Portfolio

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.

The Vanguard Group of Malvern, Pa. has filed registration statements with the SEC to introduce two new international index funds and to add an institutional share class for three existing international index funds, the company announced last week.

Capitalizing on recent market volatility, Putnam Investments of Boston started offering insurance on all of its funds Feb. 1, becoming the first independent fund company to offer this type of product.