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Rating:Russell Shies Away from Techs Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, July 10, 2001

Russell Shies Away from Techs

Reported by InvestmentWires Staff, 

Russell is moving away from tech stocks in their annual index rebalancing: of the companies dropped from their Russell 3000 index, 42 percent were in the tech sector.

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The FTSE has released FTSE4Good, a tradable, socially responsible set of four indices: the FTSE4Good Global 100, the FTSE4Good US 100, the FTSE4Good UK 50, and the FTSE4Good Europe 50.

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Fidelity Investments and Ernst & Young released a survey today on the attitudes of a wide category of affluent investors. Interesting findings include: 65 percent of millionaires, 70 percent of those under age 40 with 500,000 dollars in liquid assets, and 74 percent of employees with at least one million dollars in their workplace retirement accounts fear a significant financial setback based on category specific worries such as: personal debt, volatile markets, poor performing markets, job loss, and health problems.

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Aberdeen Asset Management has put a bid in for Sun Life's U.K. fund management arm, reports Reuters. However, Aberdeen Asset Management's CEO does not expect to win the bid as he believes that there will be higher bidders.

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Bloomberg is introducing four new European indices based on the following market sectors: cyclical, staples, industrials, and resources.

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Portfolio manager James Houlton is leaving Strong Capital amidst the folding of his 31 million dollar Internet Fund into Derek Felske's 176 million dollar Strong Technology 100 fund.

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ING Pilgrim Investments is launching Pilgrim Principal Protection Fund, a fund with a five-year guarantee of principal for investors who invest within the offering period that expires October 3rd.

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ING Americas has appointed Jim Pedrick, formerly head of Strategic Marketing at Schwab, to senior vice president of marketing for its U.S. Retail Financial Services division.

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Franklin Templeton Distributors will reopened the Franklin Small Cap Growth Fund I on September 1. It is also renaming the fund to Franklin Small-Mid Cap Growth Fund and expanding its investment universe to include companies with market caps of up to $8.5 billion from $1.5 billion. 

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