Janus stock picker Helen Young-Hayes will no longer manage a portion of Litman/Gregory Fund Advisors Masters’ Select International Fund. She had run 20 percent of the $250 million fund. That portion of the fund will be spread among the remaining managers rather than given to a new firm. Litman/Gregory explained that Young-Hayes was unable to "maintain the commitment that we both expected when she was originally hired." A source at one of the remaining firms managing assets for the fund told MFWire.com that Janus wanted to replace Young-Hayes with another analyst but that Litman/Gregory had declined that arrangement.



Alliance Capital Management reported a 9.5 percent dip in assets under management during over the third quarter. The firm managed approximately $421 billion at September 30, 2001, compared to $465 billion at June 30, 2001.



Retirement plan administrator Invesmart has put together guides for employers of reservists who are called to active duty. The guides explain the provisions of the Uniformed Services Employment and Reemployment Rights Act (USERRA) and are available at. The guides are available on Invesmart’s www.invesmart.com or by calling 1-888-888-0076. The firm also said that it has extended full pay and all benefits to its employees who’ve been called to active duty.



Toews Funds, which is aiming at providing the upside of indices while limiting downside risk, reports that its Toews Nasdaq-100 (advisor class shares) fund is performing as advertised. The fund is off 2.89 percent through Sept. 30, since its inception, against a 30.6 decline in the Nasdaq-100 over the same period. The Toews S&P 500 (advisor class shares) dropped 1.71 percent during that period, compared to a fall of 14.1 percent for the index.  

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