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Rating:June 12, 2000 Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, June 12, 2000

June 12, 2000

Reported by Sean Hanna, Editor in Chief

The pension backlash
From USA Today
A front page article in today's USA Today examines the growing pension backlash. While limited mostly to defined benefit and cash balance plans, the workers are becoming more active in overseeing their benefits. This change is at least in part a result of the shift to 401(k) plans and workers greater education about investing.

Runny or hardboiled? Egg to go public today
From FT MarketWatch
Not all financial services hubs are sinking. Go overseas to Britain and you'll find that Prudential's Egg.com has been one of the few successes. Today Egg will raise about 235 million pounds by selling 18% of the company at a valuation of 1.3 billion pounds. Egg claims more than one million users.

Funds top S&P
From Smart Money
More than half of funds are now beating the Standard & Poor's 500 index. The weekly fund review also carries stories on Vanguard's new (non-index) funds and Citi's new (index) funds.

The WSJ questions New York Life
From Wall Street Journal
Today's Journal picks up on the story first reported here. The issue is whether New York Life has harmed employees by investing four of its retirement plans (two defined contribution and two defined benefit plans) in the insurer's own mutual funds. The articles points out that 56% of the Mainstay's Funds assets are gathered from the conpany's retirement plans.

GE turns to Schwab
From Wall Street Journal
Today's Journal picks up on GE dropping the load on its funds to sell direct through Schwab. The article raises the issue of channel conflict between brokers selling the company's commission funds and its new no-load distibution channel.

Bogle's Crusade and ETFs
From Barron's
Those who have not yet read enough on Jack Bogle's views on indexing, funds and exchnage-traded funds can get more in this week's Barron's. Nothing new though for those in the know.

    Of Interest
  • The Seattle Times offers tips on opening fund accounts online. Only ten percent of customers do so.
  • CNNfn examines the ins and outs of lifecycle funds, including the best of the class.
  • The Detroit News picks three funds for their research prowess.
  • Fund briefs from The Detroit News includes new funds from Liberty, Schwab. Reserve Funds reduces mailings.
  • CBS.Marketwatch offers an interview with Barclay's Managing Director Lee Kranefuss .
 

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