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 |
|
Friday, September 15, 2000 September 15, 2000 Fidelity Urges Customers to Lobby Congress From Wall Street Journal Fidelity is aggressively courting investors to write Congress in support of the pending pension reform legislation. The Boston Behemoth is using its Web site in a tool in its campaign to lobby legislators. Critics say that the campaign is also failing to inform investors of some downsides to the package. On Aug. 31, Fidelity posted content on its Web page urging investors to e-mail Congress in support of the legislation. The page also links to the Securities Industry Association's Web site which provides a form letter to Senators in support of the measure. Critics include AARP and the Pension Right Center. SunAmerica's Broad to Resign From Los Angeles Times Billionaire Eli Broad, who ranks number 48 on the Forbes 400, is planning to step down as chief executive of SunAmerica next Jan 1. Chief Operating Officer Jay Wintrob is expected to succeed Broad as chief executive. Broad will retain his position as chairman of SunAmerica and his board seat at AIG. He plans to devote more time to philanthropy. Broad is 67 years old. American International Group purchased SunAmerica for $16.5 billion nearly two years go and Broad's stock in AIG is now valued at roughly $4.5 billion. "Eli did a fantastic job building SunAmerica into the country's leading retirement savings company, and I am delighted that he will continue to help guide its strategic policies," said Maurice Greenberg, chairman of AIG. He added that "Jay has really been running SunAmerica for the past year." Real Estate Funds Are Back From Boston Globe Real estate funds are on the comeback trail. The median REIT fund earned roughly 21 percent through Sept. 7 compared to 3.1 percent for the S&P 500. The article says money flows are playing more of a role in the return of real estate than industry fundamentals. It seems some investors are fleeing to the sector for safety and high dividends. Printed from: MFWire.com/story.asp?s=25901 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |