Seeing millions paid for domain names like business.com ($5 million) and loans.com ($3 million),
Nvest Companies is leveraging the valuable
mutualfunds.com domain to launch a new company, run by the ex-president of the former
New England Funds (now
Nvest Funds),
Bruce Speca.
Speca left his position as president of New England Funds late last year, replaced by
John Hailer who was promoted from executive vice president, in order to serve as president and CEO of the new company, presumably named MutualFunds.com or something similar. A source close to the company said that the new site will act as a clearinghouse of fund information, for the broader universe of funds beyond the Nvest-affiliated products, with revenue generated from both subscriptions and advertising. Word is that the new site will launch March 1, 2000.
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