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Investors in 401(k) plans have more investment options and receive more education about investing for their retirements than they did three years ago, according to the 1999 "Trends and Experience in 401(k) Plans" survey by Hewitt Associates, a management consulting company in Lincolnshire, Ill.
January 17 -
The Electric City Funds of Schenectady, N.Y. is planning a new mutual fund that will invest primarily in a small group of stocks that it will hold long-term, according to an SEC filing.
January 10 -
The Sturgeon Financial Group of Dayton, Ohio is planning to offer a value fund with a technology bent, the first of two funds the firm expects to offer this year.
January 10 -
The high cost of retaining key mutual fund executives and concerns about lawsuits have produced what may become a common ingredient in mutual fund company acquisitions -
January 10 -
In calculating fund expense ratios, funds may only reduce total expenses by contractual fee waivers or reimbursements, the SEC is reminding fund advisers in its annual, "Dear CFO" letter.
January 10 -
The SEC has made it easier for funds to redeem the holdings of affiliates and large shareholders in securities rather than cash, a move industry accountants and lawyers say should reduce fund costs and ease operational headaches.
January 10 -
A growing number of fund companies are establishing alliances with third party 401(k) advisory firms in an effort to meet increasing demands for 401(k) advice.
January 10 - Money Management Executive
Six companies in the mutual fund industry made Fortune magazine's list of 100 Best Companies to Work For, announced in Fortune's Jan. 10, 2000 issue.
January 10 - Money Management Executive
January 1 was the much-anticipated start of a new millennium, but it turned out to be just another trading day for the mutual fund industry. Fund companies that had spent millions of dollars to expand their computer data fields from two digits to four in order to accommodate the year 2000, experienced no problems retaining files or pricing securities, according to the SEC. The SEC announced last Wednesday it was "step[ping] down its Y2K monitoring efforts."
January 10 - Money Management Executive
Ron Olin, a shareholder activist, succeeded in having a meeting of the shareholders of the closed-end Global Small Cap Fund of New York adjourned before its business of holding a shareholder vote on opening the fund, was accomplished.
January 10