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 18, 2001 Schwab Sells Trust Unit Merrill Lynch's earning first quarter net earnings were $874 million or $1.04 per share, 21% lower than in the first quarter of 2000 and flat from the fourth quarter. Separately, Fund Action reported that Merrill may be putting its Hotchkiss & Wiley investment management unit on the block. * * * Schwab has agreed to sell the corporate trust business of its US Trust unit to the Bank of New York. The deal is set to close in the second quarter. Terms were not disclosed. Schwab will recognize a $220 million pre-tax gain as a result of the sale. * * * Dreyfus has tapped Fayez Sarofim as subadvisor on one of two new funds filed with the SEC. The manager will subadvise Dreyfus Premier Select Growth Fund, a focused fund investing in 20-30 blue chip stocks. The second fund is Dreyfus Health Care Fund. Printed from: MFWire.com/story.asp?s=26512 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |