Following on the success of their fund rating service, Morningstar is introducing stock ratings for 500 stocks on the premium section of its site, Morningstar.com. Morningstar will use its famous 5 star system to rate stocks based on a stock's market price as compared to its fair value (as computed using a discounted cash flow model developed by The Applied Finance Group) and will include a risk measure (high, medium, low) based on company and industry factors.



AIM closed its AIM Tax Exempt Bond Fund of Connecticut and AIM Advisor Flex Fund to new investors as of yesterday. These closings should ease the way for AIM to roll its Tax Exempt Bond Fund of Connecticut into its AIM Municipal Bond Fund and to move the AIM Advisor Flex Fund into the AIM Balanced Fund. Pending shareholder approval for both changes, AIM hopes to make the changes by this September.



Michael McGrath has joined Nuveen Investments as a managing director in its International and Alternative Investment Products Development Group. McGrath was at Gruntal for eight years where was a managing director in the Financial Products Group.



Lord Abbett is passing around the scones as its Bond-Debenture Fund (LBNDX-A class, LBNBX-B class, BDLAX-C class) has surpassed four billion in assets, a 20 percent increase from the beginning of the year.



Judy Diamond Associates has released a new book entitled "12 Steps to Your Personal Success in the 401(k) and Small Plan Market" by Rich White. The book focuses on the technical aspects of selling or converting existing plans as well as the ramifications of new retirement legislation.



David Gladstone has retired from the board of American Capital Strategies, where he served as vice-chairman. Gladstone is leaving to star a firm that will provide senior loans to middle market companies. 

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