Janus Loses Another Exec
From TheStreet.com
Janus is losing another of its key executives. Friday, Steven Goodbarn, the 43 year-old chief financial officer of Janus Capital, resigned the Denver-based manager. The news came out when Janus filed a prospectus amendment on Monday, stating that Goodbarn is "no longer Vice President and Chief Financial Officer" of the funds. Janus' last high profile resignation was that of chief investment officer Jim Craig's resignation. Janus has not yet replaced Goodbarn.

Morgan Stanley Shuffles Leaders
From Crain's New York
Morgan Stanley Dean Witter & Co. is shuffling the personnel in its asset management unit. Joseph McAlinden takes the post of chief investment officer while Richard Worley will become chief strategic officer and head the firm's private equity and venture capital groups. Worley, formerly chairman of Miller Anderson & Sherrerd and CEO of Morgan Stanley institutional, will also serve as chairman of the investment management committee.

Distributions Story Has Legs
From The Wall Street Journal
This Fall's hot fund story is quickly becoming the pattern of larger-than-usual capital gains distributions being paid by fund companies. Today, the Journal jumps into the fray with an article on preannouncements being made by fund companies. The article notes that fund companies are announcing distributions earlier than ever. Last week Vanguard and Capital Research & Management released some figures. Fidelity Investments is expected to release the distributions for all of its funds one month early.

Pension Lobbying Intensifies as Senate Vote Nears
From USA Today
The decibel level of lobbyists is rising as the pension reform bill is nearing a vote in the Senate. The most controversial provisions concern cash balance pension plans. Monday, employees working for companies which have switched to cash balance plans delivered a petition signed by 2,566 workers to Sen. William Roth, R-Del., the bill's sponsor. Critics also claim that the bill would "primarily would help high-income workers and would do little to encourage companies to set up new pension plans," says the paper. It adds that at least two senators -- Tom Harkin, D-Iowa, and Edward Kennedy, D-Mass. - are planning amendments to address these concerns. Meanwhile, Fidelity has been actively encouraging investors to write Senators in support of the bill and American Century released the results of a poll showing support for provisions in the bill, which raises 401(k) and IRA contribution limits.

Japan DC Plans Held Up in Parliament
From Financial Times
The U.S. is not the only country facing pension reform. Japan is also in the midst of a pension system overhaul, which will introduce defined contribution plans. That legislation is now looking more likely to be delayed. The slowdown in the Japanese legislation is the result of "parliamentary squabbles" over unrelated bills, the Financial Times quotes Yasuhisa Shiozaki a senior Liberal Democrat party (LDP) politician as saying.  

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