Fidelity names new top manager
Article Abstract:
Fidelity Investments of Boston, MA, the biggest fund company in the US, has named Gail McGovern as head of its retail mutual fund and brokerage businesses. She replaces J. Gary Burkhead, who will remain on the company's board of directors. A former AT&T executive, McGovern will not only oversee the day-to-day operations of the retail mutual fund and brokerage business, but also its marketing efforts.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Rule wants to show tax impact
Article Abstract:
Mutual funds will be required to report after-tax returns for one-, five- and 10-year periods in annual reports and prospectuses under a proposal by the Securities and Exchange Commission. The proposed rule is intended to make fund managers more sensitive to what has been a sore point among shareholders. Funds usually only report pretax returns, so shareholders might not know the impact of taxes.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Exchange-traded stock funds hit it big with investors
Article Abstract:
Mutual fund companies are jumping in the exchange-traded fund (ETF) bandwagon. Vanguard is launching five ETF products and Barclay is expanding its ETF portfolio with 28 more ETFs. Basically a basket of stocks traded on stock exchanges, an ETF typically reflects popular stock indexes, such as the Standard & Poor's 500-stock index. ETFs have become popular because of their convenience and the fact that they are more tax- efficient than index funds.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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