- Money Management Executive
The first survey ranking fund boards' effectiveness needs to adjust its methodology before it is conducted for a second time this autumn, according to the survey's author.
January 24 - Money Management Executive
Interval funds - hybrids between open end and closed end funds - are gaining popularity in the mutual fund industry because of the special benefits interval funds offer, according to Lipper of Summit, N.J. The number of interval funds available has skyrocketed from a lone interval fund in 1992 to a record 33 interval funds as of year-end 1999, according to Lipper. Sixteen interval funds were introduced in 1999. At the end of November, interval funds had more than $28 billion under management, according to Lipper. That is up seven-fold from $4 billion at the end of 1992.
January 24 -
It is a small part of a big deal but Charles Schwab Corp.'s announcement that it would acquire U.S. Trust Corp. of New York means Schwab will wind up doing something it has tried to avoid.
January 24 - Money Management Executive
George Putnam will be retiring as chairman of the trustees of Putnam Investments of Boston in June, according to a firm spokesperson.
January 24 - Money Management Executive
State Street Research & Management Co. of Boston has upgraded its website to allow shareholders to make purchases online.
January 17 - Money Management Executive
Fidelity Investments Institutional Brokerage Group of Boston will exclusively provide custody and clearing services for the American Institute for Certified Public Accountants of New York, Fidelity announced last week.
January 17 -
A class action suit against Dreyfus Corporation of New York will go forward in U.S. District Court in New York. The court dismissed five of eight claims against Dreyfus on Jan. 5. But, the judge allowed three claims to go forward. The remaining claims allege portfolio manager misconduct.
January 17 - Money Management Executive
Calvert Group of Bethesda, Md. is adding a personal financial advisor service to its website in early February, the company announced.
January 17 -
Morgan Stanley Dean Witter of New York is planning to offer a new tax-managed fund.
January 17 - Money Management Executive
Charles Schwab of San Francisco is a winner of the 2000 Catalyst Award, an award recognizing companies with innovative strategies for advancing women within their organizations. Catalyst of New York, a nonprofit research and advisory services organization, announced the honor earlier this month.
January 17