Bloomberg reports that Luxembourg has displaced France as the second largest country for domiciled mutual funds. Research consultant Fitzrovia International reports that in 1999, Luxembourg's assets grew 92% to $747 billion, with UBS AG and Credit Suisse, respectively, the biggest fund firms in Luxembourg, with assets of $85 billion and $43.7 billion.

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Netstock Direct Corp. has raised $30 million in its third round of financing, led by Madrona Capital of Seattle. Other participants in this round include SAFECO, Wells Fargo, The Goldman Sachs Group, and Liberty Financial. Previous investors who also participated in the round include GE Financial and Bowne & Company. Netstock Direct offers access, information, as well as online enrollment and transactions in direct stock plans and mutual funds.

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TD Waterhouse has announced an alliance with MetaMarkets.com, the online investor "community" and creators of the OpenFund. The firms have developed a co-branded version of MetaMarkets's service, called the "TD Waterhouse Community" which will feature discussion boards on stocks and other investments, as well as original content from MetaMarkets editorial staff and the MetaMarkets Think Tank. Waterhouse users will have real-time access to OpenFund's trading activity. In addition, OpenFund has been added to Waterhouse's NTF supermarket. 

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