Industry group buying NECX

Article Abstract:

NECX will be acquired by Converge from Horsham, Penn.-based Vertical Net for $60 million in cash and a 19.9% stake in Converge. Converge is a consortium of fifteen technology firms, which includes Canon and Hewlett-Packard.

On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Internet services, Vertical.Net Inc., NECX.com LLC, Converge Inc.

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51% of Friess Associates sold to Boston company

Article Abstract:

Friess Associates sells 51% of firm to Boston group. Fund manager Foster Friess to retain 30% of company and receive $247 million from Affiliated Managers Group Inc. for controlling interest in company.

Investment advice, Investment Advisory Services, Investment advisers, Company Profile, Friess Associates, Affiliated Managers Group Inc.

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Vanquard closes Health Care Fund to new investors; the high returns brought in too much money, the fund company said. Current shareholders can add to their holdings

Article Abstract:

The Vanguard Group Inc. has decided to close its Health Care Fund to new investors due to an influx of too much cash. The company justified the decision to restrict investment in the mutual fund based on the likelihood that short-term investors would pull out of the fund as soon as its profitability slowed down. The $10 billion dollar fund has been Vanguard's top performer for the last five years.

Financial management, Open-End Investment Funds, Management investment, open-end, Mutual Funds (Open End), Abstract, Open end mutual funds, Vanguard Group Inc.

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