Portfolio

The Fidelity and Deposit Companies (F&D) of Baltimore announced its new E-Risk Protection Program, a new risk management service designed to help financial service firms reduce risk related to online business activities.

The Moneypaper, a newsletter based in Mamaroneck, NY, has started a new no-load mutual fund which is based on the newsletter's 63-stock index of companies that have low or no-cost dividend reinvestment plans. The company announced plans to start the fund in the fall.

The Central European Value Fund announced that it has added Estonia to the list of countries in which the fund can invest. In addition to Estonia, the fund is currently authorized to invest in Austria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovenia and Slovakia. The fund invests at least 65 percent of its assets in central Europe, It may also invest up to 35 percent in eastern European countries. The fund is listed on the New York and Osaka stock exchanges.

Wilshire Associates announced that the first Wilshire 5000 Index Fund will be launched Feb. 1. The fund will seek to replicate the index while keeping transaction costs low.

In an effort to offer actively-managed performance at a cost and risk more associated with an index fund, J.P. Morgan has introduced a hybrid fund, the SmartIndex Fund.

Bonus units on deferred load funds, launched this month by discount brokerages, have opened up a new front in price competition. Since the introduction of the first deferred load funds in Canada in 1987, all types of intermediaries -- whether full service advisors or discounters -- have collected exactly the same amount of commission paid directly to them by the fund companies.

Alpine Management & Research of New York has started the Alpine Realty Income and Growth Fund, its third focused real estate mutual fund.

When the Value Trends Funds began selling its new mutual fund the first week of January, fund officials claimed it was the first no-load mutual fund to invest in the golf industry.

A new mutual fund plans to combine two previously independent investing strategies- momentum investing and sector funds.

Fidelity Investments has started the Growth & Income II Portfolio, a new retail fund with similar investment policies to those of Fidelity Growth & Income, which was closed to new investors on April 3, 1998.