Money Management Executive articles from December 2007

Money Management Executive archives from December 2007

Supreme Court May Allow Individual 401(k) Lawsuits.
December 3, 2007... A U.S. Supreme Court case of a 401(k) investor from Dallas who claimed his employer failed to execute an order, costing him $150,000, may pave the way for lawsuits by individual investors, rather than class-action suits. If the Supreme...

Credit Crunch Hitting Fund Staffing Levels.
December 3, 2007... Shakeouts at State Street Global Advisors and Bank of America's Columbia Management unit may be just the tip of the iceberg, as repercussions from the credit crunch hit mutual fund staffing levels. "We've seen people pushed out the door,...

Large-Cap Growth Vehicles Favored.
December 3, 2007... Doomsayers and recession forecasters aside, two recent studies that advocate investments in large-cap growth equities say U.S. economic problems will be largely confined to the housing sector and some parts of the financial arena. Fred...

Funds Look to New Frontiers with Caution.
December 3, 2007... Emerging markets have become the new hot spot for mutual fund companies and investors looking to diversify their portfolios internationally, but analysts say even countries like China may be too correlated to the U.S. economy to escape a global...

Greater Emphasis on Green Could Catapult SRI Funds.
December 3, 2007... Forget the hoopla over exchange-traded and emerging markets funds. If there's one new, significant development in the world that the U.S. mutual fund industry should take advantage of through the launch of new funds, it's the increasing worry...

Executive Moves.(Vanguard)(AIG VALIC)(appointments)(Brief article)
December 3, 2007... SEC Names Osterman Associate Director of Investment Management The Securities and Exchange Commission has named Elizabeth G. Osterman associate director of exemptive applications and a new special projects office in the division of...

Week in Review.
December 3, 2007... SEC Permits Companies to Bar Ballot Nominations At its open meeting on Wednesday, the Securities and Exchange Commission decided to continue allowing companies to bar shareholders from nominating directors on company ballots, although...

Average Investors Uneducated About ETFs: $464 Billion Industry Has Room for Even Greater Growth.
December 3, 2007... More than half of mutual fund investors don't know the difference between a mutual fund and an exchange-traded fund, but a recent survey found that many investors are interested in learning more about them and would consider buying ETFs if...

MassMutual Sponsors PBS Program on Retirement.
December 10, 2007... MassMutual will be the exclusive sponsor of a documentary on preparing for retirement that will air nationally on PBS stations across the U.S. this coming April. Produced by WTTW National Productions, a division of Chicago public...

As Wholesalers Wane, Fund Fit' is Key.
December 10, 2007... NEW YORK-The process of selecting mutual funds is changing as wholesalers' clout diminishes, according to panel members who spoke at a National Investment Company Service Association seminar for distribution executives here last week. Best...

401(k) Advice Sorely Needed but Unlikely: Providers Hesitate to Make the First Move.
December 10, 2007... NEW YORK-Millions of Americans will be looking for 401(k) investment advice as they prepare for retirement, but until gaps are filled in relation to conflict-of-interest liability, most 401(k) administrators and sponsors will remain reluctant...

Subprime Crisis Exposes Risk Predicament.
December 10, 2007... The subprime crisis has proved that mutual fund executives should reassess their risk management procedures, according to a Tower Group report called "Multifunctional Integration: The Positive Side of Risk." "Risk analyses that are siloed'...

Executive Moves.(appointments)
December 10, 2007... Standish Becomes Director At Fisher Wealth Mgmt. Fisher Investments' wholly owned U.K. subsidiary, Fisher Wealth Management, has hired Miles Standish as managing director. "I am delighted to have the opportunity to realize some very...

Week in Review.
December 10, 2007... Asset Management Firms Hiring More Aggressively Although the sell side has virtually halted all of its recruiting efforts due to the subprime crisis, the buy side is aggressively hiring, in anticipation of the oncoming wave of retiring Baby...

Boomers' Retirement Expectations Don't Meet Reality.
December 10, 2007... NEW YORK-Millions of Baby Boomers in their 50s are woefully unprepared for retirement, but it's not too late to convince them to start planning. "Boomers need to manage their savings to create a dependable income stream," said Lynn Ford,...

Widows, Divorcees Best Prepared of all Women Investors.(Survey)
December 10, 2007... Women who have gone through major life events, typically widows and divorcees, are often better prepared to deal with their own finances and retirement plans because they have been forced to sit down with an adviser, according to a recent study...

Many Workers Will Face Retirement Shortfall: GAO.(Government Accountability Office )(Survey)(Brief article)
December 17, 2007... For all of the talk about the importance of saving for retirement through a 401(k) and other savings plans, 37% of those born in 1990 and just now entering the workforce will have no savings by the time they leave the workforce, according to a...

New CRM Solutions Pinpoint Distribution.
December 17, 2007... NEW YORK-Distribution executives must integrate all available data, including information from outside sources, to take advantage of new marketing opportunities, according to speakers at a National Investment Company Service Association seminar...

FINRA Issues E-Communications Guidance: Asks Firms to Supervise, Review, Monitor Messages.
December 17, 2007... With new devices making it easier than ever for brokerages to communicate with customers via e-mail, instant messages or text messages, the Financial Industry Regulatory Authority has issued detailed guidance on the review and supervision of...

More ETF Players Enter the Market: But Can They Grab Market Share From the Heavyweights?
December 17, 2007... In the midst of an already crowded marketplace of exchange-traded fund (ETF) providers, two new players are making a run for the end zone hoping to score with investors. The Securities and Exchange Commission has just given the green light...

Troopergate Puts Spitz on the Skids.
December 17, 2007... It wasn't long ago that Eliot Spitzer, reveling in the glory of a national media frenzy for having shaken down Wall Street scams with a power not even the entire Securities and Exchange Commission could muster, hinted he might one day run for...

Executive Moves.
December 17, 2007... Horowitz to Oversee Index Growth at Russell Russell Investments has hired Dorsey Horowitz as a client executive with its New York office, in charge of developing the firm's indexes. She joins Russell from MSCI Barra, where she oversaw the...

Week in Review.
December 17, 2007... Schwab Successfully Unwinding SIVs: Analysts Charles Schwab is successfully selling off $8 billion in potentially risky structured investment vehicles (SIVs) that it held in six money market funds, according to a research report from...

Announcement.
December 17, 2007... Money Management Exec. To Be on Publishing Hiatus The newsletter will be on publishing hiatus over the next two weeks, in recognition of the holidays and New Year's. Until we see you again on Jan. 7, we wish you enjoyable holidays.

Cogent Forecasts The Big Mutual Fund Chill: Study Predicts Major Shift in Assets to SMAs, ETFs by 2009.
December 17, 2007... Mutual funds may see a sharp drop in popularity in the coming years as investors start to explore newer products like separately managed accounts and exchange-traded funds. Open-end mutual funds currently comprise the largest share of...