Money Management Executive Latest News

The Calvert Group of Bethesda, Md., has added to its website a list of the top 10 holdings in its own eight funds as well as in 9,000 domestic and international equity mutual funds. The socially-responsible fund company is updating the holdings data on its own funds each month and the holdings data on the 9,000 other funds each quarter. Wiesenberger of Rockville, Md., is supplying Calvert with the data on the 9,000 funds. Wiesenberger is a division of Thomson Financial, as is Securities Data Publishing, the publisher of MFMN.

Deutsche Asset Management of New York has consolidated the marketing and sales divisions of the mutual fund businesses of Deutsche Funds, Bankers Trust, BT Alex. Brown and Morgan Grenfell under Deutsche Asset Mangement.

Standard & Poor's of New York last week published its latest group of Select funds, naming five mid-cap value funds "Select" for delivering consistently superior performance relative to their peers and for having strong management teams.

American Century Investments of Kansas City, Mo., has enhanced its quarterly customer account statements to reflect individual rates of return in each customer's personal portfolio, as opposed to providing performance figures for each fund in its family. For instance, if a particular fund has increased 12 percent in the quarter but represents only 15 percent of the investor's portfolio, the statement indicates that fund's contribution to the investor's portfolio is 0.8 percent (15 percent of 12 percent.)

Prudential Securities of Newark, N.J., and Legg Mason of Baltimore, Md., have hired Standard & Poor's of New York to provide information and advice on their Internet sites. Prudential and Legg Mason are the first clients for S&P's new service, which includes market commentary, financial planning tools and investment recommendations.

Morningstar of Chicago will publish its analysts' 75 favorite mutual funds in the July issue of its investment magazine, Morningstar FundInvestor. The analysts will select the funds based on their performance, risk, expenses, asset size and managers' fund-picking ability.

The District of Columbia has selected Aetna Life Insurance and Annuity Company of Hartford, Conn. to supply its 401(a) defined contribution plan to the District's 13,000 employees who currently have $208 million invested.

Fidelity Investments of Boston has redesigned its web site to make it easier to navigate. Fidelity is also now offering business news, charts and quotes from CBS Marketwatch.com, a public Internet-based financial news company started by CBS.

Prudential Investments of Newark, N.J., has raised $391 million during its 31-day initial offering period for its three new sector funds (MFMN 6/14/99).

Joseph Melone has joined the board of directors of The BISYS Group of Little Falls, N.J. Melone is chairman emeritus of The Equitable Companies of New York.