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 |
|
Tuesday, April 17, 2001 Nations Adds Funds John Nuveen netted $28 million on $3.8 billion in sales in the first quarter. Nuveen's assets under management slipped to $61.3 billion at the end of the first quarter, compared to $62.0 billion at year-end 2000 and $60.0 billion as of March 31, 2000, as net equity and fixed-income sales and slight increases in fixed-income asset values offset declining equity valuations. * * * SEI met expected earnings of $0.25 per share, with net income jumping 42% to $28 million in the first quarter. Results relied on the operating margins for mutual fund services, which increased from 18% to 23% last year, and asset management operating margins, which increased from 28% to 38%. Firm officials also pointed to the large share of fixed income assets held by clients which helped insulate it from effects of the capital markets downturn. * * * Prudential bumped John L. Carter up the corporate ladder, announcing his promotion to executive vice president of national sales. Carter will oversee the distribution of Pru's mutual funds, VA's, and managed acccounts. * * * Nations Funds has upped the number of value funds in its lineup by two. Brandes Investment Partners will subadvise both Nations Classic Value Fund and Nations Global Value Fund. The bank fund family now consist of 72 funds. * * * Manulife Financial created the National Accounts Department to provide product and service information on insurance products to B/D home offices. The move on the financial intermediary channel funnels all communication through one office. Printed from: MFWire.com/story.asp?s=26686 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |