Mergers put more funds on extinction list

Article Abstract:

The number of mutual funds are certain to become smaller due to mergers. In 1998, 382 mutual funds became non-existent due to mergers, an increase of 39% from 1997. Shareholders who are asked to approve mergers are often offered shares in the new fund which are equivalent to the value of their former fund. They are not required to pay capital gains taxes and the merged fund often provide superior performance compared to the old fund.

Acquisitions & mergers

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Internet clicks for '98's hottest funds

Article Abstract:

Mutual funds investing in Internet stocks were the top performers in 1998, according to Lipper. The Internet Fund and Munder Netnet, two Internet funds, posted returns of 196% and 98%, respectively. Fund managers of both companies say they invest only in Internet companies with long-term potential, avoiding overnight sensations such as Zapata, a fish oil maker which saw its stock rise 118% after announcing that it was exploring Internet ventures.

Sales, profits & dividends

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