Money Management Executive articles from May 2003

Money Management Executive archives from May 2003

Investors Need Education,ICI Execs Tell Meeting.(highlights of Investment Company Institute's general membership meeting)
May 26, 2003... WASHINGTON Maintaining more realistic expectations about mutual fund returns will be a critical step toward rejuvenating investor confidence. That was the message resonating from the Investment Company Institute's general membership...

Hedge Funds Take a Pass on Retail Investors.(highlights of a recent Securities and Exchange Commission roundtable on hedge funds)
May 26, 2003... WASHINGTON Hedge fund representatives at the recent Securities and Exchange Commission roundtable on hedge funds adamantly denied the need for increased oversight of their industry. Others at the meeting lobbied for regulators to ease current...

SEC Grants Regulatory Relief for iShares.(Securities and Exchange Commission issued an exemptive relief order permitting mutual funds to invest in iShares, a product of Barclays Global Investors)
May 26, 2003... Barclays Global Investors is blazing the trail for the exchange-traded fund (ETF) business as federal regulators have lifted key investment restrictions on its iShares product. The Securities and Exchange Commission earlier this month...

Equity Funds Reap Benefits of War Victory.
May 26, 2003... Equity mutual fund inflows in April hit their highest level in a year as investors cheered a swift military campaign in Iraq and a broad-based rally in stocks. Investors added an estimated $14 billion to equity funds last month, according...

Pisarkiewicz Joins BONY As Executive Vice President.(Bank of New York named Steven Pisarkiewicz executive vice president and head of its investment branch BNY Asset Management)(Brief Article)
May 26, 2003... Bank of New York has named Steven Pisarkiewicz executive vice president and head of its investment branch BNY Asset Management. Pisarkiewicz joins the bank from AllianceBernstein, where he served as chief investment officer of structured...

State Street Hires Marinella As CIO, Fixed Income.(Mark Marinella joined State Street Research & Management Co. as chief investment officer of fixed income)(Brief Article)
May 26, 2003... Mark Marinella has joined State Street Research & Management Co. as chief investment officer of fixed income. In this role, Marinella will oversee the firm's fixed income investment management, research, trading and administration. Marinella...

Seibert Becomes SVP for Overture Asset Managers.(Larry "Chip" Seibert to rejoin Avatar Associates, an Overture affiliate, as senior vice president and equity portfolio manager)(Brief Article)
May 26, 2003... Overture Asset Managers, LLC, an asset management holding company that acquires and manages boutique investment advisors, announced today that industry veteran Larry "Chip" Seibert will rejoin Avatar Associates, an Overture affiliate, as senior...

AIM Switches Portals Solely to DST's Vision.(AIM Fund Services has switched to using DST Systems' Vision )(Brief Article)
May 26, 2003... AIM Fund Services, the transfer agent of AIM Management Group, has switched from using two portals to supply financial intermediaries with customer information, to just using DST Systems' Vision. Previously, AIM also used the fund...

S&P 500, Dow Trounce Hedge Funds in April.(Brief Article)
May 26, 2003... Hedge funds gained an average of 1.86% in April, according to HedgeFund.net. But by comparison, the S&P 500 gained 8.24% in April and 4.83% since the beginning of the year. The Dow Jones Industrial Average also trounced hedge funds last month,...

Brinker Capital Adds Principal-Protected Notes.(Brief Article)
May 26, 2003... Brinker Capital has launched a series of principal-protected notes that are fixed income vehicles with market participation through an equity index. The first issue of notes will probably have a participation rate between 75% and 85%. As a...

PFPC Changes Focus From Pensions to Custody, Loans.(PFPC Trust Co.)(Brief Article)
May 26, 2003... PFPC Trust Co., a unit of PNC Financial Services Group Inc., says it plans to make custody and securities lending the focus of its overall business strategy. The company has promoted Sam Sparhawk IV to head its custody and securities lending...

First Quarter Advertising Down 23%.(financial services advertising)
May 26, 2003... Financial services advertising in the first quarter was $205 million, a 23% decrease from the first quarter of 2002, according to Competitrack, a New York advertising tracking company for the financial services industry. And from the fourth...

Investment Professionals' Compensation Shrinks.
May 26, 2003... It isn't happy news for U.S.-based investment managers who are watching their own bottom lines shrinking. Their median compensation is expected to fall to $148,000 in 2003, which represents a decline of 22% over 2001's frothier levels of...

International Regulations Become More Complex.(mutual funds)
May 26, 2003... BERMUDA As if raising assets in foreign markets isn't already hard enough, there are increasing regulations to contend with, as well. Capital requirements, stock ownership reporting and proxy rules are more stringent in some nations, said...