Mutual attraction is back

Article Abstract:

Mike Spaniola is one of the numerous investors who are putting their money back on mutual funds after briefly ignoring the latter in 1999. For Spaniola, only fund managers would thrive in the current bear market since they have the time to research stocks. Trimtabs.com, which monitors mutual funds, estimates that as much as $41 billion have been poured into mutual funds for Mar 2000 only. For instance, discount brokerage Charles Schwab received as much as $3.2 billion from investors for this month, eclipsed only by the $4.6 billion it got from investors on Feb 2000.

Contracts & orders received, Investment companies

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SEC Proposes mutual fund fix

Article Abstract:

US Securities and Exchange Commission Chmn Arthur Levitt has asked mutual fund executives to create a more independent board of directors. To ensure that a majority of the directors are independent, Levitt has suggested that independent directors be nominated by other independent directors. He has also suggested that the legal counsel for independent directors be independent from the firm and that the funds should be more willing to share information about their directors.

Government regulation (cont)

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