Pilgrim faces 2d sale in 3 years

Article Abstract:

Pilgrim-Baxter and Associates Ltd., a mutual fund company in Chester County, PA, is being geared for a possible sale by its parent United Asset Management of Boston, MA, to Nationwide Financial Services of Columbus, OH, an insurance company. Officials of Nationwide and United Asset have refused to confirm whether the sale will cover a recently launched customer service center in the Chesterbrook section of Tredyffrin Township. Pilgrim-Baxter's funds have been tail-enders in the market. Its managed assets dropped from over $20 billion in early 1997 to $12.5 billion as of the previous week, according to United Asset officials.

Comment:

May potentially acquire Pilgrim-Baxter and Associates Ltd from its parent United Asset Management Corp

Asset sales & divestitures, Acquisitions & mergers, Pennsylvania, Nationwide Financial Services Inc., United Asset Management Corp., Pilgrim-Baxter and Associates Ltd.

---

Battered old stalwart will stay the course

Article Abstract:

Vanguard Group's Windsor Fund, a staple of 401 (k) and other retirement plans at over 2,000 institutions, has dropped by $7 billion since April 1998. The drop is the effect of the declining stock market in Summer 1998. Some of the fund's well-known investments, counting its largest holding, Citicorp, have partly contributed to the decline of the stock market. However, a manager at the fund is not giving up on such stocks as those of AT and T, Caterpillar and Rhone-Poulenc, and even Citicorp. The manager says these companies can be profitable because of the expected international economic recovery in the future.

Comment:

Co's Windsor Fund, staple of 401 (k) & other retirement plans at over 2,000 institutions, drops by $7 billion since April 1998

United States, Financial assets, Vanguard Group of Investment Cos.

---

Teachers' fund in Vanguard turf

Article Abstract:

The Teachers Insurance Annuity Association - College Retirement Equities Fund, a large college pension fund in the US based in New York, has developed six no-load mutual funds to public investors at low rates after concentrating previously on college academic investors. The profit-oriented pension fund manager is known for handling $235 billion for US college professors. Its biggest competitor in the mutual fund market is the second-biggest mutual fund manager Vanguard Group. Vanguard Group is also the quickest-growing mutual fund manager to date.

Comment:

Has developed six no-load mutual funds at low rates after concentrating previously on college academic investors

Marketing procedures, New York, Teachers Insurance and Annuity Association - College Retirement Equities Fund

Similar abstracts:

• Abstracts: CBS cuts nuclear offers to two. WE sold, will stay. Emerson buys WE control division
• Abstracts: Canceled contract reduces Pa. firm's earnings. Health-care firm looks to the long term. HMOs posted losses totaling $768 million last year, study finds
• Abstracts: AHERF losses soared at end of year. Workers, mansion both to go. Tennessee firm may buy AHERF hospitals in Phila
• Abstracts: Biotech firm alleges 'illegal' short-selling of stock. How old can bills be and still haunt you?
• Abstracts: Unusual ads mirror the makeover of Unisys. Long routes, uncertain roads. A new Herr set to hawk potato chips

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.