Montgomery Long-Short re-opens
The Montgomery Global Long-Short Fund has reopened to new investors. The red-hot fund closed in May -- six weeks ahead of schedule, after gaining 53% in 1998 and an eye-opening 135% in 1999. That growth has attracted $500 million in assets, to which they intend to add an additional $200 million. On the managerial side, Chetan Joglekar and Bob Rezaee, analysts at the fund, became co-managers. Just a few months ago, Angeline Ee stopped running the emerging-markets portion of the fund and was replaced by Josephine Jimenez.
The Morningstar Diner to serve investors
From The Wall Street Journal
As The 401kWire.com reported last week (401kWire 1/31), Morningstar's advice service, ClearFuture, has been launched and is being promoted in a cross-country tour, featuring actors discussing 401(k) plans at the "Morningstar Diner." The site itself features Jake Starlight, a retro-futuristic cartoon spaceman, and his faithful dog, Maggie. This is the latest entry in the booming advice market.
E*Trade fund chief quits
From The Los Angeles Times
Brian Murray, E*Trade's mutual funds chief, resigned Friday (MFWire 1/19). The reason given is that Murray is a buy-and-hold guy, while E*Trade caters to frequent traders. Murray will leave on March 1. His next move will be to start a venture capital firm and possibly an online financial services company. E*Trade has six of its own name-brand funds with $200 million in assets, another two funds about to be launched, and $1.6 billion in its fund supermarket.
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