Portfolio

Charles Schwab Corporation of San Francisco has introduced a mutual fund for people who want to donate to charitable organizations, joining a relatively small number of fund companies offering similar products.

IJL Wachovia of Winston-Salem, N.C. recently established the Wachovia Investment Fund, a portfolio managed by undergraduates at the University of North Carolina at Chapel Hill. IJL Wachovia provides $50,000 for students to invest, along with substantial institutional support.

Investors who use investment strategies that center on dollar-cost-averaging or asset allocation may be able to reap greater returns with a variable annuity than they can with mutual funds, according to a study released last month by the National Association for Variable Annuities.

When the going gets tough, fund advisers get creative.

NEW YORK - Exchange-traded funds, funds that invest a majority of their portfolios in a variety of stock market indexes, pose a serious challenge to closed-end equity funds, according to some industry analysts.

In the past two years, wirehouses like Bear Stearns, Morgan Stanley and PaineWebber have introduced mutual funds that invest in stocks that are recommended by their firms' equity analysts.

TORONTO - Mackenzie Financial, the largest Canadian fund company selling through independent brokers and dealers, has launched a low-fee class of units aimed at stemming defections by its richest customers.

An institutional real estate investment advisor is planning to offer a new real estate-oriented mutual fund.

The Warburg Pincus Funds early next year will add a large company growth fund and merge two similar funds, according to SEC filings and a company spokesperson.

Charles Schwab & Co. of San Francisco has reached an agreement with OffRoad Capital Corporation, also of San Francisco, to offer private equity investments to Schwab customers.