Money Management Executive Latest News

The mutual fund portion of the merger between Boston's two biggest banks - BankBoston N.A. and Fleet Financial Group - is falling into place.

The Franklin Biotechnology Discovery Fund has closed to new investors.

The Montgomery Global Long-Short Fund reopened to investors earlier this month after closing in May of last year, said Peter Greenley, a spokesperson for Montgomery Asset Management of San Francisco.

T. Rowe Price Associates of Baltimore may be about to make an old growth fund do new tricks.

Wasatch Funds of Salt Lake City, Utah has renamed four of its equity funds in an effort to better describe the funds' investment strategies.

The money management arm of Waddell & Reed Financial of Overland Park, Kan. is planning to offer a tax-managed fund.

Scudder Kemper Investments of New York and Invesco Funds Group of Denver, Colo. are now offering personalized news and tax filing services to investors through their websites.

Gavin Quill has joined Financial Research Corp. of Boston as senior vice president for research. Quill was previously the founder of Quill Consulting of Boston, which specialized in financial services marketing. Prior to that, Quill was vice president for global cross business development at Scudder Kemper Investments of Boston.

Broker/dealers could face pressure to provide investors with an unprecedented amount of detail about the special sales payments they receive from mutual funds and mutual fund companies as the result of a class action lawsuit that is moving slowly through the federal courts.

Small fund companies may have an advantage over large fund companies when attracting and retaining portfolio managers because they can offer a greater equity stake, they are less bureaucratic and they give their managers greater autonomy, according to mutual fund analysts and executives.