Money Management Executive articles from November 2008

Money Management Executive archives from November 2008

CIOs Under the Budgetary Gun Who's Helping the Help Desk? As Budgets Tighten, IT Learns to Do More With Less.(News)(Chief Information Officers)
November 3, 2008... Byline: John Morgan LAS VEGAS -As companies pare back their operational budgets and look for ways to trim costs, chief information officers are being challenged to make their IT departments do far more with much less. "We are going to...

In Face of Volatility, Fund Firms Need to Provide Holistic Advice.(News)
November 3, 2008... Byline: BLee Barney The question everyone is asking, not just shell-shocked investors, but financial advisers and economists as well, is how low can the Dow Jones Industrial Average go? And the answer is, very, very low. Some pessimists...

Fragmented Liquidity Hurting Marketplace.(News)
November 3, 2008... Byline: John Morgan NEW YORK-The fragmented, free-for-all liquidity in the marketplace is aggravating the extreme volatility in the stock market, and experts say a more organized, specialized system is needed. "We are going through a...

Week In Review.(Week In Review)
November 3, 2008... Byline: Editorial Staff 4,000 Could Lose Jobs at Fidelity Fidelity Investments might lay off as much as 9%, or 4,000, of its 44,500 global workforce by early next year. That would be a considerable cut, on top of 1,000 who have been...

Rydex Advisor Confidence Index Down 14 Percent.(At Deadline)
November 3, 2008... Byline: Matt Ackermann, American Banker Adviser confidence in the economy and stock market sank this month for the second consecutive month, according to Rydex AdvisorBenchmarking, a division of Rydex Investments. The Advisor...

Executive Moves.(Executive Moves)
November 3, 2008... Byline: Editorial Staff Prudential Arm Hires Structured Exec Bonesteel Prudential Financial's fixed-income asset management unit has hired Sara Bonesteel as the head of the structured asset management group. She was a senior managing...

Guaranteed Income Gains New Respect as Boomers Begin to Retire, Markets Tumble; In Pursuit of the Perfect Default Option.(News)
November 10, 2008... Byline: John Morgan PALM BEACH, Fla.-Insurance companies and mutual fund firms are jumping on the bandwagon to provide guaranteed retirement income solutions, but experts say these types of investment options won't see wide adoption rates...

Getting Investors Back Into Equity Markets Raises Rollover Stakes; Better Defaults, Movement from Cash Could Energize Retirement Income.(News)
November 10, 2008... Byline: John Morgan PALM BEACH, Fla.-Capturing 401(k) rollovers has been top of mind for mutual fund companies for years. Now, with billions of dollars flowing out of equity funds, $682 billion in September alone, mostly into cash,...

End to Short Sale Ban Lifting Managers' Spirits.(News)
November 10, 2008... Byline: Alan Lavine Long-short money managers have been breathing a sigh of relief with the end to the Securities and Exchange Commission's ban on short sales of financial stocks. The three-week SEC ban on the short sale of some 1,000...

Fidelity to Eliminate 1,300 In First Job Cut Wave.(News Flash)
November 10, 2008... Byline: Editorial Staff Indicating that it is the first of at least two job cut waves to come, Fidelity Investments announced Thursday it will eliminate 2.9% of its 44,400 workforce, or 1,300 positions, by the end of the month. A second...

Reserve Primary Fund Begins Distributions.(News Flash)(Reserve Financial Management Corp.)(Brief article)
November 10, 2008... Byline: Editorial Staff Reserve Funds has begun making distributions to shareholders of its Primary Fund at an initial rate of 50 cents on the dollar, and its president said the company plans to pay the rest soon. The company is...

Direxion Offers ETFs With 300% Leverage.(News Flash)
November 10, 2008... Byline: Editorial Staff Direxion Funds hopes that with credit tight, eight 300% leveraged exchange-traded funds it is offering, both on the long and the short side, will resonate with investors. However, while the funds could deliver...

Week In Review.(Week In Review)
November 10, 2008... Byline: Editorial Staff ICI Forms Money Fund Working Group The Investment Company Institute is forming a money market mutual fund working group, to be chaired by Vanguard Chairman John Brennan. Senior executives from BlackRock,...

Obama to Seek Stimulus.(At Deadline)(Brief article)
November 10, 2008... Byline: WebCPA.com President-elect Barack Obama is expected to begin working on passing an economic stimulus package even before he takes office. Congress will begin a lame-duck session later this month in which it is expected to...

Executive Moves.(Executive Moves)
November 10, 2008... Byline: Editorial Staff Curian Hires Ramsier as Divisional VP for the West Curian Capital has hired Kevin Ramsier as divisional vice president for the West region. Ramsier will manage a team of Curian's regional business...

Blogs, Wikis Increase Fund Firms' Collaboration.(News)
November 17, 2008... Byline: John Morgan LAS VEGAS-A recession may seem like an odd time for a renaissance in technology, but the need to cost-effectively share information and brainstorm for solutions has never been greater. As cash-strapped companies...

Fund Firms Search for Holistic Customer Management Programs.(News)
November 17, 2008... Byline: John Morgan LAS VEGAS-Lately, fund marketing and technology executives feel as if they have been bombarded with a barrage of data from their customer relationship management (CRM) systems, but their biggest challenge is finding...

Reassess Marketing, Pitch Positive Stories; NICSA Webinar Examines Cost-Effective, Convincing Communications in Midst of Ongoing Financial Crisis.(News)
November 17, 2008... Byline: Lee Barney With investors moving so much money into cash and cash-equivalent instruments to avoid the continually downward spiraling stock market, it has never been more important in the history of modern investing for mutual fund...

Hedge Execs Advocate Credit Default Exchanges.(News Flash)
November 17, 2008... Byline: Editorial Staff Testifying before the House Oversight and Government Reform Committee last Thursday on the role of hedge funds in the credit crisis, five prominent hedge fund executives said they would be in favor of establishing a...

Week in Review.(Week In Review)
November 17, 2008... Byline: Editorial Staff Federal Reserve Delays Purchases of Money Funds' Short-Term Debt Money market mutual fund managers holding onto short-term debt they are unable to unload into the market will have to continue to hold on tight,...

At Deadline.(At Deadline)
November 17, 2008... Byline: Editorial Staff European Funds Suffer Worst Outflows in Sept. A record $156.5 billion was withdrawn from mutual funds in Europe, according to the Lipper FMI report. All asset classes suffered net withdrawals. Around the...

Executive Moves.(Executive Moves)
November 17, 2008... Byline: Editorial Staff Bank of New York Mellon Division Hires Murphy Ivy Asset Management, Bank of New York Mellon's global hedge funds-of-funds unit, has hired Robert Murphy as director of its investment strategies group. In the...

Crisis in Communications: Marketing Follows the Market.(Sales & Marketing)
November 17, 2008... Byline: Charlie O'Neill Principal, Diversified Management Resources All it takes is an historic "adjustment" in the financial markets to remind marketing directors how vulnerable their departments and budgets can be. As revenues drop,...

SEC Approves Summary Prospectus Short-form Rule will be Mandatory by End of 2010.(News)
November 24, 2008... Byline: John Morgan In a widely anticipated move last week, the Securities and Exchange Commission unanimously approved a requirement for mutual funds to send investors a short-form, summary prospectus. "The summary prospectus will...

Shifting to an Age of Smaller Profits: Bogle.(News)(Interview)
November 24, 2008... Byline: Aleksandrs Rozens, investment Dealers' Digest If investors have learned one thing from the financial crisis, it is that, eventually, level heads and long-term investing will prevail. In that spirit, sister publication Investment...

Distributors Brace For Tough 2009 Fund; Firms Should Plan for More Consolidation, Regulations, Squeeze on Profit Margins.(News)
November 24, 2008... Byline: John Morgan The financial turmoil in the markets is far from over, and mutual fund firms can expect assets to continue to decline further, investors to remain skittish, and regulators to be reactive well into 2009, experts say. ...

Working With Investors In a Scared New World.(Editor's Letter)
November 24, 2008... Byline: Lee Barney Talk about market capitulation. What we are witnessing is wholesale investor capitulation. If the onslaught of bad economic news has one bright spot, it's that it will have a lasting and significant impact on the...

Week In Review.(Week In Review)
November 24, 2008... Byline: Editorial Staff EU to Propose Hedge Fund, Private Equity Regs The European Union, which has not been in favor of new rules and capital requirements for hedge funds and private equity, will propose such regulations next month to...

Putnam Investments Restructures Equity Unit.(At Deadline)
November 24, 2008... Byline: Editorial Staff Stressing that the reorganization is not motivated by the financial crisis but a strong desire to improve accountability and, with that, performance, Putnam Investments Chief Executive Officer Robert Reynolds...

Executive Moves.(Executive Moves)
November 24, 2008... Byline: Editorial Staff Monagle to Assist Reserve As Liquidation Adviser Reserve Funds has hired Joseph T. Monagle, Jr. to help sell positions in today's difficult debt and credit markets. Monagle was formerly a senior asset...