LITTLE FALLS, N.J. -- BISYS Fund Services and Asset Publishing Inc., Minneapolis, formed a strategic alliance to provide marketing communications for BISYS' more than 60 mutual fund clients.
BISYS does third-party administration for domestic and offshore mutual funds.
Asset Publishing will provide design, creative, production and printing services to mutual fund companies. Asset Publishing specializes in communications for the investment industry.
Dreyfus site targets third parties
NEW YORK -- The Dreyfus Corp. launched a Web site dedicated to third-party mutual fund distributors, such as brokers, investment advisers and banks.
The site (www.LIONSales.com) provides product information about institutional money market funds, the Dreyfus Premier Funds, no-load mutual funds and proprietary and nonproprietary insurance products available through Dreyfus Institutional Services.
It also offers market analysis and commentary, daily pricing and performance data, trading and inquiry capabilities and automatic delivery of fund literature.
Future enhancements will include financial planning and seminar tools, interactive marketing materials, sales contacts and a public relations section for news about Dreyfus.
* Prudential Investments, Newark, N.J., reopened the Prudential 20/20 Focus Fund July 27 to new investors. The fund received almost $500 million in the four weeks of its initial subscription period and was closed temporarily to give the fund's comanagers, Tom Jackson and Spiros Segalas, time to build their stock positions before accepting more cash. Mr. Jackson is a value manager and Mr. Segalas is a growth manager. Each applies his style in selecting 20 stocks apiece.
* Scudder Kemper Investments Inc., New York, launched the Scudder Dividend & Growth Fund. The no-load fund seeks high current income and long-term capital appreciation by investing in income-paying equities. The fund uses a three-step approach, investing mainly in dividend paying common stocks, convertible securities and real estate investment trusts. The lead manager is Robert Hoffman, supported by Lori Ensinger and Nick Anisimov.
* Transamerica Premier Funds, Los Angeles, introduced the Transamerica High Yield Bond Fund. Lead manager Heather Creedon will invest primarily in debt instruments and convertible securities, emphasizing securities rated between Ba2 and B2 by Moody's Investors Service, New York, that she believes are likely to be upgraded. Ms. Creedon has managed a high-yield bond separate account for Transamerica since 1991. All assets in the separate accounts were transferred to the mutual fund. Stephen Ahearn is comanager.
* The Chase Global Mutual Funds Group, New York, introduced the Chase Vista Focused Fund, a concentrated portfolio of 25 stocks. At least 80% of the assets of the portfolio will be invested in companies with a market capitalization of more than $1 billion. No more than 25% of the fund will be invested within a single industry. The portfolio managers are David Klassen, director of U.S. equity funds management and research; Greg Adams, senior portfolio manager; and Pamela Carlton, director of U.S. equity research.
* Aetna Inc., Hartford, Conn., added seven funds to its mutual fund family, bringing the total to 19. All of Aetna's funds are subadvised by its subsidiary, Aeltus Investment Management Inc., and use a largely quantitative investment strategy.
Among the new offerings are three index funds: the Aetna Index Plus Bond Fund, the Index Plus Mid Cap Fund and the Index Plus Small Cap Fund.
Other new funds are the Aetna Mid Cap Fund, managed by Donald Townswick; the Aetna Value Opportunity Fund, managed by Peter Canoni; the Aetna Real Estate Securities Fund, managed by Yaniv Tepper; and the Aetna High Yield Fund, managed by Gail Bruhn.
* Stein Roe & Farnham, Chicago, attracted $39 million during the 38-day subscription period for its new Stein Roe Large Company Focus Fund. The fund received an additional $5 million on the first day it opened to general investment, June 26. Fund manager David Brady will invest in a concentrated portfolio of between 15 to 25 stocks with strong growth potential and market capitalizations of more than $5 billion.
* INVESCO Funds Group, Denver, added the INVESCO Growth & Income Fund. Lead manager is Trent May; Fritz Meyer is comanager.
Christine Williamson may be reached at [email protected]