Individual service no longer just for tycoons

Article Abstract:

Investment companies have expanded their individual service to accounts worth as little as $50,000. The move was made to snatch mutual fund industry's wealthiest and most profitable customers. The minimum investment requirement of $50,000 is predicted to further decline as more investment management companies have begun offering this service. Individual managed accounts are already valued at $261.9 billion in early 2000, up from Dec 1999's $241.4 billion.

Services introduction

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Fund managers' compensation continues to soar

Article Abstract:

A survey of more that 30 fund companies showed that stock mutual fund managers' total compensation increased by 9.3% in 12 months ended Mar 2000. The average fund manager takes home $341,000 in salary and bonuses, while superstar managers are able to earn a minimum of $500,000 in base salary, according the study by Buck Consultants. The base salary given by an average fund company to its CEO rose by 27%, from $439,000 to $556,000.

Personal income information

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Flurry of index funds floods market

Article Abstract:

The mutual fund industry has seen a drastic increase in the number of index funds seeking Securities and Exchange Commission approval. This is seen as an effort to emulate the Vanguard 500 Index fund which attained a total of $106 billion and tracks the Standard and Poor's 500-stock index. Investors have put in approximately $16.1 billion into the fund since the start of 1999.

Market information - general

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