Fidelity's charity fund wins IRS approval

Article Abstract:

Fidelity Investments has won approval from the Internal Revenue Service for its $1.3-billion Charitable Gift Fund. The IRS upheld the fund's registration as a charity with donors assured of immediate deduction for money given to the fund. Donors have the right to determine which of the four accounts can have the investment and may dictate the manner and period of disbursement. The IRS stipulates that charitable funds must provide safeguards to ensure that money really reverts to charitable causes. The Service also said there must be guarantees that the fund will pay out money.

Comment:

Has won approval from the Internal Revenue Service for its $1.3-billion Charitable Gift Fund

Government regulation (cont), Open-End Investment Funds, Mutual Funds (Open End), Fidelity Investments Inc., Open end mutual funds, Article

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A star is reborn after shake-up

Article Abstract:

Chicago, IL-based Morningstar started a shakeup in Oct 2000, that had the mutual fund industry abuzz. The move was triggered by the fact that the company did not turn a profit in 2000, despite revenues of $71 million. Ad spending, consultants and new ventures ripped through $40 million during the year. Despite its troubles, Morningstar has a valuable product, its highly regarded and lucrative mutual fund database.

Strategy & planning, Other Financial Vehicles, Mutual Funds (Closed End), Closed end mutual funds, Morningstar

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WTO admits China,Taiwan as members

Article Abstract:

World Trade Organization admits China and Taiwan. Industry analysts say China could be the economic powerhouse of the future with Taiwan also adding to the economic benfit of the region.

Taiwan, China, International economic relations, Legislative Bodies, Foreign Affairs, Industry Overview

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