MFMarketNews Weekly Web Flash
October 8, 2001
MFmarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week here are some Web exclusives you missed:
* Stilwell Financial announced it will purchase 600,000 Janus Capital shares held by Janus CEO Thomas Bailey for approximately $603 million, giving it a 97.8% stake in the Denver-based fund company.
* The Vanguard Group will add a new actively managed value fund to the 19 managed funds it currently offers. The Capital Value Fund's investment adviser will be Wellington Management, which will select small-, mid- and large-cap stocks that it considers "undervalued or out-of-favor," the company said in a statement.
* Citing an unexpected number of small, dormant accounts among its investors, TIAA-CREF announced that it will increase minimum investments needed to open a fund account from $250 to $1,500.