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 |
|
Tuesday, December 12, 2000 December 12, 2000 Merrill Raises Fees From Wall Street Journal Merrill is raising the price on new accounts in its two-year old "Unlimited Advantage" account to 150 basis points from 100 basis points. The accounts are reported to hold $100 billion in assets and the pricing change could bring in more than $100 million in extra income. The firm unveiled the price increase yesterday in a conference call with its brokers. The price for funds will remain at 100 basis points and bonds and cash will be charged 30 basis points. Jupiter Founder Claims £2 billion in Assets at New Fund From Wall Street Journal John Duffield, ex-head of London-based Jupiter Asset Management has formed New Star Asset Management. Duffied, 61, was forced out of the mutual fund firm seven months ago by its parent Commerzbank. The two sides settled a lawsuit over the dismissal with a $7.2 million package for Duffield. Jupiter will also transfer 300 million pounds of offshore assets to New Star. In his new venture he is reportedly seeking to lure defectors form Jupiter when a six-month moratorium on poaching staff ends. Next month, Jupiter is expected to offer a "generous share package for employees" with the aim of retaining staff. Duffield claims a staff of 14 fund managers and 2 billion pounds in assets. MFS Value Fund Manager Pleased From Boston Globe Lisa Nurme, manager of the MFS Equity-Income, is reportedly having a lot more fun coming to work this year than last year. The fund, which is being rebranded as MFS Value, stuck to its value discipline and is up 25 percent this year. It ranks third of 211 equity-income funds. Printed from: MFWire.com/story.asp?s=26027 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |