Portfolio

Aquila Management Corp. of New York, adviser to the Aquila Group of Funds, has created two new equity funds with economist Arthur B. Laffer.

NEW YORK - Even though exchange-traded funds are among the largest 10 index funds in each major asset class and make up 10 percent of all index funds, fund companies are wary of offering the product, according to one industry executive.

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.