Putnam Books Surging Sales
From Boston Globe
Putnam is a see of prosperity in a tough market for funds. The Boston-based firm saw net new sales grow to $14.6 billion this year through August from $4 billion last year, according to Financial Research Corporation. The only fund firm with higher sales was Janus Capital with $37.8 billion in net sales through August. Putnam chief Larry Lasser credits outstanding investment performance in 1999 for 2000's sales. "It's as simple as that," he is quoted as saying. He added that 11 different Putnam funds have net sales of $1 billion or more so far this year.

Vanguard's Harvesting Index Losses is a Winner
From Washington Post
Six years ago Vanguard made the decision to track the cost basis of the lots of shares it purchased for its Index funds and to harvest capital losses based on that info. That decision is now paying off. The article explains how Vanguard's Index 500 fund was able to realize a capital loss for 2000 even after the $105 billion fund was hit with "modest though regular redemptions" last spring. The tax management allowed the fund to realize a loss of 40 to 50 cents a share and build a tax shield against future gains.

Fund OutFlows Spike
From Los Angeles Times
M Last week was a rough one for fund firms, according to TrimTabs.com. The Santa Rosa-based firm estimates that domestic stock funds saw $12.15 billion more go out the door than come in last week. The outflow is the largest one-week outflow since 1996 when the firm began estimating flows. The climax to the selling occurred on Thursday as the Dow plunged nearly 400 points.

Fidelity Estimates Large Distributions
From Boston Globe
Fidelity Investments' is joining the list of fund firms making large capital gains distributions. Funds with large distributions are: Japan Smaller Companies, Japan fund, Capital Appreciation, and Select Developing Communications.

Fidelity to Help Financial Advisors Tap Rollovers
From Boston Herald
Fidelity Investments will help financial advisors tap into the $200 billion retirement plan rollover market. The Boston Behemoth has developed a free Web-based program for advisors yesterday that provides free research, planning and marketing strategies, news and updates on legislation and other issues affecting people about to retire.

Two Winning B2B Funds
From Investors Business Daily
The word may now be "dot-bomb" rather than "dot-com" but that is not preventing Amerindo Investment Advisors and Turner Investment Partners from opening successful new funds investing in the "business-to-business" (B2B) Internet sector. The Turner B2B E-Commerce Mutual Fund is up more than 25% since its July launch. The Amerindo Internet B2B Fund is up 71% since it opening in May.

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