Weekly Web Roundup
January 28, 2002
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:
* Equity funds posted modest inflows of just less than $2 billion in December, a substantial decline from the previous month when investors socked more than $10 billion into the products, according to fund researcher Lipper.
* Merrill Lynch Investment Managers reported that fourth quarter earnings were down 61% compared to the same period a year earlier and revenues were 22% lower than in 2000. The company said its results were impacted by a decline in the markets which had a negative effect on its assets under management as well as litigation costs stemming from its reported lawsuit with Unilever over Merrill's management of the company's pension fund.
* American Century, Vanguard, Frank Russell Company, MFS and SEI Investments all made Fortune magazine's 100 Best Companies to Work For list for 2001. All of the companies had appeared on the list last year, but three of the five dropped in rank. SEI and Frank Russell climbed from 45th to 44th and 13th to 11th, respectively.