It may be the lazy, hazy days of summer, but fund firms never rest:

Dreyfus is launching the Premier Future Leaders fund. The fund's modest goal is to invest in small cap companies that are, according to a Dreyfus statement, "future leaders in a variety of industries" and are "characterized by new, innovative products, services or processes." Paul Kandel and Hilary Woods, currently co-managers of the Emerging Leaders fund and the New Leaders fund, will co-manage. Minimum investment is $1,000. Class A, B, C, R and T are available.

Aeltus Investment Management, advisor to the Aetna Funds, announced the launch of its fourth mutual fund with a guarantee of principal. The Principal Protection Fund IV is being offered for from July 6 to September 6. The guarantee period will then run from September 7 until September 6, 2005. The fund will have no predetermined allocation between equities and bonds. In a statement, Frank Litwin, head of sales and marketing for Aeltus, said that the guarantee funds have "strengthened our relationships with brokers who currently sell our products and developed a number of new broker relationships." The guarantee of principal is insured by MBIA Insurance.

INVESCO says that business is booming, and claims to have tripled assets under management in the last two years. Apparently, they need more room to keep all that money, so the firm is breaking ground on the future site of its new headquarters today. Construction is expected to be completed by the fourth quarter of 2001.

Enterprise Capital Management has formed an alliance with Rockefeller & Co. to create and distribute financial products to the retail brokerage, financial planning and institutional marketplaces both domestically and offshore. Rockefeller & Co. serves a select group of clients, primarily wealthy families, foundations, endowments and not-for profit organizations. 

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