MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, April 21, 1999 Odd Lots, April 21, 1999 Goldman Considered Buying Fidelity From Fortune Goldman Sachs debated buying Fidelity Investments, but ruled the purchase out after deciding that the price tag would be too steep. Goldman sources told Fortune that it was "daunted by Fidelity's size and the price it would have to pay." This would also put Janus and its $108 billion in assets out of reach, the magazine concludes. Goldman manages $57 billion in funds. Other targets named in the magazine include Capital Research and Management and T. Rowe Price. Funds Pass Y2K Test From USA Today A six week test on mutual funds' systems ability to operate after January 1, 2000 is going well according to the Securities Industry Association. The association successfully processed trades dated after the now infamous date. Detailed results will be released on April 29. Lindner Restructures From The Wall Street Journal St Louis-based Lindner Funds is restructuring its investment team and some of its operations, the WSJ reports. Lindner's new investment team includes Chairman Doug Valassis; newly appointed vice chairman and chief operating officer Mark Finn; and President Eric Ryback. Jeffrey Fotta, vice president and director of research, will take over some research and trading operations in Boston. The paper also reports on the fallout of the shift in the market from technology to value over the past two weeks. The big winner has been the just re-opened Vanguard Windsor. Among the losers is the now-closed Janus Twenty. O'Neill Has Edge at BankBoston From USA Today Fleet Bank's Tom O'Neill has the edge over BankBoston's Ned Riley for the merged bank's chief investment officer position, according to the Boston Herald. The paper notes that Fleet's Galaxy funds have a stronger record than BankBoston's 1784 funds and that Fleet's investment group is the bigger of the two, with $86 billion of assets. Citi, Mellon to Split From American Banker Citibank announced a three-for-two stock split. Mellon Bank will split its stock two-for-one. Funds in the News SmartMoney provides another look at how fund managers are responding to Monday's events. Included in the article are Strong Enterprise, Munder NetNet, Monument Internet Fund, Merrill Lynch Technology, and Crabbe Huson Equity. Morningstar.net's Fund Spy column makes the case for why intermediaries are worth their pay for a certain segment of investors. The four Internet funds are the subject of a profile at Microsoft Investor. Printed from: MFWire.com/story.asp?s=24782 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |