Money Management Executive Latest News

Kemper Funds of Chicago, the intermediary-sold proprietary mutual fund group of Scudder Kemper Investments, last week introduced its first of four new print ads. Each ad promotes long-term investing, said Kemper in a statement. According to Kemper, the ads are "aimed at easing investor uncertainty" in the midst of a volatile stock market.

Using new technology provided by w-Trade Technologies of New York, SURETRADE.com, also of New York, became the latest online brokerage firm that will allow investors to purchase and redeem mutual funds using a range of wireless electronic devices, according to Richard Franco, a spokesperson for w-Trade.

AIM Advisors of Houston, Texas has filed with the Securities and Exchange Commission to ask shareholders of two Asian funds to combine the two funds.

Fidelity Investments of Boston is asking shareholders to approve a merger of three of its single-country funds into the $1.5 billion Fidelity Europe Fund. The $16 million Fidelity France Fund, the $ 59 million Fidelity Germany Fund and the $4 million Fidelity United Kingdom Fund will close to new investments as of April 19, pending shareholder approval. The mergers are expected to be completed by the end of July.

The Securities and Exchange Commission will hold a public roundtable on May 23 on investment advisors.

Stephen Bitteker has joined AIM Distributors of Houston,Texas as first vice president and director of non-resident sales. In this position, Bitteker will oversee the marketing and distribution of five AIM offshore funds to U.S. investors. Bitteker was previously a senior partner and regional vice president for sales at Massachusetts Financial Services International of Boston.

PALM DESERT, Calif. - The SEC might permit an exception to its two percent cap on redemption fees, allowing closed-end funds that are converting to an open-end structure to assess a redemption charge in excess of two percent, according to Paul Roye, director of the SEC's division of investment management.

Using the Internet to market a fund's initial public offering could become widespread if the success of Merrill Lynch's Internet Strategies Fund IPO is indicative of the efficacy of the strategy.

PALM DESERT, Calif. - Regulators are increasing their scrutiny of mutual fund advertising in light of fund companies' heavy promotion of their 1999 mutual funds' performances.

Janus of Denver, Colo. launched a new television advertising campaign early last month including four 30-second spots that stress the lengths to which Janus analysts and portfolio managers go to investigate the companies in which they invest.