Money Management Executive articles from April 2008

Money Management Executive archives from April 2008

Money Market Funds Fall $7.19B in W/E April 2.
April 7, 2008... Assets of total money market mutual funds fell by $7.19 billion to $3.498 trillion for the week ending April 2, according to the Investment Company Institute. Assets of retail money market mutual funds for the nation rose by $5.9 billion...

Delicate Balance: Redemptions, Opportunity: Hedge Fund Insiders Meet on Stopping The Worldwide Financial Earthquake.
April 7, 2008... NEW YORK-Things look pretty dismal when a company is burning cash and can't replace revenue, in a week when even the chairman of the Federal Reserve goes against administration policy to acknowledge a broad and deepening recession in the U.S....

Diversified Funds Tumble 10.11% in 1Q08: No Surprises Here: Red Ink Across-the-Board.
April 7, 2008... While the Dow Jones Industrial Average soared 391.47 points last Tuesday and many investment banking stocks rocketed in the mid-double digits on the good news of infusion of billions of capital from the faithful shareholders of UBS and other...

Ameriprise Dreams Don't Retire' Campaign Wins Grand Ogilvy Award.
April 7, 2008... NEW YORK-The Advertising Research Foundation awarded both its top-place Grand Ogilvy Award and the Gold Award for Financial Services to Ameriprise Financial at an awards ceremony here last Tuesday for its multimedia national "Dreams Don't...

Week in Review.(briefs)(Survey)
April 7, 2008... ICI Commends Treasury Blueprint The Investment Company Institute said it welcomes Treasury Secretary Henry Paulson's plan to overhaul the financial system's regulation apparatus. "ICI commends Secretary Paulson on a penetrating...

Profits Set to Vaporize,' Writes Motley Fool.
April 7, 2008... The market-roiling chicanery at Enron, which The Motley Fool astutely characterizes as "shredding profits" through "mark-to-market" accounting at a "batty" company - is just the beginning tale, writes Seth Jayson. Ordinary citizens fueled...

Fed Chief Won't Rule Out More Bear-Like Rescues.
April 7, 2008... WASHINGTON - Federal Reserve Board Chairman Ben Bernanke strongly defended the central bank's rescue of Bear Stearns Cos. to skeptical lawmakers Wednesday and refused to rule out similar actions in the future. A dozen members of the Joint...

Announcing MME's 2008 Fund Operations Awards.
April 7, 2008... As we look forward to next month's historic meeting of industry executives at the Investment Company Institute's "Our Foundation-Our Future" 50th Annual General Membership Meeting in Washington, D.C., we have some news of our own. In...

Executive Moves.
April 7, 2008... Wynne Takes Helm of PFPC Investment Services PNC Financial Services Group Inc. has named Stephen Wynne as chief executive of PFPC, PNC's provider of global investment services. Wynne will succeed Timothy Shack, who will remain chairman...

RiverSource Shines a Brighter Light on Threadneedle Brand.
April 7, 2008... RiverSource Investments of Minneapolis, a wholly-owned subsidiary of Ameriprise Financial, is shining a brighter light on its international subadvisory affiliate, Threadneedle International Limited, headquartered in London. To pave the way...

Transamerica Smid' Value Wins Lipper Award For Best Small-Cap Fund.
April 14, 2008... NEW YORK-The Transamerica Small/Mid Cap Value Fund was recognized as the best small-cap core fund at the annual Lipper Fund Awards dinner here last Wednesday. The fund received the rating based on its total and consistent return over a...

Lipper Analysts Offer Glimmer of Hope': 1Q08 Review and Outlook Marked by Uncharacteristic Candor.
April 14, 2008... NEW YORK-Equity mutual funds were hit with "drastic declines" across-the-board in just about every sector and style in the first quarter of 2008. Investors rushed to "take profits off the table," resulting in the worst showing, or no-show,...

As Consumer Confidence Slides, Fund Firms Re-Emphasize Retirement Preparedness.
April 14, 2008... Consumer confidence in the economy, including stocks, bonds, mortgages, credit cards and structured products, is dropping, but experts say consumers need to stay invested in a fully diversified portfolio of mutual funds for their own good and...

The Scandal That Just Won't Go Away: The Long Arm of the SEC Reaches Across.
April 14, 2008... The Pond to Sue UK Hedge Fund for $62M While criticisms abound as to who, or which regulatory entity, or set of laws and oversight, is to blame for the credit crisis, the Securities and Exchange Commission is quietly flexing new muscle of...

Executive Moves.(briefs)
April 14, 2008... Former Fed Vice Chair Joins TIAA-CREF Former Federal Reserve Vice Chairman Roger Ferguson will be the new chief executive of TIAA-CREF. With 3.4 million customers, the Teachers Insurance and Annuity Association - College Retirement...

Panic at the Call Centers?
April 14, 2008... In times of market volatility, many people call their fund manager, their broker or their banker to find out what's going on and how they should adjust their portfolios. But fund executives say that the subprime crisis, so far, has not led to...

Week in Review.
April 14, 2008... Hedge Fund Managers Have Rough Month Hedge fund managers had a tough month in March, lagging equity and bond benchmarks but outperforming equity markets, according to firms that monitor their performance. The Hennessee Hedge Fund Index...

Citi Assembling Emerging Affluent' Arm.
April 14, 2008... Citigroup Inc. is building an advisory unit to focus on "emerging affluent" customers, or those with under $500,000 of investable assets. The unit will be named MyFi and will be part of Citi's Smith Barney. "It has been very hard for...

-ST_BY-.
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Bottom Feeders' Could Save Financials: Thomson.
April 21, 2008... NEW YORK - The financial sector took a beating in the first quarter, but financial "bottom feeders" will speed its recovery, possibly ahead of the rest of the market, experts said here at a gathering of researchers and data providers. "The...

American Airlines' Beacon Funds Take Flight : AMR Sells Investment Unit with $61B AUM to Private Equity.
April 21, 2008... On the heels of its $328 million loss in the first quarter, down from a $81 million profit in the first quarter of 2008, American Airlines' parent company, AMR Corp., Fort Worth, Tex., announced on Wednesday it is unloading 90% of its American...

Optimists Look to Growth Investing: After Recession, Next Boom Could be Promising.
April 21, 2008... NEW YORK-While the majority of economists now believe the U.S. is in a recession, market optimists are already looking ahead to the rebound. "Wall Street has been preparing for a hurricane, but we may just be headed for bad weather," said...

Regulators Dig Deep Into Auction Rate Securities.
April 21, 2008... The Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission and New York Attorney General Andrew Cuomo are looking into possible irregularities in auction rate securities (ARS). There were reports at...

4212008: Inflection Point.
April 21, 2008... A number of news events in the past week alone indicate without question the U.S. economy is at a dangerous inflection point, but so far, no one-no economist, analyst, fund manager, regulator, legistator, president or CEO-is willing to put...

Executive Moves.
April 21, 2008... Envestnet Snags Ibbotson's Henkel for Retirement Group Mike Henkel, the former president of Ibbotson Associates, has joined Envestnet as managing director of the firm's new retirement services group. Henkel has more than 20 years of...

State Street Sees Room for Further Growth in 2008.(Company overview)
April 21, 2008... State Street Corp.'s top executive said that the Boston company plans to focus on adding customers, developing business and products through its investment management arm, and expanding internationally, and that he remains cautiously optimistic...

Wall Street Bailout Could Cost Taxpayers $1.8 Trillion: S&P.
April 21, 2008... Merrill to Lay Off 4,000, GE Earnings Slump Standard & Poor's said the potential bill to U.S. taxpayers for bailing out Wall Street firms could grow to $400 billion. If Fannie Mae and Freddie Mac are included, the bill could soar by an...

Hedge Funds Queue Up for $8 Billion in CDO Defaults.
April 21, 2008... Mutual fund managers invested in securities with any type of credit exposure will want to know that sister publication Asset Securitization Report has learned that another major wave of $2.8 billion-to perhaps as high as $8 billion-in...

Paulson's Funds Lead Wall Street Winners.(briefs)(Survey)
April 21, 2008... John Paulson, founder of the hedge fund Paulson & Company, made an unprecedented $3.7 billion last year by betting against subprime mortgages and the financial products that held them. Paulson took the top place in Institutional Investor's...

Jim Goff, Steady at the Janus Research Helm.
April 28, 2008... Jim Goff is a rare portfolio manager and research director who sticks to his guns no matter how erratic or rewarding the market. In fact, he has stuck, for 20 years now, with a fund complex that has just about seen it all. Janus is best...

A Legend Looks Back At the Breakthrough Of the 401(k).
April 28, 2008... Talk about a living legend brimming with institutional knowledge. Ted Benna is the brains behind the entire mass-market mutual fund industry. While working as a tax accounting executive for the Johnson Cos. in the 1970s, a section of the...

An Historical Perspective on the 401(k): The Inspiration Behind Mass-Market Retirement Savings.
April 28, 2008... What inspired me to find a tremendous investing opportunity in the Internal Revenue Service?fs tax code? Back in the 1960s and the 1970s, Most Fortune 500 companies had traditional defined benefit pension plans and thrift/savings plans....

Industry Braces For SEC's XBRL Mandate: U.S. Far Behind China, Japan on eXtensible Reporting.
April 28, 2008... NEW YORK-As the world economy becomes increasingly connected, communicating important financial information, such as income statements, cash flow, balance sheets and mutual fund returns, would be all but impossible without a common language....

Add Forensic Testing To The SEC Exam Checklist.
April 28, 2008... At the Securities and Exchange Commission's meeting on April 17 and 18 in Washington, D.C., open only to chief compliance officers, SEC chief examiner Gene Gohlke announced that mutual funds can now add forensic testing to their SEC exam...

Finding Momentum.(Brief article)
April 28, 2008... Kiplinger's Personal Finance says momentum funds made a big comeback last year. Momentum investors buy stocks that have already gone up, betting that they will go up some more. Though this may sound "like mindlessly chasing the hottest...

Executive Moves.
April 28, 2008... BoA Hires Former Fido Marketing EVP Huang Bank of America has named Claire Huang as head of marketing for its Global Wealth & Investment Management division. She will be responsible for developing and executing the marketing strategy...

Morgan Keegan Boots Kelsoe Off 7 Bond Funds.
April 28, 2008... To paraphrase Donald Trump, Morgan Asset Management has essentially told bond fund manager James Kelsoe, "You're fired!" In what The Wall Street Journal is characterizing as "bond broadside" - and news that MME first reported in January -...

Week in Review.(briefs)
April 28, 2008... Hedge Fund Investments Drop in First Quarter Hedge fund investors started the year off slowly, only raising $16.5 billion in the first quarter of this year, according to Hedge Fund Research (HFR). "The financial market volatility which...

Money Funds Seeing Huge Inflows, Opportunities.
April 28, 2008... A flood of retail and institutional investors have hit the sidelines and settled comfortably into money market funds in light of the equity market roller coaster and credit market stumble. As of March 31, money fund assets topped $3.27...

Hands-Off' Investors Could Save Markets: Analysts Fear Major Shift From Equity Funds to Money Markets.
April 28, 2008... Many investors are gasping at the first-quarter losses on their financial statements and wondering whether they should change their asset allocation to a more conservative plan. A massive shift of mutual fund assets from stocks to money...