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, April 14, 2000 Odd Lots, April 14, 2000 Fidelity managers shuffled From The Wall Street Journal Brad Lewis is leaving Fidelity, where he has been doing the work of three men. Steven Snider is taking his place at the head of the Disciplined Equity fund; Bobby Kuo is taking over the Stock Selector unit; and Bart Grenier will become lead portfolio manager for two VIP Asset Manager portfolios. Grenier will also manage for the company's VIP II Asset Manager and VIP II Asset Manager Growth portfolios, succeeding Richard C. Habermann, who will continue to manage asset allocation and global equity funds. The death of dividends From The Los Angeles Times Even with the resurgence in "old economy" stocks, dividends are going the way of the dinosaur. American Century wants to drop a rule that forces two of its mutual funds to invest 80% of assets in companies that pay regular dividends. The number of such stocks is dropping, making it harder for managers to find good investments. Shareholders are expected to get proxy materials at the end of April, with a special meeting set for June 16. If approved, the policy will take effect June 19. Scudder playing with emerging growth From Morningstar After posting the year's worst showing in the diversified emerging-markets category, Scudder Kemper is shaking up the Emerging Markets Growth fund and tweaking the fund's investment strategy. Jennifer Bloomfield and Mehdi Dazi are replacing Joyce Cornell at the helm. The change in investment strategy (a change in regional allocation) is surprising because no corresponding change is being made to its former clone, Scudder Emerging Markets Growth. Scudder Kemper funds are primarily load-bearing funds that were clones of existing Scudder no-load funds. While many load and no-load funds remain clones of each other, a distinction now exists in the emerging-market growth field, creating a potential source of confusion for investors. Printed from: MFWire.com/story.asp?s=25650 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |