Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BlackRock Wants to be a Buyer Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, July 16, 2001

BlackRock Wants to be a Buyer

Reported by InvestmentWires Staff, 

Davis Selected Advisers has filed with the SEC to fold its $40 billion Growth & Income Fund into its $23 billion New York Venture fund. The resulting jumbo fund should mean reduced expenses for shareholders according to the firm. The smaller NY Venture fund has signifcantly better sales and performance than the larger Growth & Income fund. It is the was the number three best-seller in May, according to FRC.

* * *


BlackRock is in the market to purchase domestic and international stock fund managers, according to a report in the American Banker. To build its business beyond fixed income the New York-firm ie reportedly willing to make a purchase or to hire teams of analysts and amanagers from competitors.

* * *


The Unit Trust of India, India's largest fund complex, has reopened its US64 fund to limited redemptions starting August 1. The fund caused a crisis in India's stock market when it said it was freezing redemptions (See Indian Stocks Undone by Fund, 07-13-01). The fund will limit redemptions to 3,000 units per unitholder and pay 10 rupees per unit.

* * *


401k plans are the best way to save for retirement said individuals polled by Maritz Research. More than one-quarter (27 percent) of the survey cited 401ks as being tops, compared to 15 percent for mutual funds and 13 percent for IRAs. Annuities received 4 percent of the vote. Interestingly, individuals did not seem to distinguish between vehicles (401ks, IRAs and annuities) and securities (stocks, CDs, mutual funds and bonds). The survey also found younger Americans are more likely to have started saving for retirement than Baby Boomers.

* * *


New York Life Investment Management has announced the appointment of Steven Schneider as senior managing director and chief financial officer. Schneider had been managing director and chief financial officer of Deutsche Asset Management.

* * *


After a workflow analysis completed by Thomson Financial's Professional Consulting Services, Reams Asset Management has decided to upgrade its systems to an STP environment using: an updated version of PORTIA for portfolio analysis, Thomson OpenTrader for equity order management, Oneva Trade FI for fixed income order management and PERAscope for performance metrics.

* * *


The June issue of Plan Sponsor magazine found that Manulife Financial was the top dog in 401k products for the defined contribution market. The magazine also named Manulife as one of the top ten recordkeepers for defined contribution plans as measured by its number of clients.

* * *


Integrity Investments has announced that it will expand its relationship with the Bank of New York to include fund administration and fund accounting for The Valiant Fund.

* * *


T. Rowe Price has launched its 11th sales based investors center in Tysons Corner, Virgina. The firm has opened at least four such centers in the past six months (See: T. Rowe Plans Two More Outlets, 10-30-2000).

* * *


Value Line has announced record earnings for fiscal year 2001 ending April 30. Operating income for the fiscal year was 12 percent higher than the same period year ago while operating income for the forth quarter was 4 percent higher than last quarter.

* * *


In an effort to further capitalize on the wealth management business in California, Wilmington Trust is opening an Orange County office in Costa Mesa. The office will be managed by Nella Webster, former senior business development officer at Schwab's U.S. Trust.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use