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, November 15, 2000 November 15, 2000 OppFunds Plans SubAdvised Family From TheStreet.com OppenheimerFunds is readying a new aggressive family of six sub-advised funds for a January rollout. The new family is dubbed Oppenheimer Select Managers Series. Advisors to the funds will include Jennison Associates, Gartmore, Mercury and Salomon Smith Barney. Two of the funds will be sold only to retirement plans. Fund Managers Become Team Players From Investor's Business Daily Fund firms are now more than twice as likely to credit a team with a fund's portfolio management than an individual as before. This year, roughly 40 percent of funds are team managed, up from 21 percent in 1977, according to Wiesenberger/Thomson Financial. "Times have changed, and Vanguard has changed with the times," Vanguard spokesperson John Demming is quoted as saying. The article credits four advantages for team-managed funds: a division of investment responsibilities across sectors market, protection from negative media attention when a manager abruptly quits, a team spirit that rewards shareholders, more fluidity as funds grow larger. Dresdner Open Ends Fund From Wall Street Journal Dresdner RCM Global Strategic Income Fund is going open-end. A nonbinding proposal to convert the fund from a closed-end structure garnered a "significant majority" of votes at a shareholder meeting late last month, the report quotes one fund director. The fund had been trading with as much as a 20 percent discount to NAV. After the conversion was proposed the discount narrowed to about 5.4 percent. Investor's On Advice From Wall Street Journal Who are the players in online 401(k) advice? This article provides a good overview of the playing field from the investor's perspective. What are users complaints? Information listed from among only the plan's fund managers. The article also contains a claim from Fidelity that one-third of its sponsor clients offer Portfolio Planner and 1.8 million of 2.5 million investors use it. Meanwhile, 3,000 use Standard & Poor's Retirement Advisor. mPower is quoted as declining to provide its user base. Monument Plans Genomics Fund From TheStreet.com Monument Funds, one of the early adopters of Internet investing is jumping on the next wave with a new genomics fund. This will be the second fund investing with this mandate offered by the industry. The other is the no-load GenomicsFund.com, which launched in March and over the last three months the fund is down 7.7 percent. Printed from: MFWire.com/story.asp?s=26226 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |