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 |
|
Monday, May 1, 2000 May 1, 2000 Reliastar snapped up by ING From The New York Times Reliastar Financial, which has been on an acquisition tear of late, has in turn been acquired by Dutch Financial giant ING Group for $5.1 billion dollars. ING already owns Equitable of Iowa and the U.S. investment firm Furman Selz and has reportedly been seeking another US life insurer for two years. Reliastar, which has $38.4 billion under management, had purchased Pilgrim Capital, which includes the Nicholas-Applegate Funds, and the Lexington Funds in the past year. Rydex reveling in risky niche From The Wall Street Journal Over the past year, Rydex's assets doubled to $7.7 billion and its staff has doubled in order to keep up with the growth. Much of the strong interest in Rydex, perhaps the best-known of the fund families that welcome market timers, is the continued volatility of the markets, and making its group of highly liquid index funds highly attractive to market timers. But the threat to this attractive and profitable niche will be in the form of ETFs, many of which are slated to be launched in the second and third quarters of 2000. Printed from: MFWire.com/story.asp?s=25476 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |