Money Management Executive articles from December 2008

Money Management Executive archives from December 2008

SEC Launches International Accounting Roadmap Proposal to be Monumental Undertaking for U.S. Companies.(News)
December 1, 2008... Byline: John Morgan Slowly but steadily, the Securities and Exchange Commission continues on the long journey toward adopting international tax and accounting standards, with the recent release of its long-anticipated roadmap. The...

Independents Leading Retirement Income Race Seek Customized Products, Software.(News)
December 1, 2008... Byline: Lee Barney Don't believe the retirement income hype. If the independent financial advisers and registered investment advisors at the forefront of the retirement income curve could summarize the products and support they have...

Never Allow a Crisis To Go to Waste.(News)(investment advisers on managing the financial crisis)
December 1, 2008... Byline: Steven Miyao President, kasina The signs are clear, but few firms are making decisions that will benefit them in the long term. The financial crisis is prompting firms to feel forced to react and make changes to their short-term and...

Activity Picks Up for Active Cash Managers.(News Flash)
December 1, 2008... Byline: Ken McCarthy, American Banker The $600 million in new assets that Horizon Cash Management captured in the third quarter could be a sign of things to come for the Chicago company and other cash managers. Pauline Modjeski,...

Week In Review.(Week In Review)
December 1, 2008... Byline: Editorial Staff Fund Fees Expected to Tumble By $38 Billion by 2012 Fees on actively managed mutual funds in the U.S. could fall as much as 26%, or $38 billion, by 2012 due to investors' renewed preference for fixed income and...

At Deadline.(At Deadline)
December 1, 2008... Byline: Editorial Staff Mutual Funds Have Bled $2.5 Trillion Since May Mutual funds had $9.5 trillion in assets as of Oct. 31, a full $2.5 trillion, or 21% less, than their year-to-date $12 trillion under management peak at the end of...

Executive Moves.(Executive Moves)(Putnam Investments Inc., Fidelity Investments, and Hartford Financial Services Group Inc.)
December 1, 2008... Byline: Editorial Staff Putnam Selects Farrell as Head of Equity Trading Daniel Farrell has joined Putnam Investments has head of equity trading. With more than 15 years of institutional equity trading experience, Farrell most recently...

Managers Foresee Promising Growth In Green Mutual Funds.(News)
December 8, 2008... Byline: John Morgan Everywhere you look these days, people are talking about green cars, green energy, greenhouse gases and even green mutual funds. This new demand for all things green is enough to make some money managers green with...

Executive Moves.(Executive Moves)(PNC Global Investment and Putnam Investments)
December 8, 2008... Byline: Editorial Staff PNC Global Investment Names Wolcott President PNC Global Investment Servicing has promoted Executive Vice President and Chief Operating Officer Nancy B. Wolcott to president, reporting to Chief Executive Officer...

Advisers Scramble to Protect Private Wealth; Advisers Need Better System of Identifying Risk\.(News)
December 8, 2008... Byline: John Morgan The unprecedented financial crisis of 2008 has redefined everyone's perception of risk, sending private wealth managers back to the drawing board to make sure clients really understand how risky complicated products can...

Fiscal Punchbowls Definitely 'Spiked'; Thomson Reuters Projects 9.9% Earnings Growth for S&P 500 in 2009.(News)
December 8, 2008... Byline: Lee Barney NEW YORK-"There is so much stimulus in the economy. The punchbowls are at the party, they're spiked-but no one is drinking yet." That was the apt summary of the current economic and investment picture by Rodney Olea,...

State Street Corp. to Cut 6% of Workforce.(News Flash)
December 8, 2008... Byline: Editorial Staff State Street Corp. will lay off 6% of its workforce, or 1,800 people, in the first quarter. Initially, the layoffs will cost the company as much as $350 million, or 51 cents to 55 cents a share, but that will then...

Neuberger Managers Buy Bankrupt Business In Court Sale.(News Flash)
December 8, 2008... Byline: Edditorial Staff Neuberger Berman managers have bid for and won the right to buy the asset management business in a court-supervised sale, a source told sister publication Investment Dealers' Digest. In September, Bain Capital...

Fidelity Investments Revamps Website To Focus on News.(News Flash)
December 8, 2008... Byline: Editorial Staff Seeing traffic on Yahoo's finance website and Marketwatch.com burgeon, Fidelity Investments has decided to try its hand at financial news for itself by revamping its website. Not only will Fidelity offer insight...

SEC Reminds Funds of Compliance's Importance.(News Flash)
December 8, 2008... Byline: Editorial Staff The Office of Compliance Inspections and Examinations at the Securities and Exchange Commission reminded fund companies that with all of the staffing and operational cutbacks taking place, compliance is an area...

Week In Review.(Week In Review)
December 8, 2008... Byline: Editorial Staff Fidelity Promoting FDIC-Insured CDs With the markets siphoning value from mutual funds and investors running for cover to the tune of billions of dollars in redemptions a month, Fidelity Investments is trying to...

Led by New York Life, Fixed Annuity Sales Rise 54% in Third Quarter.(At Deadline)(Financial report)
December 8, 2008... Byline: Editorial Staff Buttressed by favorable interest rates and investors looking for shelter from falling equity prices, U.S. fixed annuity sales set a new quarterly record. Total U.S. sales of fixed annuities rose to an estimated...

Asset Managers to Face New Regulatory Challenges in 2009; But Mutual Fund Firms Face Least Hits.(News)
December 15, 2008... Byline: John Morgan Financial industry analysts are anticipating a wave of new regulations to come out of this financial crisis, but with any luck, mutual funds will escape a direct hit. "Consumers, regulators and institutions all seem...

American Century Looks to Develop International Profile.(News)
December 15, 2008... Byline: Steve Garmhausen, American Banker American Century Investments has been hammered by the market downturn but is positioning itself for brisk growth at home and abroad, according to its top executive. In July the Kansas City,...

Plan Sponsors Finalize 403(b) Changes.(News)(tax-advantaged retirement savings plan)
December 15, 2008... Byline: John Morgan Ready or not, the deadline to update 403(b) plans is here. As of Jan. 1, 2009, the new changes mandated by the Department of Labor and the Internal Revenue Service will significantly alter the 403(b) funding model...

Leave the Rearview Mirror Mentality Behind.(Editor's Desk)
December 15, 2008... Byline: Lee Barney Mutual fund companies ask investors to look at past performance and judge their offerings based on their performance relative to a benchmark. It's a very rigid approach. And at this dire point in the market, with...

Week In Review.(Week In Review)
December 15, 2008... Byline: Editorial Staff Moody's Affirms Fidelity A1 Senior Rating Moody's Investors Service has affirmed the long-term A1 senior unsecured debt rating for FMR, parent company of Fidelity Investments. Moody's said that the broad...

Appeals Court Upholds Suit vs. Columbia Execs.(At Deadline)
December 15, 2008... Byline: Editorial Staff By overturning a lower court's dismissal of a case against former Columbia Funds executives James Tambone and Robert Hussey, the U.S. Court of Appeals for the First Circuit is permitting the Securities and Exchange...

Broker Pleads Guilty to Gambling Clients' $350K.(At Deadline)
December 15, 2008... Byline: Editorial Staff David R. Holst, 43, a mortgage broker in Tucson, Ariz., pleaded guilty to gambling $350,000 from mutual fund investor clients. He accepted the charges of securities fraud and filing a false income tax return. Holst...

Executive Moves.(Executive Moves)(investment advisers and members of the board hired)
December 15, 2008... Byline: Editorial Staff Three Named to Board of Money Management Inst. Jeff Cusack, president of Forward Management, Mark Spina, president and chief executive officer of ING Funds Distributor, and Lee Chertavian, chief executive...