Internet funds' fat fees
From The Wall Street Journal
With the rush of money into Internet funds slowing down, the funds' fundamentals are finally getting some attention. Morningstar has crunched the numbers and found that the average expense ratio of Internet funds is a full third higher than the average equity fund, and 30 basis points higher than the average tech fund. This has not been a concern to investors when their funds are doubling or more every year, but could have a huge impact on inflows with another big dip or two in the sector.
Ex-Bankers Trust chief leaving Deutsche Bank
From The Los Angeles Times
As expected, former Bankers Trust Corp. Chairman Frank Newman will leave today, less than a month after he sold the firm to the German bank for $9 billion. Newman, 57, who wasn't named to the German bank's management board after the merger, said he left because "the role originally envisioned for me will not be necessary." "The fact that Newman didn't get a place on the board made his position untenable," said James Hyde, an analyst at Merrill Lynch & Co. in London.
Merrill's Doll speaks on stopping the outflows
From Smart Money
Financial Research Corp. (FRC) estimates that Merrill Lynch has suffered through $6.4 billion of outflows so far this year for its fund group. Staunching this outflow is the new job of Robert Doll, Merrill’s new chief investment officer for equity funds, who joined Merrill Monday from Oppenheimer Funds. In an interview with SmartMoney Doll says that Merrill needs to "improve upon" its current fund offerings and broaden its products from its value focus. He added that Merrill must work on its communication with distribution partners to help sell its funds.
Morningstar to bulk up advertising, combine Websites
From The Chicago Tribune
Morningstar will reportedly combine its Morningstar.com and Morningstar.net websites and hire a PR firm to help promote the on-line changes. It is also close to unveiling a major advertising campaign, and currently looking at potential ad agencies to do the work.
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
