Money Management Executive Latest News

StockJungle.com of Culver City, Calif. has announced that it is paying $50 rewards to investors who submit the hottest stock ideas to its web-based Community Intelligence Arena, a pool from which stocks are selected for the firm's Community Intelligence Fund.

Scudder Kemper Investments of Boston has announced it has launched a new division that will invest in or find funding for new electronic-commerce ventures. Scudder is calling the new division the Scudder Kemper Investments E-cubator Group.

The closed-end AIM Floating Rate Fund is asking shareholders to approve changes that would convert the fund to a so-called interval fund, a move that will make it less expensive for the fund to buy back shareholders' holdings.

An alliance between DLJdirect of Newark, N.J. and Vail Resort of Avon, Colo. will provide skiers with online mutual fund information and the ability to buy and sell funds at several Colorado ski resorts, the companies announced last week.

Aetna Financial Services of Hartford, Conn. has formed a partnership with 100 Black Men of America of Atlanta, Ga. an outreach organization that has 10,000 members worldwide.

Someday, the Internet might be a compelling way to distribute mutual funds, but today it remains tough to beat a wirehouse when it comes to fund sales, if PaineWebber's recent experience is any indication.

The Vanguard Group of Valley Forge, Pa. announced that its Vanguard Health Care Fund will reopen to new investors starting Dec. 20. The fund currently has assets of $11 billion.

Dan Reams has been named vice president and wholesaler of the financial institutions division of AIM of Houston, Texas. Reams will provide marketing, promotion and sales support in Georgia and western Florida.

The SEC may be overdoing it in its preparations for the computer-programming transition to the year 2000, according to some mutual fund operations executives.

The process of valuing the securities in a mutual fund's portfolio - often an imprecise task - may require more work from now on for some fund companies and fund directors.