Money Management Executive articles from January 2008

Money Management Executive archives from January 2008

Critics Call 401(k) Fee Disclosure Inadequate.
January 7, 2008... The Department of Labor's proposed rules on 401(k) disclosure are insufficient, claim critics who say the disclosure isn't to the right people. "It's clear that the rules are inadequate because they fail to require disclosure of fees and...

Goldman Launches Second of Planned ETNs: Can Nascent $4 Billion Category Take on $572B ETF Giant?
January 7, 2008... Goldman Sachs has debuted its second of several planned exchange-traded notes (ETN), the Claymore CEF Index-Linked GS Connect. The new ETN began trading on the NYSE Arca on Dec. 10. Exchange-traded notes are senior, unsecured long-term...

Fund Shops Not Hip to Web 2.0: Missing Out on Rich, New World Brainstorming.
January 7, 2008... Asset management firms are missing out-big time-on the benefits of Web 2.0 tools, such as blogs, wikis, mashups and social networking sites, by waiting for other firms to take the first step, kasina maintains. "We have seen tremendous...

Is Space the Place for Investors' Dollars? Space Industry Index Goes Live on Web.
January 7, 2008... If space is the place for your managed fund investment dollars, one new tool, the web-based Space Foundation Index, may offer an intriguing perspective on the sector. Last month the non-profit Space Foundation of Colorado Springs, Colo.,...

12b-1 Intertia Among Fund Predictions for 2008.(United States. Securities and Exchange Commission)
January 7, 2008... Seeing how the biggest story of 2007 was the subprime crisis, which only a few canny hedge fund managers foresaw, let's take a look ahead to potential news headlines for 2008. Who knows, we might even be as canny as the best of them. 12b-1...

Executive Moves.
January 7, 2008... McColgan's Next Act: Head of Morgan Wealth Ellyn A. McColgan has landed a job with Morgan Stanley as head of the company's global wealth management group, with the title of president and chief operating officer, effective in April. ...

Week in Review.
January 7, 2008... Japan Looks to Overhaul Financial Regulations Japan is hoping to strengthen its financial services industry by fundamentally changing industry regulations that have stymied growth, reports The Wall Street Journal. A proposal for a...

Question & Answer.
January 7, 2008... Gemini Fund Services Foresees Clients' Twin Needs: New Solutions, Distribution Gemini Fund Services, the Hauppauge, N.Y.-based administrator and back-office service provider to small and niche mutual funds, hedge funds and variable...

Mutual Funds Reap $1.8B In 2007 to Total $13T.
January 14, 2008... Mutual fund assets reached $13 trillion in 2007, reaping $1.8 billion over the year, according to Strategic Insight. Despite these gains, many fund executives are wary about unforeseen aftershocks from the subprime crisis and tighter...

SEC Re-Examines Financial Adviser Rules: RAND Report Could Pave Way for New Regs.(Report)
January 14, 2008... In a move that could change the way brokers and advisers sell mutual funds, the Securities and Exchange Commission has released a new report examining public and industry perspectives on investment advisors and broker/dealers. The study...

Morgan Keegan Lawsuits, Arb Claims Could be Tip of Subprime Iceberg.
January 14, 2008... Two lawsuits and two FINRA arbitration claims filed against the executives, directors, chief compliance officer, portfolio managers and independent auditor of three open-end funds and four closed-end funds managed by an affiliate of Memphis,...

AARP: Lending Boomers a Helping Hand.(AARP Financial)
January 14, 2008... As asset managers gear up for Baby Boomers' retirement years, Richard "Mac" Hisey, chief investment officer at AARP Financial, took some time out last with to speak with MME Senior Editor Brent Shearer about how investment firms are trying to...

Social Security Payments Move to Debit Cards: Is Fund Industry in Step for Second Digital Decade'?
January 14, 2008... The Treasury Department will begin offering Social Security recipients the option of receiving payments by debit card instead of traditional checks, signaling a further effort by the government to move toward electronic technology. "The...

Week in Review.(Hedge Fund Research)(State Street Corp.)(Industry overview)
January 14, 2008... Hedge Fund Managers Add Billions to Bottom Line Hedge fund managers may turn out to have raked in more dough last year than they did in 2006, according to Bloomberg. Through the first nine months of 2007 alone, three hedge fund...

Executive Moves.(appointment of Geoffrey R.T. Kenyon in Dechert)
January 14, 2008... Kenyon Switches From Goodwin to Dechert Geoffrey R.T. Kenyon, who has extensive experience in working with a broad variety of investment management firms domiciled throughout the world, in addition to independent mutual fund directors, has...

Individual Annuity Sales On Record Pace for 2007.
January 14, 2008... Early estimates for domestic individual annuity sales for 2007 show they are on a record-setting pace, growing 6% through the first three quarters of the year to reach $189.4 billion, according to LIMRA International. Variable annuity...

New ETFs May Harbor Surprise Capital Gains.
January 21, 2008... The rapid growth in the exchange-traded fund arena is increasing the complexity of capital gains taxes, writes the Wall Street Journal. Last year, 18% of the ETFs tracked by Morningstar Inc. passed along capital gains to investors, or 95...

Fidelity Turns Attention to 403(b) Retirees: Tax-Exempt Sector Set to Open to More Options.
January 21, 2008... As traditional pension plans are increasingly being replaced by defined contribution plans, retirement income plan providers will need to adjust their tactics in order to keep up with the ever-changing retirement landscape. "The retirement...

Talkin' Bout "Y" Generation: Tattoo and Texting Demographic Requires a Whole New Approach.
January 21, 2008... BOSTON - Participants at one session of last week's National Investment Company Service Association's east coast regional meeting set their sights on how the managed funds industry is going to market itself to the 80 million Generation Y...

Are Water Funds the Next Wave? Rising Tide of Demand Could Surge Interest.
January 21, 2008... First there were environmental mutual funds that rewarded do-good companies and those with sustainability sensitivities. Next came alternative energy and climate change funds. Now the next wave in mutual funds could be those that invest in...

Executive Moves.
January 21, 2008... Sincere Joins F-Squared Board Richard Sincere has joined the board of directors of F-Squared Investments, LLC. Sincere is currently chairman and CEO of Chicago-based Sincere & Co., a third-party marketing firm. He previously worked for...

Week in Review.
January 21, 2008... Vanguard Takes Top Spot from American Funds Vanguard has bumped American Funds from its six-year run as the biggest-selling fund company in the U.S., reclaiming the leading role that Vanguard last held in 2001, the Financial Times writes....

Asset Managers Predict Trends for 2008: In Search For Alpha, Funds Will Look to Capture Retirement Plans.
January 21, 2008... By now, most asset management executives have seen the predictions that large-cap growth will be the way to go in 2008. But digging deeper than mere asset class predictions, MME spoke with two industry leaders to tease out nuances of what fund...

Operational Updates Take Center Stage at Conference: Experts Look for Ways to Adapt to Changing Regulations.
January 21, 2008... BOSTON - Fund companies will need to plan ahead to ensure they can meet new regulations on fund disclosure without costly delays to investors and brokers. "One goal of the fund disclosure proposal is to make fund information more easily...

UBS-Genworth 401(k) Option Promises Income.
January 28, 2008... UBS Global Asset Management and Genworth Financial plan to introduce a guaranteed income for life option for 401(k) participants. The feature will be available on UBS' target retirement funds and other investment products by the end of the...

BNY Mellon Closes Brazil Asset Deal.(ARX Capital Management)(The Bank of New York (New York, New York))(Brief article)
January 28, 2008... Bank of New York Mellon announced Tuesday that it had completed its purchase of Arx Capital Management, a Rio de Janeiro independent asset manager. Arx Capital specializes in Brazilian multi-strategy, long-short and long-only investment...

Qualified Pass from Supremes in Stoneridge: Lawsuits Concerning Mutual Fund Back-Office Firms Could Stall.
January 28, 2008... The Supreme Court's decision in Stoneridge Investment Partners LLC v. Scientific Atlanta will mean that mutual fund companies, could be better protected from class-action investor suits involving third parties that support the administration...

Outlook Upbeat for Sub-Advised Funds: Global Demand to Fuel Need for Fund Specialists.
January 28, 2008... NEW YORK-The marketplace for sub-advised and multi-managed funds is projected to continue growing as financial products become more complicated and fund shops look to outsource specialized work. "More firms are turning to sub-advisors to...

401(k)s Should Hold Up to Recession: Switch to Safety, Income Seen as Critical.
January 28, 2008... Last week's extreme volatility in the U.S. and international stock markets has many retirees and Baby Boomers approaching retirement worried that their life savings will fall short of expectations. Some minor adjustments that steer...

Retire Rich.
January 28, 2008... Way to go. Some marketing experts are beginning to get it right. The "Magical Mystery Tour" that's been the past 60 years of Baby Boomer buying power doesn't have to end with mutual fund companies instilling the dreaded fear of outliving one's...

Week in Review.
January 28, 2008... Insured Bond Funds Quietly Outperform DALLAS-As the subprime mortgage crisis unfolded in the latter part of 2007 and took its toll on the municipal market- specifically the bond insurance industry-one sector of tax-exempt mutual funds was...

Executive Moves.
January 28, 2008... Prescott Joins FundQuest As Retirement Chief Leslie Prescott has been hired as director of retirement management solutions at FundQuest, a global provider of managed account investment solutions for financial institutions and 2,000...

Wisdom Tree ETF Curries Up to Indian Market.
January 28, 2008... Wisdom Tree Investments of New York is set to become the first asset management firm to launch an exchange-traded fund that invests exclusively in the emerging market country of India, with the planned launch of the Wisdom Tree India Earnings...