Portfolio

ING Funds Trust of Philadelphia, Pa., made its ING Internet Fund available to the public on July 6. But already, the fund company is talking about closing the fund.

INVESCO Funds Group of Denver, Colo., has opened two money market funds, originally intended only for institutional investors, to the retail market. These are the INVESCO Treasurer's Money Market Reserve Fund and the INVESCO Treasurer's Tax Exempt Reserve Fund.

Mackenzie Investment Management, a mutual fund investment adviser in Boca Raton, Fla., has launched a new family of five international funds of funds. Mackenzie calls this fund family International Solutions.

Berger Funds of Denver, Colo., has renamed its InformationTech 100 Fund the Berger Information Technology Fund. The fund will invest in companies offering hardware, software, networking and communications. This fund invests with a longer investment horizon than other technology funds, the company said in a statement.

The San Francisco investment bank of Hambrecht & Quist, known for taking companies public, is banking on that same line of business with its first open-end mutual fund.

A State Street Research mutual fund that is designed for professional athletes and their coaches and families has grown significantly since it opened last year.

Three former executives of PanAgora Asset Management of Boston have formed a new fund company, Arrowstreet Capital LP, which will open next month in Cambridge, Mass. Bruce Clark, Peter Rathjens and John Campbell, all formerly of PanAgora, will hold a majority stake in their new company.

TransNations Investments LLC of New York last week said it has begun offering shares of the Amidex35 mutual fund. The fund invests in companies in the newly-formed Amidex35 Index. The index includes selected stocks listed on the Tel Aviv Stock Exchange and Israeli companies listed on major U.S. exchanges. The Amidex35 fund has no sales charge and TransNations intends to use the Internet as the primary channel for retail sales.

Payden & Rygel of Los Angeles launched a new fund, the California Municipal Income Fund, on June 15. The fund invests in a diversified portfolio of debt securities that pay interest and dividend income exempt from California state and federal taxes.

T. Rowe Price of Baltimore, Md. is using Extranet technology to provide administrative services and reporting for its 1,000 401(k) plan sponsors.