MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 20, 1999 Odd Lots, October 20, 1999 Managers on the march From The Wall Street Journal -- password needed Both Janus and Scudder are shaking up their portfolio management teams. Janus Fund portfolio manager Jim Craig is being promoted to become director of research. Many in the industry believe that this is an augury that he will eventually head up the firm. Meanwhile, Rob Hoffman head of the growth-and-income team at Scudder has left for personal reasons. Banking bill balked From The New York Times Senate Democrats and Republicans failed to agree on key issues involved in moving a financial reform bill along which would radically change the face of financial services. The legislation, if passed would substantially decrease the restrictions presently in place on the ability of banks, insurance companies and securities firms to expand into each other's industries. Strong disagreements remain between Sen. Phil Gramm, R-Texas, who heads the Senate Banking Committee, and President Clinton, over the measure's treatment of the Community Reinvestment Act. Negotiations will resume today. E-shares to be the class of the future? From The Mutual Fund Cafe E-shares, or mutual fund shares typically purchased on the Internet could turn out to be the wave of the future. Currently only Schwab and E*Trade offer this share class, with about $460 million in five funds, but several other fund groups have filed for the new share class. In addition to the electronic purchase of E-shares, the fund investor usually agrees to accept prospectuses, shareholder reports, and account statements through electronic distribution. Printed from: MFWire.com/story.asp?s=25061 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |