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Wednesday, June 06, 2001

Retiramation

Reported by InvestmentWires Staff, 

Japan's parliament looks ready to pass a DC pension scheme bill on Friday, said Reuters, since the ruling coalition is large and in charge in the Lower House. Legislative donkeywork can be completed by the parliamentary session's ending date of June 29, permitting firms to put plans in place by October.
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John P. McNulty, head of the Investment Management Division and a member of the Management Committee, will retire after 22 years at Goldman Sachs. Philip Murphy and Peter Kraus will co-head the Investment Management Division.
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HedgeWorld announced that it has acquired the assets of HedgeCall, a firm that provides audio and video steaming to the hedge fund industry.
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Wells Fargo moved its fee-based brokerage program online. The firm expects the web migration to satisfy client damnd for online account access and professional advice.
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Neuberger Berman issued an earnings warning today, announcing that 2nd quarter numbers will be lower than expected. CEO Jeffrey Lane attributed the drop to lower transaction volumes, although the record 2nd quarter inflows will be reflected in 3rd quarter reports.
* * *

Confluence announced today that SunAmerica Mutual Funds has signed onto its FundStation.net service. The web-enabled product calculates the performance of mutual funds and after-tax rates of return. 

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