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Wednesday, October 03, 2001

SEC Rules Cause Name Change

Reported by InvestmentWires Staff, 

Michael J. Romanowski has signed on as portfolio manager for the Orbitex Info-Tech & Communications Fund and the Monument Digital Technology Fund. HE joins Orbitex from Fortis Advisers where he managed the Fortis Growth Fund and the Fortis Series Growth Fund, totaling almost $2.5 billion in assets.

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Jordan American Holdings has cut deals to distribute its IMPACT Funds through three more broker-dealers. The deals were with CSFB, Mid-Atlantic Capital and Investors Capital Corporation. The funds now are a part of 10 selling agreements.

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A.J. Elko, CEO of Jordan American Holdings, Inc. commented, "We are very pleased to be able to secure agreements with some of the top brokerage firms in the country. These agreements are consistent with Management's ongoing efforts to diversify the sales of its various products and services."

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The new SEC regs requiring that at least 80 percent of a fund's investments reflect its name is causing change. INVESCO Blue Chip Growth Fund will become the INVESCO Growth Fund in order to follow the rule without changing its investment mandate.

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TD Waterhouse Institutional is beefing up its advisor services. The firm took the wraps off a number of third-party offerings at its Northeast Regional advisor meeting in New York City today. The relationships include discounted Web sites for RIAs through AdvisorSites and research from Goldman Sachs PrimeAccess. Nexstar Financial will offer mortgages through RIAs, said J. Thomas Bradley, Jr., president of TD Waterhouse Institutional Services. Total Personal Services Administrative Group will provide a new family office service for RIAs using Waterhouse.

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Fidelity is adding Web-based hiring tools to its eWorkplace HR/payroll outsourcing practice. The firm says that Fidelity Hiring Management System, will be based on systems provided by Recruitsoft. "We continue to see growing interest among companies to outsource their human resources management functions and payroll services," said Teresa Hassara, executive vice president, Fidelity Employer Services Company's HR/Payroll practice.  

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