Money Management Executive articles from March 2009

Money Management Executive archives from March 2009

As Market Hits 12-Year Low, Experts Remind Nervous Investors to Be Patient.(News)
March 2, 2009... Byline: John Morgan Reports of the death of stocks and equity mutual funds have been greatly exaggerated. While a vocal minority is predicting the end of modern portfolio theory and retirement savings plans as we know them, most...

News Flash.(News Flash)
March 2, 2009... Byline: Editorial Staff Fidelity Adding 80 Traders, Salespeople, Prime Brokers Fidelity Investments is expanding its capital markets division by 20%, or 80 positions, in trading, sales, prime brokerage and operations to serve clients...

Week In Review.(Week In Review)
March 2, 2009... Byline: Editorial Staff ICI Tells Congress 401(k) Model is Still Strong Investment Company Institute President Paul Schott Stevens testified before the U.S. House of Representatives Education and Labor Committee on Tuesday to avow that...

At Deadline.(At Deadline)
March 2, 2009... Byline: Editorial Staff Younger Baby Boomers Doing Worse Job of Saving For all the education the asset management industry has on the importance of saving for retirement, it doesn't appear to have gotten through to the younger crowd,...

ICI Proposes Super-Regulators; Institute Recommends Capital Markets Regulator, Systemic Risk Regulator.(News)
March 9, 2009... Byline: John Morgan In order to achieve meaningful reform of the financial services industry, Congress should create two key regulatory positions to oversee financial markets, according to a proposal last week by the Investment Company...

Companies PrepareFor XBRL Rules.(News)
March 9, 2009... Byline: John Morgan Mutual fund companies are finding that it's not too early to start tagging fund data with the international extensible business reporting language (XBRL) code the Securities and Exchange Commission has required them to...

Growth in 401(k)s High On the Agenda of Putnam Chief Executive Reynolds.(News)
March 9, 2009... Byline: Steve Garmhausen, American Banker Putnam Investments will waste no time reinvigorating its defined contribution business, and its long-struggling equity funds will have to earn their way into the mix, according to Robert L....

Retirement Reality Check: Provide Brutal Honesty, Realistic Guidance.(Editor's Desk)
March 9, 2009... Byline: Lee Barney Over the past year, as the S&P 500 has hit 1997 levels, the U.S. gross domestic product shrank 6.2% in the fourth quarter of 2008 and investors' retirement savings have been severed in half, we have hailed the resilience...

Week In Review.(Week In Review)
March 9, 2009... Byline: Editorial Staff Investors Pull $221.08 Billion From Equity Mutual Funds in 2008 Equity mutual funds suffered redemptions in 2008, only the third time in their history that they have had outflows. Actively managed funds lost...

Executive Moves.(Executive Moves)
March 9, 2009... Byline: Editorial Staff McCullough to Retire From DST as COO, With Hooley Replacing Him After more than 21 years of service at DST Systems, Thomas A. McCullough will retire from his current position as chief operating officer on Dec....

Supreme Court Revisits Fund Fees; Case Will Examine Gartenberg Standard for Determining Unreasonable Fees.(News)
March 16, 2009... Byline: John Morgan The mutual fund industry is eager to hear the outcome of a U.S. Supreme Court case that could determine the fate of the Gartenberg standard, an old legal precedent used to determine whether mutual fund fees are too high...

Week In Review.(Week In Review)
March 16, 2009... Byline: Editorial Staff Don't Regulate Money Funds Like Banks: Fed Chairman Unlike his predecessor, Paul Volcker, the current chairman of the Federal Reserve doesn't believe money market funds should be regulated like banks, with...

Executive Moves.(Executive Moves)
March 16, 2009... Byline: Editorial Staff Aviva Taps Ranges, Jacobs For Development, CIO Aviva Investors N.A. has named Robert Ranges, Jr. head of business development and Doren Jacobs chief information office. "Doren and Rob will provide important...

Money Fund Group Seeks 5-Day Redemption Window; Changes Aimed at Transparency, Stability, Confidence.(News)
March 23, 2009... Byline: John Morgan Investors seeking safety and stability have recently been moving massive amounts of their assets into money market mutual funds, causing the funds to swell to nearly $4 trillion and making them the single largest mutual...

Variable Annuity Prices Up, Despite Sales Drop.(News)
March 23, 2009... Byline: Matt Ackermann, American Banker It's counterintuitive-wealth managers are ratcheting up the price and providing lower returns on variable annuities. Some providers have doubled prices in the past six months, and more changes are...

ICI Chair Underscores Fund Merits, Seeks Better 401(k) Education Efforts.(News)(Interview)
March 23, 2009... Byline: Editorial Staff Mutual funds have been able to thrive for the past 85 years thanks to their ability to adapt to changing markets and help investors stay diversified during good times and bad. By sticking to these core values...

Week In Review.(Week In Review)
March 23, 2009... Byline: Editorial Staff Barclays Shopping iShares Unit In what would be a tremendous upset in the mutual fund industry, Barclays is shopping its iShares exchange-traded fund unit. Firms reportedly interested in the unit include...

John V. Murphy, ICI Chairman.(News)
March 23, 2009... Byline: Editorial Staff After graduating from Boston College in 1971, John V. Murphy began his career at Arthur Andersen & Co. In 1977, the certified public accountant became one of the original eight founders of Liberty Financial...

News Flash.(News Flash)
March 23, 2009... Byline: Editorial Staff 74% of Employers Still Honoring 401(k) Match The 401(k) match is holding up against the recession, American Benefits Council found. Seventy-four percent of plan sponsors who had a 401(k) match in place are still...

Hungry Lawyers Look for Funds to Sue; Supreme Court Case on High Fees Could Open Litigation Floodgates.(News)
March 30, 2009... Byline: John Morgan PALM DESERT, Calif.-Having exhausted their multimillion-dollar, class-action claims against big tobacco companies, the nation's top trial lawyers are now turning their attention to the mutual fund industry. ...

Executives Cite Risks Of Risk Regulator; Obama Administration Hurries to Take Plan to G-20 Summit.(News)
March 30, 2009... Byline: John Morgan PALM DESERT, Calif.-The United States is determined to show the world it is leading global economic recovery efforts, even if that means creating what some in the industry view as risky new risk regulators. Congress...

Experts Testify Against Last-Minute Bush Regs Permitting 401(k) Advice; Advice One of Many Regulations Obama is Reviewing.(News)
March 30, 2009... Byline: Lydell C. Bridgeford, Employee Benefit News A last-minute Bush administration regulation that would permit advice in 401(k) plans was called into question Tuesday by a number of consumer advocates and other experts who testified...

Striking the Right Pose: Fund Ads Stress Stability.(Editor's Desk)
March 30, 2009... Byline: Lee Barney Seeing how it is going to be a very long time before mutual fund advertisements can tout three-, five- and you can just forget about one-year performance, we will be seeing more guarded, sober sales and marketing...

Week In Review.(Week In Review)
March 30, 2009... Byline: Editorial Staff PIMCO, BlackRock Among First Fund Firms to Apply for Toxic Asset Program PIMCO and BlackRock are two of the first mutual fund companies to sign up for the Treasury Department's new program to purchase troubled...

SEC Unlikely to Reform 12b-1 This Year: Donohue.(At Deadline)
March 30, 2009... Byline: John Morgan PALM DESERT, Calif.-Andrew Donohue, director of the Securities and Exchange Commission's Division of Investment Management, said Monday that he doesn't think the SEC will push for changes to rule 12b-1 govering mutual...

Executive Moves.(Executive Moves)
March 30, 2009... Byline: Editorial Staff Sullivan Named Head Of Fidelity Bond Group Fidelity Investments has hired Christopher Sullivan to serve as head of its bond group, in charge of $170 billion of assets under management. Sullivan, a 25-year...