- Money Management Executive
The monied continued to make money as the number of high net worth individuals and their investment assets continued to swell in 2004, according to the annual World Wealth Report released by Merrill Lynch and Capgemini on June 9th.
June 23 - Money Management Executive
In a move to stop Massachusetts Secretary of State William F. Galvin from subpoenaing documents, MassMutual Financial Group has disclosed the termination letter detailing the behavior that led to the sudden departure of former CEO Robert J. O'Connell, The Boston Globe reports.
June 23 - Money Management Executive
Bear Sterns Cos. has disclosed that it faces a possible enforcement action by the Securities and Exchange Commission because of improper mutual fund trading, Reuters reports.
June 23 - Money Management Executive
Envision Financial Systems, a software provider for mutual funds, has announced that it is expecting to complete Carnegie Mellon Software Engendering Institute's (SEI) level 4 (quantitatively managed) requirements for Capability Maturity Model Integration (CMMI) by the end of the year. This will make the company the first to reach this high certification level among all transfer agency systems.
June 23 - Money Management Executive
The Securities and Exchange Commission yesterday scheduled a vote for this coming Wednesday, June 29, on the highly controversial mutual fund governance rule that is likely to end Chairman William Donaldson's tenure on a sour note, Reuters reports.
June 23 - Money Management Executive
Following an aggressive campaign of well-reported wooing from E-Trade Financial Corp., Ameritrade Holding Corp. has now made a match with rival TD Waterhouse. TD Waterhouse, which is owned by Toronto-Dominion Bank, will become part of Ameritrade in an all-stock deal valued by the companies at $2.9 billion.
June 23 - Money Management Executive
Pomona Capital announced Tuesday that it has closed its fourth "primary" fund-of-funds to new investors after blowing away its target of $200 million.
June 22 - Money Management Executive
Back-office financial services provider SunGard plans to launch a new product that will combine its Synapse and BrokerAudit services.
June 22 - Money Management Executive
Barclays Global Investors, the largest provider of exchange-traded funds (ETFs), said in a recent regulatory filing with the Securities and Exchange Commission that it seeks approval for a new ETF tracking silver, The Wall Street Journal reports
June 22 - Money Management Executive
Fidelity Investments, the nation's third-largest mutual fund company, on Tuesday named William C. Carey president of its brokerage arm Fidelity Registered Investment Advisor Group.
June 22 - Money Management Executive
A federal appeals court on Tuesday ordered the Securities and Exchange Commission to take another look at its rule requiring greater independence among mutual fund trustees.
June 22 - Money Management Executive
Waddell & Reed Financial Monday said Michael L. Avery has been promoted to senior vice president and chief investment officer. In addition, Avery was also appointed executive vice president and chief investment officer of subsidiaries Waddell & Reed Investment Management Co. and Ivy Investment Management Co.
June 21 - Money Management Executive
OppenheimerFunds announced Monday its 529 business has reached $1 billion in assets under management, citing its customization features, competitive expense ratios and solid investment performance.
June 21 - Money Management Executive
MFS Investment Management Chairman Robert C. Pozen doesn't think hedge funds require any additional regulation beyond the recent requirement to register their advisors with the Securities and Exchange Commission.
June 21 - Money Management Executive
Pacific Investment Management Co. (PIMCO) said in a regulatory filing with the Securities and Exchange Commission last week that it has launched three new mutual funds.
June 21 - Money Management Executive
Fund manager T. Rowe Price Associates said recently that it has expanded its lineup of target-date retirement funds to 10, as assets in those funds have risen tenfold since 2003, eclipsing the $5 billion mark.
June 21 - Money Management Executive
Fidelity Investments and the Arizona Commission for Postsecondary Education will bring their unique, tax-advantaged 529 plan to families saving for college nationwide.
June 20 - Money Management Executive
The Securities and Exchange Commission is planning to conduct a policy change with regards to requesting e-mail from investment advisors and mutual funds. The watchdogs will now request managers of specific business units to produce email, as opposed to requesting the e-mail history of an entire organization, according to data tracked by Compliance Reporter.
June 20 - Money Management Executive
Two weeks after being hired as the new CEO of MassMutual Financial, Stuart "Stu" Reese is rolling up his sleeves to bring back positive publicity for the insurance giant. Reese announced the formation of an Office of the CEO that will include himself and the next four highest raking officers in the company, The Boston Herald reports.
June 20 - Money Management Executive
Attorneys representing mutual funds argued in a Baltimore federal court last Thursday to dismiss a bundle of civil lawsuits relating to the alleged favoring of wealthy customers that bilked long-term shareholders, the Associated Press reports.
June 20