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Rating:Odd Lots, January 18, 2000 Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, January 18, 2000

Odd Lots, January 18, 2000

Reported by Paul Braverman

Leaving a legacy
From The Wall Street Journal
Putnam Investments is diversifying into the insurance business. A new option will let mutual-fund owners protect their heirs from a prolonged decline in stock prices. Investors who choose the option will pay a higher fee. In return, their heirs will be guaranteed that if the investor dies after the market has dropped, the heirs will not only receive whatever is left in the account, but also the difference between the value of the portfolio at the time of death and the highest value of the portfolio at designated points in the past. The benefit is capped at $2 million. The insurance will be offered through Marsh & McLennan and Allstate.

Supermarket shopping at Merrill
From The Wall Street Journal
Last month, Merrill Lynch opened its much-anticipated online-investing platform, Merrill Lynch Direct, with 2,400 mutual funds from 90 fund companies. The offering is Merrill's first effort at selling funds online. It's also Merrill's first at selling no-commission, no-fee funds. But they've got fewer no-load funds than either Schwab or Fidelity, and questions exist about Merrill's commitment to that sector of the market, and whether it can serve that crowd without slighting their army of brokers. Merrill will wait and see the extent of the demand before adding more funds. 

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