Money Management Executive articles from June 2009

Money Management Executive archives from June 2009

SEC Gives Shareholders More Proxy Voting Rights.(Governance)
June 1, 2009... Byline: John Morgan After several failed attempts, the Securities and Exchange Commission is again revisiting the contentious debate on shareholder proxy voting. In a split 3-2 vote on May 20, the SEC approved a proposal for a series...

Industry Opposes Mandatory Index Funds In 401(k) Plans.(401(k)s)
June 1, 2009... Byline: John Morgan While index funds already have a place in the lineup of most 401(k) plans, a proposed federal mandate to require at least one index fund option in these plans is intrusive and unnecessary, according to industry experts....

ETF Providers Make A Run for 401(k) Market.(401(k)s)
June 1, 2009... Byline: Steve Garmhausen, American Banker In a challenge to one of mutual funds' strongholds, exchange-traded fund providers are targeting defined contribution plans. Barclays Global Investors' iShares, the largest ETF provider, just...

401(k) Almighty; 401(k)s will inevitably supplant pensions-in our lifetimes.(Editor's Desk)
June 1, 2009... Byline: Lee Barney How far the 401(k) has come since employers first introduced the savings plan in 1981. And how far it has yet to go. 401(k)s, I predict, will become universal in our lifetimes, supplanting all forms of pension plans. ...

Week In Review.(Week In Review)(Company overview)
June 1, 2009... Byline: Editorial Staff Dow Jones Launches Economic Stimulus Index Dow Jones Indexes has launched the Dow Jones U.S. Economic Stimulus Index, which will list 50 companies that are expected to receive stimulus money from the American...

Executive Moves.(Executive Moves)
June 1, 2009... Byline: Editorial Staff ProFunds Taps Doberman As General Counsel ProFunds Group has hired Amy Doberman, formerly of the Securities and Exchange Commission, as general counsel, reporting to Chairman and CEO Michael L. Sapir. ...

2008 a Watershed Year For Some Advisers; The Fund Industry Faces Challenges as Advisers Rethink Diversification.(Sales & Marketing)
June 8, 2009... Byline: Steve Garmhausen, American Banker From recommending different products to rethinking their risk management strategy, some financial advisers say they have changed their approach in the wake of last year's market slump. Indeed, many...

Give Fund Managers Back The Power to Pick Stocks And Spot Macro Trends.(Editor's Desk)
June 8, 2009... Byline: Lee Barney Finally, insiders launched candid criticism at the mutual fund industry last week, to help it respond sensibly to the economic meltdown and reposition itself to regain investor trust. Foremost among this advice is...

At Deadline.(At Deadline)
June 8, 2009... Byline: Editorial Staff SEC Selects Members of Investor Advisory Group The Securities and Exchange Commission has announced members of its newly created Investor Advisory Committee, to give investors a greater influence over its work....

Executive Moves.(Executive Moves)
June 8, 2009... Byline: Editorial Staff Abigail Johnson Chairs Fidelity Fund Board Fidelity Investments promoted Abigail Johnson to chairman of the board of directors overseeing fixed income and asset allocation funds, yet another indication of the...

Many Advisers Loathe To Discuss Damage.(Sales & Marketing)
June 15, 2009... Byline: Steve Garmhausen, American Banker A recent cartoon in The New Yorker surely sums up many retirement investors' feelings toward their financial advisers: It depicts them being sacrificed to a volcano. There is no getting around...

Barclays Sale Puts Pressure On Exchange-Traded Funds At State Street, Vanguard.(News Flash)
June 15, 2009... Byline: Matt Ackermann, American Banker It's gut-check time at State Stree Corp. and Vanguard. Though they have profitable exchange-traded fund businesses, they could be in for a shock if Barclays Global Investors' asset management arm is...

Sponsors Continue to Add Many Features to 401(k)s.(At Deadline)
June 15, 2009... Byline: Editorial Staff Although there have been reports of one-third of employers cutting back on or eliminating 401(k) matches, for the most part, they have continued to add other features to the plans to increase participation and...

401k Fee Transparency Push Could Increase Fees, Confusion.(401(k)s)
June 22, 2009... Byline: John Morgan WASHINGTON-Many investment industry leaders are worried that the proposed 401(k) fee disclosure regulations currently being pushed through Congress will actually increase the fees investors pay and increase their...

Providers Look For Auto Rollover Solutions To Include Job Changers; Automatic Features Could Ease Burden On Former Employees.(401(k)s)
June 22, 2009... Byline: John Morgan WASHINGTON-With 47% of 401(k) plans now using automatic enrollment, the programs have helped get millions of new workers enrolled to start saving early for retirement, but industry experts say the automatic nature of...

FINRA Fines Seven Bond B/Ds for Violations.(Regulation & Compliance)
June 22, 2009... Byline: Andrew Ackerman, Bond Buyer The Financial Industry Regulatory Authority has fined seven firms a total of $184,500, including $80,000 for Tulsa-based BOSC Inc., for failing to timely or accurately report municipal securities,...

Target-Date Fund Hearing Focuses on Disclosure.(News Flash)
June 22, 2009... Byline: Editorial Staff At the hearing on target-date funds that the Department of Labor and the Securities and Exchange Commission held in Washington last Thursday, the focus was on better disclosure of holdings. Even though the...

Eliminating Money Funds' $1 NAV Causes Concern.(At Deadline)
June 22, 2009... Byline: Editorial Staff While the financial services industry largely embraced most of the Obama administration's financial services overhaul, the idea of removing money funds' $1 net asset value is causing widespread concern in the mutual...

SEC Asks for Comments on Floating NAV For Money Market Funds.(401(k)s)
June 29, 2009... Byline: John Morgan Regulators are searching for ways to make money market funds stronger without inadvertently crippling the $3.7 trillion mutual industry, but reaching that delicate balance will require compromises from both sides. ...

Regulators Target Target-Date Funds; Mandatory Glidepath Could Lower Risk.(Mutual Funds)
June 29, 2009... Byline: John Morgan Regulatory leaders are questioning whether changes need to be made to target-date funds after several 2010 funds reported huge losses last year, but mutual fund industry leaders say these concerns are overblown. ...

2008 Will Be Tough Act To Follow for Sales of Fixed Annuities.(Annuities)
June 29, 2009... Byline: Steve Garmhausen, American Banker Banking companies will be hard-pressed to repeat a banner 2008 in terms of sales of fixed annuities. Fixed annuities were popular late last year and early this year, but with interest rates falling...

News Flash.(News Flash)
June 29, 2009... Byline: Editorial Staff HNW People Decline 15% The number of millionaires in the world plunged 14.9% last year as the markets faced extreme losses and volatility, according to the Merrill Lynch/Capgemini 2009 World Wealth Report. This...

DST Systems: Supporting Investment Management for 40 Years.(Ops & Tech)
June 29, 2009... Byline: Editorial Staff DST Systems Inc. this year celebrates 40 years of providing market-leading solutions to the mutual fund industry. In recognition of this milestone, Money Management Executive asked DST's senior leadership to...

Executive Moves.(Executive Moves)
June 29, 2009... Byline: Editorial Staff Crandall to Become CEO Of Massachusetts Mutual Massachusetts Mutual Life Insurance Co. announced that Roger W. Crandall will become chief executive officer on Jan. 1. He will succeed Stuart H. Reese, who will...

Small Funds Use Personal Contact, PR to Boost Sales.(Sales & Marketing)
June 29, 2009... Byline: Dan Sondhelm, Partner, VP, SunStar Assets under management are down for nearly all firms due to market depreciation. And making matters worse, most funds have also been hit with steep outflows. According to Strategic Insight, only...