Merrill lures quant team from Deutsche Bank
From The Wall Street Journal
Merrill Lynch has hired an investment team specializing in quantitative and index investment away from Deutsche Bank. The team, led by Frank Salerno, 39, will form the core of a unit Merrill is creating, called Merrill Lynch Quantitative Advisors. It will be headed by Dean D'Onofrio, who left Bankers Trust two years ago to build Merrill's stock-derivatives desk. Only about $6 billion of Merrill's $500 billion in assets under management is in quantitatively invested funds and index funds, compared to over $200 million at Deutsche Bank.

Vanguard S&P 500 inches closer to Magellan
From The Los Angeles Times
Vanguard's flagship S&P 500 Index Fund has moved to within $5 billion of the Fidelity Magellan Fund. As of Wednesday last week, Vanguard had $92.7 billion in assets under management in its biggest fund and Fidelity's Magellan had $97.6 billion.  

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