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Rating:December 5, 2000 Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, December 05, 2000

December 5, 2000

Reported by Sean Hanna, Editor in Chief

Royce Mulls Over Sale
From Wall Street Journal
Royce & Associates is the latest fund firm to formally explore its future. The manager of $3.5 billion known for the value discipline of its founder Charles Royce has hired PaineWebber and Smith Barney for advice on its options. The article states that Royce himself plans to remain on board as a portfolio manager. At the current ratio of sales prices as 3 to 5 percent of assets, Royce could bring in $100 million to $175 million said the paper. The process is in the early stages, although Royce is believed to have held preliminary talks with one firm.

Scudder and Weisel Expected to Form Venture
From Wall Street Journal
Scudder Kemper Investments and Thomas Weisel Partners are on the verge of announcing a joint venture to sell alternative investment products under the leadership of Boyd Fellows, reports the paper. Scudder Weisel Capital, will serve wealthy investors and provide Scudder a more broad product line by leveraging Weisel's technology connections and Weisel will get access to retail distribution. The venture will also unveil a Web site featuring Weisel and analyst reports and news stories from Weisel reporters. The Scudder Weisel Capital Entrepreneurs Fund subadvised by Whitney Holdings will be the first product, is being reviewed by the Securities and Exchange Commission.

Women on the Rise at Funds
From USA Today
More women are taking senior jobs in the fund industry, according to the paper. Among the senior executives named by the article are: American Century's Kim Goodwin, Janus' Helen Young Hayes, Fidelity's Gail McGovern, American Express Financial Advisor's Paula Meyer, OppenheimerFunds' Bridget Macaskill.

Kim Goodwin's Rise
From Wall Street Journal
A profile of American Century's Kim Goodwin describes her as one of the highest-ranking African-American women in the fund industry. Goodwin, according to the article, was born in Omaha, became interested in business at Princeton and helped manage her father's construction business prior to grad school at the University of Texas where she launched her career at Mellon Bank in an investment research position. She then traveled a path as a portfolio manager through Prudential Securities and Putnam Investments before landing at American Century.

Putnam Tech Fund's Rise and Fall
From Boston Globe
Syre and Steins Capital Markets column looks at the "wild ride" of Putnam's $8.7 billion OTC & Emerging Growth fund. The fund climbed 126 percent in and more than tripling through January 1999 and March of 2000. Then came the fall. The fund is down 68 percent since March and 53 for this year. So, from January of 1998 to now the fund has gained just 6.9 percent. However, the fund will also be paying an estimated 15 percent of its NAV as a capital gain distribution sometime this week.

Fund Outflows Slow
From Boston Herald
Funds saw outflows of $1.44 billion last week, according to estimates by TrimTabs.com Investment Research Inc. The outflow was less than the $3.26 billion net redemption for the week ended November 22.  

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