Money Management Executive articles from September 2008

Money Management Executive archives from September 2008

Fund Companies Should Rethink Retirement: Schwab Study Finds Attitudes Change as Investors Grow Older.
September 15, 2008... Byline: John Morgan Americans have changing needs for retirement products as they grow older, and mutual fund companies that recognize and respect the differences between the age groups can be much more effective. Charles Schwab...

Tool Navigates Sea of Target-Date Funds: Wide Range of Similar Products Can Make Advisers, Investors Dizzy.
September 15, 2008... Byline: John Morgan Target-date funds, also known as lifecycle funds, are rapidly rising in 401(k) plans as the favorite qualified default investment alternative because they're much more appropriate than the traditional money market fund...

Cox: SEC to Propose New Disclosure Rules On Municipal Bonds.
September 15, 2008... Byline: Andrew Ackerman, The Bond Buyer The Securities and Exchange Commission plans to propose as early as the end of the month rules that would enhance municipal disclosure, SEC Chairman Christopher Cox said in an interview. The...

4Q08 Hiring Plans at Funds Weakest in 16 Years.(At Deadline)(Brief article)
September 15, 2008... Byline: Kevin Dobbs, American Banker Financial services, insurance, and real estate businessesA- hiring plans for the fourth quarter are the weakest they have been in 16 years, a survey by Manpower found. The survey predicts that...

Executive Moves.(Executive Moves)
September 15, 2008... Byline: Editorial Staff Legg Mason Taps Odenath To Head Up the Americas David R. Odenath has joined Legg Mason as head of North and South American operations, reporting to Chief Executive Officer and President Mark R. Fetting....

Week In Review.(Week In Review)
September 15, 2008... Byline: Editorial Staff Edward Jones to Pay $7.5M for Revenue Sharing Edward Jones will pay $7.5 million to California to settle claims that it failed to disclose its revenue-sharing policies to investors. Although it earlier denied...

New Investor Privacy Regs: What Fund Execs Need to Know.(Ops & Tech)
September 15, 2008... Byline: Editorial Staff Kevin W. O'Connell, Principal, PricewaterhouseCoopers LLP Identity theft, data loss and other privacy violations are among the leading threats faced by financial institutions. Depending on their nature, they can...

Funds Face Tax and Accounting Challenges Move to International Standards Could Shake Up Current Efforts.
September 22, 2008... Byline: John Morgan CHICAGO-In the coming weeks and months, financial officials and members of Congress will be scrambling to revisit a spate of sunsetting tax and accounting laws before the new presidential administration and Congress...

International Accounting Standards Increase Equity Values, Liquidity.
September 22, 2008... Byline: Alan Lavine Expect a pop in equity valuations, increased liquidity and lower trading costs as U.S. and foreign corporations list stocks using International Financial Reporting Standards (IFRS). That's according to a working paper...

Run on Reserve Fund As NAV Breaks Buck: Other Money Market Funds Holding Steady in Fallout From Lehman Bankruptcy, Credit Crisis-So Far.
September 22, 2008... Byline: Lee Barney Investors began a run on The Reserve's Primary Fund last Monday when Lehman's bankruptcy news made them fearful about the money market funds' $785 million exposure to the investment bank's previously blue-chip commercial...

Fidelity Reaches ARS Deal To Buy Back $300M.(News Flash)
September 22, 2008... Byline: Patrick Temple-West, The Bond Buyer Fidelity Investments reached agreements with New York and Massachusetts officials to buy back at par $300 million of auction-rate securities from its customers by the end of the year, becoming the...

Shareholders Sue Reserve Over Primary Fund Failure.(At Deadline)
September 22, 2008... Byline: Editorial Staff Shareholders filed a lawsuit in U.S. District Court in Manhattan against Reserve Funds' Primary Fund for halting redemption of holdings of $10,000 or more on Tuesday due to the fund falling to 97 cents on the...

Executive Moves.(Executive Moves)
September 22, 2008... Byline: Editorial Staff FRC Founder Bathon Forms New Company Neil Bathon, who founded Financial Research Corp. in 1987, has now formed a new investment management research firm, FUSE Research Network. Bathon said the information he...

Week in Review.(Week in Review)
September 22, 2008... Byline: Editorial Staff Former Prudential Broker Pleads Guilty to Timing Justin F. Ficken, a former broker with Prudential Securities, pled guilty before U.S. District Judge Patti B. Saris last Monday to deceptively market timing...

Firms Turn Spotlight on Risk Management: As Funds Shore Up Leverage, Attention Turns to Portfolio Managers, Senior Execs.
September 29, 2008... Byline: John Morgan CHICAGO - It often takes an economic crisis before firms really start thinking about risk management. Theoretically, if risk management teams had done their homework, current market fluctuations and the subsequent...

Independent RIAs Lead Retirement Income Race.
September 29, 2008... Byline: Lee Barney NEW YORK-Fee-based independent advisers, so far, are winning the retirement income race, beating out mutual fund companies, brokerages and insurance firms in the quest to conquer the 77 million Baby Boomers' estimated...

Run on Money Funds Ends, But Investors Shift From Prime to Treasuries: Safety Trumps Yields.
September 29, 2008... Byline: Lee Barney Investors poured $19.64 billion into money market funds Wednesday, $26.2 billion Tuesday and $1.5 billion Monday, after yanking $186.6 billion, or 6.1%, out of money marA[logical not]ket funds the five business days...

Extraordinary Cooperation Puts End to Run on Funds.(News Flash)
September 29, 2008... Byline: Lee Barney In the face of the nation's financial crisis, our industry has shown tremendous cooperation and fortitude, and we have its top leaders and trade association to especially thank for the sound direction they have so...

Baby Boomer Retirements May Create Labor Crunch.(At Deadline)
September 29, 2008... Byline: Editorial Staff The labor supply may experience shortages in coming years as more Baby Boomers retire, according to a study by KPMG. The firm found there is a lack of Generation Y workers to replace those who are expected to retire...

Executive Moves.(Executive Moves)
September 29, 2008... Byline: Editorial Staff Putnam's Investment Chief Cronin Stepping Down Kevin Cronin, head of investments at Putnam Investments for the past three years, tendered his resignation, effective Oct 1, for personal reasons, the firm said....

Week in review.(Week in Review)(Reserve Funds' Primary Fund)
September 29, 2008... Byline: Editorial Staff TD Ameritrade Supports Primary Fund With $50M TD Ameritrade announced Wednesday that it will kick in an additional $50 million to support investors in Reserve Funds' Primary Fund, whose net asset value fell to...