Portfolio

Putnam Investments of Boston is considering creating a new type of cloned fund sensitive to capital gains taxes, said Gordon Forrester, managing director at Putnam.

Janus of Denver, Colo. is creating a new line of funds to expand its sales through plan sponsors, broker/dealer wrap programs and bank trust departments.

OppenheimerFunds of New York is planning to offer a new technology fund.

The Managers International Equity Fund has hired a third manager to sub-advise a portion of the $675 million fund.

Within the next year, the mutual fund industry can expect to see a new share class attached to some equity funds that allows them to be traded throughout the day and includes features common to exchange-traded funds, according to executives in the mutual fund industry.

NEW YORK - Amerindo Investment Advisors of New York plans to launch two new technology-related mutual funds, as well as a clone of its flagship Amerindo Technology Fund.

More than one-third of people who invest in IRAs, plan to use them as investment vehicles to bequeath money to their children or other heirs, according to a survey by American Skandia Life Assurance of Shelton, Conn.

Mutual fund companies providing 401(k)'s or other types of defined contribution plans may be in for a rash of lawsuits foiled by unhappy 401(k) investors, say industry executives and consultants.

There is a new player in the socially-responsible mutual fund arena. Friends Ivory & Sime, best known as an institutional global money manager based in London, has launched two new no-load socially responsible funds.

T. Rowe Price of Baltimore, Md. recently filed with the SEC to offer a new class of shares in an effort to improve distribution of ten funds to variable annuities, defined contribution plans and wrap programs, according to a company spokesperson. The new shares will include a 12b-1 fee of 25 basis points.