Portfolio

Like Frankenstein and his monster, RREEF America of Chicago is bringing a mutual fund back to life. The money manager is bringing out a twin of one of its old real estate funds even though it merged a similar fund with American Century Investments of Kansas City, Mo. two years ago.

Money managers, mostly small ones, have been registering Internet fund products with the SEC at a rapid rate.

Charles Schwab & Co. of San Francisco is offering investors a means of participating in some of the potentially high returns of Internet stocks while taking little risk. Schwab is offering two equity-linked certificates of deposit that are federally insured. One of the new CDs has a maturity value linked to the return of the Chicago Board Options Exchange Internet index, said Leslie L. Durschinger, Schwab vice president. The other CD's maturity value is linked to the return of the S&P 500, Durschinger said.

The City of New York's 457 deferred compensation plan, which has $250 million in assets under management, in November will begin offering employees a separate account managed by Citizens Advisers of Portsmouth, N.H. Citizens is the investment adviser to the socially- and environmentally- responsible Citizens Funds.

Kendrick Kam and his new firm, Ingenuity Capital Management LLC of Los Altos, Calif., may add new value-oriented funds in the medical technology sector, according to a proxy statement the firm filed with the SEC Sept. 16. The funds would join Ingenuity's Medical Specialists Fund.

Mutual fund companies are taking steps to attract a share of the small but growing group of mutual fund investors who want tax-efficient funds.

SAN DIEGO, Calif. - Mutual fund companies are beginning to offer new types of funds - and even other kinds of investment products altogether - to remain competitive, said mutual fund executives at a recent industry conference.

Citigroup of New York is developing an unusual Internet fund that will be traded on the American Stock Exchange.

Kinetics Asset Management of New York, the investment adviser of the Internet Fund, has filed with the SEC to offer a no-load fund that will invest in medical companies, especially those that are working on a cure for cancer.

Thomas P. Meehan, a lawyer in Washington, D.C., is planning to offer his own mutual fund, according to a registration statement filed with the SEC Sept. 7. The Meehan Focus Fund, part of the Meehan Mutual Funds, plans to invest in no more than 25 stocks at one time, according to the registration statement. There are no other funds in the family. The no-load fund will follow a value-oriented investment strategy.