Merrill Drops Princeton Name

On the heels of its deal with BlackRock and pressure from Princeton University, Merrill Lynch has decided not to name its mutual funds unit Princeton Portfolio Research and Management, the Daily Princetonian reports.

The university had protested Merrill's right to the name, even though Merrill Lynch Investment Managers is in the Princeton area, for fear that investors might think there was a connection with the manager of the university's endowment.

"We feel strongly about defending the university's reputation and have been active in defending it in the past," said Princeton University spokeswoman Cass Cliatt.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.