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, July 17, 2001 UK's Gartmore Exits Indexing State Street Global Advisors (SSgA) is taking over the passive equity portfolio of Nationwide's Gartmore Investment Management in the United Kingdom. The portfolio is valued at more than $25 billion. Alan Brown, chairman of SSgA UK, said that the business is a "natural fit". Glyn Jones, chief executive of Gartmore, explained that the firm will focus exclusively on active management going forward. * * * Bear Stearns Asset Management has lured John D. Coyle from Merrill Lynch Investment Managers to join its equity team. Bear Stearns manages $6 billion in assets under the team, including $2 billion in the Bear Stearns S&P STARS Portfolio. * * * Pershing is beefing up the information it carries for investment advisors who use its services. Late last week the firm unveiled a partnership that will allow its 300 Investment Manager Services Group clients using NetExchange Pro to access Dow Jones' Investment Advisor Service's news and information. NetExchange Pro is primarily used by broker-dealers. IPartners, which is more tailored to RIAs, will carry Dow Jones News Wire. Advisors will be charged a fee to use the service. * * * Dreyfus named A. Paul Disdier to replace Richard J. Moynihan, who is retiring as director of its Tax-Exempt Securities Division. Disdier will be responsible for management of the firm's $23 billion o f municipal bond and money market funds. * * * Morningstar Korea is the fund-tracker's lates venture. The Web-based service carries info on 1,000 Korean beneficiary certificates and more than 110 off-shore mutual funds authorized for the Korean market at http://www.morningstar.co.kr. Korean fund analysts will populate the site with real-time market news, fund commentary, educational reports, feature stories and proprietary data, said Harry Choi, ceo Morningstar Korea. * * * Merrill Lynch is offering a new process to put international investment management products on an apples-to-apples comparison. The open-architecture platform will enable 1,800 financial consultants in 44 countries to custom select investment products for clients. The platform is based on the open architecture fund choice model it has used in the US for 15 years. Printed from: MFWire.com/story.asp?s=26798 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |