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Russell Investment Group has launched the Russell Top 50, an index that tracks the 50 largest U.S. stocks based on market capitalization. The move, which came yesterday, is likely to attract the attention of large-cap managers.

MSF Investment Management officials said yesterday that the Boston-based firm will reorganize all of its offshore mutual funds into a single fund family.

A new study from Financial Research Corp. and Thompson Becker Intl. reveals that, by an overwhelming majority, the opinions of financial journalists have been greatly affected by the mutual fund industry scandal and there are indications that it could impact how they cover companies going forward.

The criminal charges brought against 15 New York Stock Exchange specialists this week is an indication that they're likely to face rough weather going forward, according to the Wall Street Journal.

Stephen M. Cutler, Director of the Securities and Exchange Commission's Division of Enforcement, announced today that he intends to leave the Commission in about a month to return to the private sector. Cutler, 43, was named Enforcement Director in October 2001.

MFS Investment Management officials said yesterday that the Boston-based firm will reorganize all of its offshore mutual funds into a single fund family.

The Depository Trust & Clearing Corporation (DTCC) announced on Wednesday the launch of Networking for Direct Accounts to help the mutual fund industry calculate breakpoints on direct accounts more effectively.

The market share of equity index annuities (EIAs) among fixed annuities has nearly trebled in the last three years, growing from 11% in the first quarter of 2002 to 31% today. Because of equity participation, EIAs also compete with variable annuities, and a new study looks at the future of these fixed annuities.

The market share of equity index annuities (EIAs) among fixed annuities has nearly trebled in the last three years, growing from 11% in the first quarter of 2002 to 31% today. Because of equity participation, EIAs also compete with variable annuities, and a new study looks at the future of these fixed annuities.

The mutual fund industry might be appeasing investors by cutting management fees, but it's yet to embrace the performance-based fees its loosely regulated counterpart, the hedge fund industry, has used to its advantage.

Securities and Exchange Commission Chairman William H. Donaldson said yesterday that his organization might modify a controversial Sarbanes-Oxley rule that compels companies to disclose internal financial controls.

A.G. Edwards & Sons took millions of dollars in secret kickbacks to promote some mutual funds, a class-action lawsuit filed on behalf of investors alleges.

As the SEC and the U.S. Chamber of Commerce get set to face off in federal court Friday over the independent director rule, key players in the case commented on the case for MarketWatch.

The Securities and Exchange Commission is investigating two executives at Bear Stearns for improper mutual fund trading.

The upper-management shuffle at Janus Capital continued on Tuesday, as veteran portfolio manager Karen L. Reidy will move from the helm of the Janus Balanced Fund and into a strategic capacity for Janus CEO Steve Scheid.

Bank of America is launching a private banking unit for ultra-high-net-worth investors.

The Securities and Exchange Commission has instituted administrative and cease-and-desist proceedings against 20 former New York Stock Exchange specialists on charges of securities fraud and other improper trading practices.

As brokers and registered investment advisers brace for declines in fee income on the accounts of Baby Boom retirees drawing assets down, the head of Fidelity Investments' brokerage unit says "we don't know yet" how to deal with it - but that intermediaries must be flexible enough to adjust.

Chicago-based mutual fund tracker Morningstar said it is unsure what will become of allegations by the Securities and Exchange Commission that it overstated returns for the Rock Canyon Top Flight Fund last year.

Former Morgan Stanley manager Carolyn Patton has joined Janus Capital Group, as the Denver-based fund manager seeks to beef up its advisory presence, Financial News reports.