Money Management Executive Latest News

LONDON - Investors in the U.K. can now save a small fortune in charges by buying managed funds and pensions over the Internet and by telephone from U.S.-style fund supermarkets.

T. Rowe Price Associates of Baltimore, Md., is trying out a new use of mutual fund profile prospectuses that other firms may be steering clear of because of potential legal risks.

The SEC, alleging a portfolio manager stole approximately $5.8. million from the funds he managed, has sued the manager who has already spent seven months in jail on related charges.

Charles Schwab & Co. of San Francisco and TD Waterhouse of New York have reached an agreement with Ameritrade Holding Corp. of Omaha, Neb. and three venture capital firms to form an online investment bank specializing in initial public offerings, the companies announced last week.

AIM Management Group of Houston, Texas has started a new television advertising campaign emphasizing discipline in investing.

Janus of Denver, Colo., the growth-oriented mutual fund company, is planning to offer its first value fund since 1988.

Fidelity Investments of Boston is likely to be adding a new member to its funds' boards of directors early next year.

Asset Manager Account customers of T. Rowe Price of Baltimore, Md. can now use the Internet to trade mutual funds in the T. Rowe Price fund supermarket.

The Pioneer Group of Boston plans to open a junk bond fund that will incorporate assets from another high-yield bond fund, according to an SEC filing.

Salomon Smith Barney of New York has filed a registration statement with the SEC to ask shareholders of its closed-end Greenwich Street Municipal Fund and shareholders of its open-end Smith Barney Managed Municipals Fund to merge the former fund into the latter. If approved, the proxy vote will take place Feb. 11.