Portfolio

Are mutual fund firms that develop managed account products competing with themselves? Yes and no, according to industry executives.

Hartford Life of Hartford, Conn., is expanding its 401(k) small-business operations, a niche that has been largely ignored by many other retirement savings plan providers. So far, the strategy has worked for Hartford Life. It expanded its 401(k) business by 55% in 2001, with sales of $850 million.

Touchstone Securities announced last week that Patrick Bannigan has joined the firm as senior vice president and officer in charge of Touchstone Investments. In that role, he will be responsible for the sales and profitability of the Touchstone Funds, including the firm's variable annuities.

Rydex Funds has launched a sector rotation fund into the teeth of a market still skeptical about sector funds after the carnage of the past two years.

Mutual fund and alternative investment advisors alike have been racing to attract wealthy clients with a rash of new hedge funds over the past year.

Lawmakers in the House and Senate last week reviewed two 401(k) reform bills that now include provisions designed to make it easier for investors to get advice about their retirement plans.

Morningstar's plan to rate managed accounts much the way it ranks mutual funds has drawn concern from an industry lobby group.

If imitation is the sincerest form of flattery, American Funds has a lot to be proud of. An innovative 529 plan it launched with the State of Virginia last Friday has caused at least two other investment managers to revamp their own college savings plans, according to industry executives.

The financial collapse of Enron, and reports that the firm's workers lost millions in their retirement plans when the company declared bankruptcy, has spawned a spate of recent legislative measures designed to protect 401(k) investors. But many of the initiatives are facing criticism from industry officials who say that lawmakers should be cautious in reacting to the Enron debacle.

As Franklin Templeton's director of defined contribution services, Dan Reinhold never thought he would find himself working at, of all things, an automobile industry conference.