Money Management Executive Latest News

Van Eck Global has introduced the Market Vectors Poland ETF, an exchange-traded fund that offers investors pure-play exposure to Poland, the world’s 18th largest economy.

Thirty-eight percent of senior mangers around the world believe the economic crisis will end by the second quarter of next year, Atradius found in a survey of 3,500 executives in North America, Europe, Asia and Australia.

The use of wiretaps and recordings of conversations to help underpin the insider trading case against the Galleon Group hedge fund struck legal experts as unusual, for an investigation involving the Securities and Exchange Commission.

GAMCO reported that its profits in the third quarter rose 23% to $14.7 million, or 53 cents per fully diluted share, compared to $12 million, or 43 cents per share, a year ago. On a sequential basis, assets under management increased 14.5% from the previous quarter to $24.5 billion.

A Boston federal jury ruled in favor of the Securities and Exchange Commission in a case against a former Fidelity Investments trader accused of sharing inside information on Covad Communications with his mother, tipping her off when the fund giant was about to make a large purchase of the stock.

Long-term mutual funds took in $11.73 billion in the week ended Nov. 18, the Investment Company Institute said, marking the 36th straight week of inflows, which now total $369 billion.

While retail investors have largely sat out the broad market rally that started in March, continuing sound economic indicators and resilient stocks should entice them back in, The Globe and Mail reports.

State Street Global Markets announced that its Global Investor Confidence Index fell by 7.6 points in November to 100.8, down from 108.4 the month before. A reading of 100 represents a neutral level where institutions are neither allocating toward or away from risky assets.

Fueled by a 26% increase in assets under management to $154.9 billion, Eaton Vance announced that its fiscal fourth quarter profits rose 39% to $48.4 million, or 39 cents a share, up from $34.9 million, or 28 cents a share, from a year ago. Revenue increased 2% to $254 million, beating analyst forecasts of $250 million.

Attracted by exchange-traded funds’ transparency, liquidity and low fees, more institutional investors turned to these instruments during the crisis, Barclays Global Investors said in a report based on Thomson Reuters data.