Portfolio

UMB Financial Corporation announced that it has changed the name of its proprietary family of mutual funds, the Scout Funds, to the UMB Scout Funds. The name change will have no effect on investment strategy.

Merrill Corporation, a provider of paper and electronic document and information management services, is introducing what it is calling, "Electronic Distribution Services." The new services will allow clients to convert marketing and compliance documents to a variety of electronic formats, including HTML and PDF files that can be posted online, or stored in a diskette or CD-ROM.

While John Glenn is making news for NASA as the oldest man to travel into space, a new fund adviser in Los Angeles is hoping that a NASA scientist will make news for its new small-cap quant fund.

PNC Bank has made several improvements, including the addition of new fund families, to Vested Interest, its bundled 401(k) product.

In an effort to build its online business, Morgan Stanley Dean Witter is creating a line of proprietary index funds to be sold exclusively through its online brokerage, Discover Brokerage Direct.

Faced with growing account balances, 401(k) plan participants are increasingly demanding more help making retirement plan decisions, according to several industry experts.

John Nuveen & Co. has added 10 new equity defined portfolios to its selection of unit investment trusts.

Invesco Funds Group has added two new funds, the Invesco Endeavor Fund and the Invesco International Blue Chip Fund.

Arthur Andersen and insurance broker Frank Crystal & Co. are offering a joint program to reduce risks and costs for fund industry participants.

The National Securities Clearing Corporation is set to begin testing Phase 2 of its Mutual Fund Profile System next month.