last year, guaranteed living benefits remained popular, with 84% of policyholders electing to buy those riders in the fourth quarter, according to LIMRA.

Capital Fulfillment Group has debuted ClickOne, a summary prospectus tool in compliance with Securities and Exchange Commission rules. Using patented technologies, it is designed to offer a simple and cost-effective way for mutual fund companies to equip investors with summary prospectuses via print-on-demand. CFG estimates this will reduce asset management firms' printing costs by 80%.

AlphaOne Capital Partners, a hedge fund and alternative investments boutique founded by former Gartmore CEO Paul J. Hondros, has selected SEI to provide a complete outsourcing solution, including a full range middle- and back-office services.

America’s millionaires are bouncing back. The number of U.S. households with a net worth of $1 million or more, not including their primary residence, grew 16% to 7.8 million in 2009, up from 6.7 million the year before, Spectrem Group’s “Affluent Market Insights 2010” report shows. In 2008, the millionaire population declined 27%.