MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, February 2, 2001 February 2, 2001 Janus Cutting 468 Jobs From Wall Street Journal Janus Capital plans 468 job cuts -- 16 percent of its workforce -- from investor communications, operations, training and support services, the paper reports. The report cites a fall-off in shareholder call volume in wake of technological upgrades, including its December Web-site enhancements. The firm also has fewer open mutual funds. It adds that investment staff and fund managers will not be affected. Half the cuts will be made in Denver and half from, Austin, Texas. What Would Make American's Dislike Stock Funds? From Boston Globe "Americans are addicted to their stock mutual funds," write Syre and Stein. They point to the record $309 billion inflow into stock funds in 2000. They also wonder what it would take to make Americans lose their infatuation with stocks. Their answers: a sustained period of lackluster returns or outright losses, Or "some event that gets people so concerned about the future that they get extremely conservative.'' SSgA Forms Euro Partnership From Boston Herald The paper reports that State Street (the parent of SSgA) has partnered with APB to create State Street Global Alliance. The new firm will invest in European fund managers and other financial services firms. Printed from: MFWire.com/story.asp?s=26395 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |