News
August 18, 2008
Court Rules Against IRS’s Tax Position on Insurance Company Demutualization
No taxes on stock conversions, but ruling may not be advantageous to all policyholders
By Melanie Waddell
A recent federal court decision ruled against the IRS’s stance that policyholders who receive stock in a mutual-to-stock conversion of an insurance company—known as a demutualization—must ...
August 11, 2008
Vanguard Explorer Reopens
New investors welcome also to firm’s big healthcare fund
By Kara P. Stapleton
The latest in a number of major mutual funds reopening to new investors, Vanguard announced August 7 that it has made its Vanguard Explorer Fund and Vanguard Health Care Fund available to new ...
Barclays Launches 529 Plan With a Twist
Arkansas plan will use only iShares ETFs
By Kara P. Stapleton
Barclays Global Investors and Upromise Investments recently launched the iShares 529 Plan, the first 529 plan designed with portfolios that invest exclusively in iShares Exchange Traded Funds (ETFs).
Matthews to Re-Open Two Regional Asia Funds
Growth and Income, Pacific Tiger to reopen in September
By James J. Green
The Matthews Asian Funds said it will re-open two of its no-load mutual funds to new investors on September 2.
Morningstar to Acquire Maker of dbCAMS
Will incorporate portfolio management software into Principia
By James J. Green
Morningstar Inc. announced August 11 that it will acquire Oakland, Maryland-based Financial Computer Support Inc. (FCSI), the maker of the dbCAMS+ portfolio management software. ...
Hedge Fund Pioneer Jack Nash Dead
Former chairman of Oppenheimer was 79
By James J. Green
Jack Nash, the refugee from Nazi Germany who helped change the mutual fund industry in his career at Oppenheimer & Co. ...
August 7, 2008
Securities America Acquires Brecek & Young
Alliance marries similar, complimentary services
By Melanie Waddell
Furthering the consolidation trend in the independent broker/dealer industry, Securities America Financial Corp. ...
