Like its European counterpart, the Hong Kong mutual fund industry is having to adapt to the implementation of the UCITS III Directive by the member states of the European Union in the first half of this year. It is estimated
Marsh & McLennan has agreed to pay $850 million to settle charges it conspired with insurers to rig bids. The settlement sent Marsh shares up 4.5 percent, by ending a battle with New York Attorney General Eliot Spitzer, who accused
BISYS has expanded its retirement planning tools to include a retirement education and communications programme. The new program, U Singles, aims to help increase 401(k) plan enrollments and deferral rates, encourage diversified asset allocation, and motivate plan participants to take
UK retail fund managers Lloyd George Mangement have joined the EMX Message System. According to the company, the decision followed "encouragement" from their distributors. "A number of our intermediaries have encouraged our entry onto the EMX platform and we are
The U.S. Securities and Exchange Commission (SEC) is looking into a possible civil injunction and or administrative proceedings against Citigroup Asset Management, Citicorp Trust Bank, former asset management unit Chief Executive Thomas Jones and three other people. Citigroup said the
Investors would still opt for fixed income over equities, according to research from UK fund house New Star Asset Management. The research, conducted in association with NMG research, surveyed 641 seasoned investors as to what fund they would choose if
Ukrainian experts are painting varied pictures of the state of the country's fund markets. Yet, while operators cite considerable growth on one hand, officials are pointing at the need to make changes in legislature to provide a portfolio investor friendly
Nearly half of all US households 92 million Americans own mutual funds, and they are worth nearly $8 trillion, says a report from the Investment Company Institute (ICI), the national organisation of the US mutual fund industry. As of November
The Bank of New York has been awarded Montpelier Re's stock transfer business. This appointment expands the Bank's existing relationship with Montpelier, which includes acting as custodian and securities lending agent. "Whereas many companies are exiting the stock transfer business,
Wrap platforms provide a golden opportunity for UK IFAs to transform the value of their businesses, according to Abacus director David Ferguson. Ferguson says wraps will enable IFAs to gain appropriate value for their efforts of the past 20 years