Money Management Executive articles from January 2009

Money Management Executive archives from January 2009

Fate of 12b-1 Fees Uncertain.(News)(Securities and Exchange Commission)
January 5, 2009... Byline: John Morgan Three months ago, financial experts were concerned that the Securities and Exchange Commission was on the verge of eliminating or making major revisions to 12b-1 fees for marketing and distributing mutual funds. A lot...

Vanguard Weathers Storm Under New CEO.(News)
January 5, 2009... Byline: Matt Ackermann, American Banker Most executives wouldn't consider themselves "fortunate" if they took over one of the largest fund companies weeks before an historic market collapse. But then, most executives aren't taking over...

Managers Search for Distressed Asset Gems.(News)
January 5, 2009... Byline: Alan Lavine While the news about the economy and the markets continues to be bad, some in the business are taking heart. Many money managers, in fact, say it could be time to invest in distressed assets, citing a large number...

2009: A Year of Reckoning.(Editor's Desk)(Editorial)
January 5, 2009... Byline: Lee Barney Among my predictions for 2008 was the subpoenaing of Eliot Spitzer's e-mails to prove his smear campaign against New York State Republican Majority Leader Joseph Bruno. And we all know what happened to the disgraced...

Week In Review.(Securities and Exchange Commission)(security of Money Funds)(money market funds)
January 5, 2009... Byline: Editorial Staff SEC May Investigate Reserve Fund The Securities and Exchange Commission may bring enforcement action against the Reserve Management Company and its managers for possible violations of federal securities laws....

At Deadline.(At Deadline)
January 5, 2009... Byline: Editorial Staff SEC Halts Ponzi Scheme Targeting Haitians The Securities and Exchange Commission has received an emergency court order to halt a suspected Ponzi scheme targeted to Haitian-American investors. According to...

Executive Moves.(Neuberger Berman Inc.)(Wilmington Trust Corp.)(ClearBridge Advisors)(Editorial)
January 5, 2009... Byline: Editorial Staff Neuberger Berman Names Non-Executive Chair, CEO Neuberger Berman's board of directors has selected Tom D. Seip as non-executive chairman and Robert Conti as chief executive officer. The two men succeed Peter E....

Managers Can Take Steps to Improve Risk Forecasting.(News)
January 12, 2009... Byline: John Morgan Risk management will take on an increasingly important role this year as financial firms struggle to survive the fallout from last year's market mess. Financial institutions are in a bit of a crisis mode right now,...

Grim Outlook for Retirees; Bad Economy May Be Perfect Time to Increase Enrollment.(News)
January 12, 2009... Byline: John Morgan NEW YORK-Millions of aging Baby Boomers heeded the reassuring words of their financial advisers and remained heavily invested in equities throughout 2008, only to watch in shocked disbelief as 40% of their life savings...

Variable Annuity Outlook Hinges on Market Upturn.(News)(Industry overview)
January 12, 2009... Byline: Steve Garmhausen, American Banker Variable annuity sales sank in 2008 as the stock market's swoon scared investors off. As a result, insurers are raising prices and adding restrictions on the products. But sales of variable...

News Flash.(News Flash)(Editorial)
January 12, 2009... Byline: Editorial Staff Advisers Plan to Expand Client Base, Assets in 2009 Rather than bemoan the market's abysmal performance, investors' skepticism and the fact that their own revenues declined an average of 40% in 2008, financial...

Week In Review.(Week In Review)
January 12, 2009... Byline: Editorial Staff Average U.S. Stock Fund Tanks 38% in 2008 The average U.S. stock fund plummeted 37.9% in 2008, slightly worse than the Dow Jones Industrial Average's 33.8% loss. It was the Dow's worst year since 1931, when it...

At Deadline.(At Deadline)(Mutual fund managers)(Brief article)
January 12, 2009... Byline: Editorial Staff Morningstar's Top Awards Go to Royce, Artisan, FPA Managers of funds at Royce, Artisan and First Pacific Advisors took the three highest honors in Morningstar's annual Fund Manager of the Year Award, for...

Executive Moves.(Executive Moves)
January 12, 2009... Byline: Editorial Staff Fidelity Hires Cieszko as Institutional Services Chief Fidelity Investments has hired former Evergreen Investments Chief Executive Officer Peter Cieszko as president of Fidelity Investments Institutional...

Advisers' Balancing Act: Guarantees Versus Costs.(News)
January 12, 2009... Byline: Joan Warner, Bank Investment Consultant Investor worries about outliving their money rose exponentially last year, and combating that fear usually means a flight to guaranteed products like variable annuities with lifetime income...

U.S. to Lead Economic Recovery-in 2010; Entire World Expected to be Gripped by Recession This Year.(Mutual Funds)
January 19, 2009... Byline: John Morgan NEW YORK-The whole world will be in a recession throughout 2009, economists say, but it will be the U.S. and its strong dollar that lead the world to recovery sometime in 2010. "The U.S. has been implementing...

Millionaires Grapple With Huge Losses; Investors Lose Confidence in Advisers, Move to Cash and Stable Value.(Mutual Funds)
January 19, 2009... Byline: John Morgan Millionaires and affluent investors suffered steep losses in 2008, and most, particularly Baby Boomers, are rolling their remaining assets into cash and stable-value investments for the foreseeable future. Their...

SourceMedia Editors Give Predictions for 2009.(2009 Outlook)
January 19, 2009... Byline: Editorial Staff The events that occurred in the financial services industry over the past year were once thought inconceivable. At this point, regulators are chomping at the bit to reverse how Wall Street does business, and...

Give Investors a Plan B.(Editor's Desk)
January 19, 2009... Byline: Lee Barney If mutual fund executives needed a reason to reexamine their fund offerings, retirement calculators and the way they communicate with investors, there were a number of disturbing reports and news last week that should...

Executive Moves.(Executive Moves)
January 19, 2009... Byline: Editorial Staff American Century Hires Former Lehman Veterans John Lovito and Federico Garcia Zamora have joined American Century Investments as co-portfolio managers of the American Century International Bond Fund. The former...

At Deadline.(At Deadline)
January 19, 2009... Byline: Editorial Staff Investors More Interested In Stability Than Returns Reflecting current financial turmoil, most investors are more attuned to whether a company is viable than to its performance, according to the 2009 Investor...

Week In Review.(Week In Review)
January 19, 2009... Byline: Editorial Staff Galvin Charges Reserve, Bent With Fraud Massachusetts Secretary of the Commonwealth William Francis Galvin filed an administrative proceeding against Reserve Funds and its founder Bruce Bent, accusing them of...

SEC Official Justifies Fair Value; But Commission is Working With FASB, IASB on Complex Instruments.(News)(Securities and Exchange Commission)(Financial Accounting Standards Board)(International Accounting Standards Board)
January 26, 2009... Byline: John Morgan Fair value reporting seemed anything but fair last October when prices fell off a cliff. Money managers argued that this type of accounting, also known as mark-to-market for the way it prices assets at whatever...

Honest Communication Critical in Times of Crisis.(News)
January 26, 2009... Byline: John Morgan Mistakes, bad luck and unexpected events can happen to any firm during good times and bad, but tackling misfortune in a forthright, brutally honest manner rather than trying to sidestep unpleasant truths can mean the...

PIMCO Co-CIO El-Erian Says Trading Desks Need to Evolve.(News)
January 26, 2009... Byline: Alan Lavine If money managers want to invest in this highly volatile, largely negative financial environment, they must change the way they invest. That is the mantra of Mohamed El-Erian, chief executive officer and co-chief...

News Flash.(News Flash)(company sales of BlackRock and Janus)(Financial report)
January 26, 2009... Byline: Editorial Staff BlackRock's 4Q Income Plunges 84% to $53 Million BlackRock reported an 84% decline in fourth-quarter income, to $53 million, and full-year 2008 net income of $786 million, a 21% decline. Assets under management...

Week In Review.(Week In Review)
January 26, 2009... Byline: Editorial Staff Fidelity, Franklin, Legg Mason Suffer Largest Redemptions in 2008 Fidelity Investments, Franklin Resources and Legg Mason were hit with the biggest redemptions in 2008, losing $40 billion, $21.5 billion and $21...

At Deadline.(At Deadline)
January 26, 2009... 401(k)-Affiliated Advisers May Offer Advice: DOL The Department of Labor has ruled that financial advisers affiliated with the mutual fund companies administering 401(k) plans can offer advice. However, they must reveal the source of their...

Executive Moves.(Executive Moves)
January 26, 2009... Byline: Editorial Staff Baron Appoints Jacobs Chief Distribution Officer Baron Capital has named Brian Jacobs chief distribution officer, in charge of the retail, intermediary and institutional sales channels and reporting to President...