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 |
|
Friday, December 10, 1999 Odd Lots, December 10, 1999 Janus hires European sales director From The Wall Street Journal Janus's international division has hired a sales director from Fidelity Investments Services of London. In the past 12 months Janus International has grown from just one employee to a dozen. Janus is also expected to announce the appointment of Andreas Morsch as regional sales director for Germany, Austria and German-speaking Switzerland. Morsch, 30, will be responsible for increasing the distribution of Janus International's products throughout German-speaking Europe. Before joining Janus, Morsch was a vice president with Fidelity in Frankfurt. Janus International raised $1.5 billion in total assets in the past year from both retail and institutional investors. Much of the money has been raised by Janus World Funds PLC, a range of Ireland-based funds, launched in December 1998. Fallen funds shine again From The Wall Street Journal A bunch of fallen funds and their once-star managers have dusted themselves off, all delivering market-beating returns. Among the stars who are shining once again are many who focus on fast-growing small-cap and mid-cap stocks: Garrett Van Wagoner of Van Wagoner Funds; Foster Friess of Brandywine Fund; Christopher Boyd and John Seitzer of American Century Giftrust; and Julian Cook and his team, overseers of Govett Smaller Companies Fund. The comeback kids underscore the recent turn in the stock market. Last year, barely a handful of fast-growing large companies were popular, driving the market to its record highs. Hancock is given the nod From The Boston Globe State regulators gave an expected nod to John Hancock Mutual Life Insurance Co.'s plan to go public, removing the last hurdle facing the Boston insurer as it prepares to issue first-time stock next month. The approval by the Massachusetts Division of Insurance came as the agency rejected criticisms from a small group of consumer advocates and policyholders who are upset about Hancock's complex plan. Funds invested in Tyco sweat it out From The Boston Herald Many big-time fund managers who hold large investments in Tyco International Ltd. in their funds are sweating it out. Yesterday, many were riding the whirl-wind while the stock dropped down 23% to $28. Tyco, the world's biggest maker of electronic connectors, which made more than $30 billion in acquisitions in the last three years, said Thursday that the SEC is conducting an informal inquiry into its accounting practices. Managers at Fidelity, Janus, MFS and Putnam, to name just a handful, were sitting on millions of shares of Tyco. Even if nothing is found it could be a while before investors in funds like Fidelity's Magellan, Janus, MFS's Massachusetts Investors Growth and Putnam's Voyager see Tyco's shares come back. Internet fund gets five stars From TheStreet.com How does a fund with high risk, untested management get a Morningstar five-star rating? Maybe the Internet Fund knows. The fund tracker just awarded its highest rating to the $825 million fund, even while cautioning that investors should think long and hard before diving in. The star rating is known for highlighting solid funds, but it also favors hot fund categories. And tech is as hot as it gets. The average science and technology fund has gained 94% in 1999, according to Lipper. So it comes as no surprise that the average fund in Morningstar's technology category sports five stars for the latest three-year period. Amerindo Technology, a Net fund that's known as one of the riskiest around, also got a five-star rating this year. Printed from: MFWire.com/story.asp?s=25268 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |