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

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

Rating:Is Marsico Safe From Cuts? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 27, 2004

Is Marsico Safe From Cuts?

by: Sean Hanna, Editor in Chief

The Marsico and Acorn families will not be broken up, but that will not be the case for the other funds in Columbia and NationsFunds. The latest speculation is that another 38 funds could disappear as Fleet is absorbed into Bank of America. While the two banks have not announced any plans for their funds, Financial Research Corp. told the Boston Herald which funds are likely to go.

The $18 billion of funds likely to be targeted for closure or merger in the Columbia and NationsFunds families were outlined in the paper's article ( Merger squeezes fund managers: Fleet, BofA have options that overlap) Monday morning.

Separately, Bank of America confirmed last week that Boston will be the home of the $440 billion, 134 fund family (it will be based at 100 Federal Street) and that Brian Moynihan, head of wealth and asset management, will run the business.

Moynihan told the paper that he will eliminate duplicate funds as part of an effort to "get a competitive cost structure," for the family. That comment seems to have started the paper on its hunt for which funds will go.

Neither the Marsico nor Acorn funds are likely to be included in the cuts, he added. "They are both much more stand-alone firms," he told the paper.  

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

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q1
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use