Investment News articles from December 2003

Investment News archives from December 2003

Schwab's separates success a warm-up; The firm trails only wirehouses in managed accounts.(News)
December 1, 2003... Byline: Brooke Southall Now nobody stands between Charles Schwab & Co. Inc. and the wirehouses in the managed-accounts business. But the San Francisco broker says it is just warming up as it charts major improvements in its program...

LTC only for the wealthy?(Opinion)
December 1, 2003... Long-term-care insurance, a key part of a financial plan for anyone at or beyond middle age, may become harder to find and more expensive. As we have reported this year, some insurance companies have found such insurance unprofitable and...

401(k) Planner slips as it courts small investors; Struggles to automate web advisory service.(News)
December 1, 2003... Byline: David Hoffman Advising investors how best to manage their assets can be tricky - especially when they don't have many assets to manage. That is the lesson Jonas Ferris, founder of MAXfunds.com Inc. in Portland, Ore., says he...

IPO market begins to awaken from its very deep slumber; Number of offerings picks up after a sluggish first half.(News)
December 1, 2003... Byline: Jeff Benjamin With shares of Buffalo wings and a murder mystery movie called "Billy Dead'' being introduced as investment opportunities, it might appear that the initial public offering market is starting to wake up. In fact,...

Short Interests: FPA goes whole hog on pro bono planning effort.(News)
December 1, 2003... Byline: Rick Miller, Sara Hansard and David Hoffman Deeming pro bono work a significant part of the financial planning community, the Financial Planning Association announced last week the formation of a pro bono advisory committee. ...

Charities to improve their governance; Push to implement Sarbanes-Oxley provisions.(News)
December 1, 2003... Byline: Frederick P. Gabriel Jr. To stave off regulators and appease increasingly suspicious donors, a growing number of public charities are voluntarily implementing some of the provisions required by the Sarbanes-Oxley Act. Some...

SEC vetting insurers' asset allocation products; Life insurance companies may face other regulatory issues.(News)
December 1, 2003... Byline: Sara Hansard The Securities and Exchange Commission has sent letters to insurance companies asking for information about products with variable rates of return that automatically reallocate assets. The insurance companies may...

Scandals don't equal poor performance; Difficult link: Returns, questionable trading.(News)
December 1, 2003... Byline: David Hoffman Late trading and market timing have not overtly hurt mutual fund investors, an InvestmentNews analysis of the fund groups involved in the trading scandal suggests. The analysis shows it's difficult to draw a...

Monday Morning: Scandals will make fund industry stronger.(News)
December 1, 2003... Byline: Jim Pavia "Investors have short-term memories,'' said an adviser during a lunch conversation at Charles Schwab & Co. Inc.'s recent IMPACT Conference. Another financial adviser commented that not one client has raised the...

Harris Trust breathes new life into MyCFO; Angles to get a return on its investment.(News)
December 1, 2003... Byline: Brooke Southall My goodness, MyCFO lives. Harris Trust & Savings Bank of Chicago quietly scooped up the majority of the assets of the high-profile Silicon Valley startup after it seemed to drop off the radar. Although that...

AmEx woos wirehouse brokers; Its history of broken payout promises may hurt effort.(News)
December 1, 2003... Byline: Bruce Kelly As part of its effort to lure wirehouse brokers, American Express Financial Advisors Inc. is carefully opening up its platform. Although the Minneapolis-based company has been talking about hiring outside advisers...

Taking Sides: Mutual fund boards need independent chairmen.(Opinion)
December 1, 2003... The Senate should fix a glaring weakness in the mutual fund reform bill recently passed by the House of Representatives. The weakness: The bill does not require independent chairmen for mutual fund boards. This proposal was stripped...

Fast Track: Benefits compliance vet now a lobbyist.(News)
December 1, 2003... Byline: Sara Hansard Employee benefit plans have come under scrutiny in the past few years, intensifying recently with the implosion of 401(k) plans at Enron Corp. Entering the fray as policymakers focus on retirement plans is Jan...

Brokers knock proposal on fund sales pacts; Advisers question its cost and effectiveness.(News)
December 1, 2003... Byline: Bruce Kelly Many broker-dealers are balking at proposed NASD rule changes concerning sales agreements with mutual fund companies. In recent comment letters to the association over proposed rule changes, a number of brokerage...

Moving Up.(News)
December 1, 2003... * The Phoenix Cos. Inc. in Hartford, Conn., has named John F. Sharry, 51, senior vice president of marketing and asset management distribution, to head the newly centralized marketing operation for its three product lines: life insurance,...

Advisers oppose a soft-dollar ban; Concerned a reform could `wipe out' independent research.(News)
December 1, 2003... Byline: Sara Hansard Independent researchers and financial advisers are sounding alarms against a call to ban so-called soft dollars. If the practice were banned, funding for independent research could dry up. In testimony given early...

Fund scandals usher in flexibility for some college plans; Most changes come in states using Strong.(News)
December 1, 2003... Byline: Rick Miller An upside of the mutual fund scandal is that some state-sponsored college savings plans are starting to give investors more options - a trend some think will spread across the industry. The state of Wisconsin, which...

One on One: "The greatest analyst is the stock market itself".(News)
December 1, 2003... Byline: Bruce Kelly Jeffrey Weiss has been obsessed with stock charts since he was a teenager. Now 47, he thinks the charts tell the real story of the market and the direction in which it is likely headed. The Wall Street veteran has...

At the Bell.(Late News)
December 1, 2003... J.P. Morgan to buy benefit payment unit * J.P. Morgan Chase & Co. has agreed to buy a Citigroup Inc. benefits payment provider for $380 million in cash to strengthen its public-sector-services offerings. The deal involving the New York...

Street Wise: Prosperity reigns in international small-caps.(The Markets)
December 1, 2003... Byline: Jeff Benjamin Thinking small has generated some big returns for the international-small-stock specialists at Fiduciary Trust Company International in New York. Through the first 10 months of 2003, the institutional-class...

Fund firms risk missing the rollover boom; `Power boomer' study: IRA assets fund heavy.(News)
December 1, 2003... Byline: David Hoffman Mutual fund companies are going to have to pay more attention to the individual retirement account rollover market if they plan to remain competitive in the next decade. That's the conclusion Chris Brown, an...

Reverse Spin: Economy no turkey in the third quarter.(Briefs)
December 1, 2003... Byline: Frederick P. Gabriel Jr. In case you were at a loss for things for which to be thankful last week... On Tuesday, the Department of Commerce reported that gross domestic product, a major indicator of the economy's health, had...

Tax Watch: Vote on Internet tax moratorium still possible.(News)
December 1, 2003... Byline: Mark Battersby Although the U.S. Senate recently postponed a vote on extending an Internet access tax moratorium permanently, Congressional staff members still hope to bring the measure to a vote. Unfortunately, finding time on a...

Datebook.(Calendar/Datebook)
December 1, 2003... DECEMBER 4 - Update '03, The American College. Bryn Mawr, Pa. (610)526-1202 or amercoll.edu. 7-9 - Alternative Investing Summit, Opal Financial Group. Ritz Carlton Laguna Niguel, Dana Point, Calif. (949)240-2000. 8 - Capitalizing...

Don't slash the SEC's budget.(Opinion)
December 8, 2003... Congress is demanding that the Securities and Exchange Commission take command of the scandals that have rocked the $7 trillion mutual fund industry. So how does Congress assist the SEC as it plans a major overhaul of the mutual fund...

Investment Strategies: Educate yourself about what's inside 529 plans.(News)
December 8, 2003... Byline: Richard A. Feigenbaum Financial advisers who recommend and sell 529 college savings plans should expect to be called upon to analyze the nuances of the fund offerings that make up these investment products. Many of the more...

Broker-dealer survey is in the e-mail.(News)
December 8, 2003... The questionnaire for the 2004 Top Independent Broker-Dealer survey and rankings has been e-mailed to the appropriate contacts at more than 100 firms. If for some reason your independent broker-dealer didn't receive an e-mailed...

Latest fund probe: Selective disclosure; Rules on portfolio disclosure seen as hazy.(News)
December 8, 2003... Byline: Brooke Southall The next big shoe to drop on the mutual fund industry may be masquerading as a slipper in the back of the closet. So far, most of the hullabaloo related to the mutual fund scandal has revolved around the issue...

Atlas is up for sale - but fast.(News)
December 8, 2003... Byline: Bruce Kelly Jon Erdner is looking to sell his midsize independent broker-dealer, Atlas Brokerage Co. LP, to an in-house executive duo who want to expand the firm aggressively. But the potential buyers of the Washington,...

Despite the risks, sector funds may be coming back into style; Funds' comeback bothers some advisers.(News)
December 8, 2003... Byline: David Hoffman Sector funds may be coming back into vogue, and some financial advisers aren't happy about it. After all, advisers remember when investors caught up in the technology craze poured money into tech funds, only to...

Datebook.(Calendar/Datebook)
December 8, 2003... DECEMBER 10-12 - IMCA Consultants Conference, Investment Management Consultants Association. Park Hyatt Beaver Creek (Colo.) Resort and Spa. (303)770-3777 or imca.org. 15-16 - Effective Managed Account Sales and Distribution...

SEC waits to see effects of new rules: SRO remains a possibility.(News)
December 8, 2003... Byline: Sara Hansard The possibility of a self- regulatory organization for mutual fund companies and investment advisers is still alive. The adoption by the Securities and Exchange Commission of new compliance rules for all federally...

SEC proposals include a 4 p.m. cutoff.(News)
December 8, 2003... Byline: Sara Hansard Under proposals made last week by a unanimous vote of the Securities and Exchange Commission, fund orders would have to be received by 4 p.m. Eastern time by the mutual fund company; its transfer agent; or Fund/SERV, a...

Pros and cons of stock option valuation methods; The intrinsic-value, binomial and Black-Scholes methods all have unique advantages and disadvantages.(Opinion)
December 8, 2003... Byline: Todd Patrick & Brent Shockley Eight years after the Financial Accounting Standards Board first proposed that companies treat employee stock options as expenses when reporting earnings, it has finally decided that that is their only...

Tax Watch: IRS helps taxpayers recoup 'gratuity' benefits.(News)
December 8, 2003... Byline: Mark Battersby The Internal Revenue Service is already helping taxpayers use a new tax law providing income exclusions for death benefit payments and certain home sales. Both provisions were retroactive, so some qualifying...

One on One: "The fund industry is going to get the most thorough scrubbing it has ever gotten".(News)
December 8, 2003... Byline: Jeff Benjamin When Don Phillips joined Morningstar Inc. fresh from graduate studies in literature in 1986, he saw the move as a chance to practice two of his passions - investing and literature. His desire to blend literature...

Product Watch: Web-based order entry system simplifies trading.(News)
December 8, 2003... National Planning Holdings Inc. in Santa Monica, Calif., has launched Electronic Order Entry, a web-based transaction-processing system designed to simplify how independent financial advisers enter, process and transact business. It...

Moving Up.(News)
December 8, 2003... * New York Life Insurance Co. has appointed Frederick J. Sievert and Sy Sternberg to the newly created office of the chairman. Mr. Sievert, 55, is president of New York Life. Mr. Sternberg, 60, has been chairman and chief executive since 1997....

Health savings accounts now open for business.(News)
December 8, 2003... Byline: Sara Hansard Congress has expanded savings accounts that can be used to pay high deductibles for health insurance policies and added a "catch-up'' contribution feature to the accounts for people between the ages of 55 and 65. ...

Reverse Spin - Hard sell: Strong Capital on the block.(Briefs)
December 8, 2003... Byline: Frederick P. Gabriel Jr. If Strong Capital Management Inc. were a house for sale, it might be described like this: "A real fixer-upper that comes with a past. Located in quiet neighborhood. As is.'' On Wednesday, the Menomonee...

Tax bite of Vanguard's new VIPERs debated; Will they measure up to existing ETFs?(News)
December 8, 2003... Byline: David Hoffman The Vanguard Group Inc. in Malvern, Pa., may become a major player in the exchange-traded-fund arena later this month, when it is expected to unveil exchange-traded share classes for most of its domestic-fund indexes...

New trend a reaction to federal rulings: Mutual funds that hedge edging into VA market.(News)
December 8, 2003... Byline: Rick Miller Mutual funds that use hedging strategies are finding their way into variable-annuity subaccounts - a move some expect will snowball in the coming year. "It's definitely an emerging trend,'' says Lisa Plotnick,...

At Issue: Client service, ideally seamless, simply seems less.(Opinion)
December 8, 2003... Your Nov. 17 Monday Morning ["Take no chances with customer service''] is right on the money. As a longtime practitioner in both the insurance and investment world, I am appalled at current levels of customer service. Essentially, the term has...

Taking Sides - Learn the basics: A fiscal education is essential.(Opinion)
December 8, 2003... About half of investors polled recently believed erroneously that stock market losses are insured, while 70% were unaware of the risks of buying stocks on margin. These were among the findings of a survey by NASD, which announced the...

At the Bell.(Late News)
December 8, 2003... A top Schwab exec for sales is moving * J. Nicholas Georgis, senior vice president and national sales manager of Schwab Institutional, gave his firm notice last week that he is pursuing other opportunities inside and outside his company....

Street Wise: Growth and value managers coexisting profitably.(The Markets)
December 8, 2003... Meet Ken Siegel and Rick McCall, two money managers working from somewhat opposing directions to oversee a single portfolio that essentially considers the world's financial markets. While they rarely need to speak directly to one another,...

Short Interests: Rich snub funds in favor of alternative investments.(News)
December 8, 2003... Byline: Sara Hansard and Brooke Southall Even before the recent mutual fund scandals broke this past fall, households with a net worth of at least $5 million had reduced their fund holdings to 6% of investible assets. That is a marked...

Gay couples to reap financial benefits; Advisers with gay clients need to pay attention.(News)
December 8, 2003... Byline: Rick Miller Eager to tie the knot with her partner of nearly 25 years, financial planner Sharon Rich says she's already planning a May 18 wedding - six months after a state Supreme Court ruling endorsed gay marriage. "If...

Monday Morning: Advisers should take a cue from physicians.(News)
December 8, 2003... Byline: Mike Clowes Financial planners should consider themselves financial physicians and pattern their services on those of doctors, according to Meir Statman, professor of finance at Santa Clara (Calif.) University. Speaking at...

New hire's Capital idea: Target high-end advisers.(News)
December 8, 2003... Byline: Brooke Southall Matthew D. Mason III thinks of his recent stint at SEI Private Trust Co. in Oaks, Pa., as a lost year because the parent company, SEI Investments Co., never made selling trust services a priority. "They had a...

Curian set to move into money management; Firm will manage 23 VA subaccounts.(News)
December 8, 2003... Byline: Jeff Benjamin Curian Capital LLC is adding asset management to the menu. Less than a year after entering the separately managed accounts business with a platform aimed at the lower end of the retail investor market through...

Faces grave crisis in wake of formal charges of allowing illegal trades: Putnam between a rock and a hard place.(News)
December 8, 2003... Byline: Frederick P. Gabriel Jr. Putnam Investments LLC faces a difficult future. As the first mutual fund company formally charged with wrongdoing in the escalating market-timing scandal, Putnam has seen investors yank billions in...

Directed commissions dropped by Putnam; Other fund firms are expected to follow suit.(News)
December 8, 2003... Byline: David Hoffman The informal practice by mutual fund companies of directing trading commissions to brokerage houses as a reward for selling their products may be on its way out. That's the conclusion many industry experts reached...

It's a good time to shop for fund assets; Scandal foreshadows buyer's market.(News)
December 8, 2003... Byline: Bruce Kelly A buyer's market may be developing for the assets of individual mutual funds in the wake of the fund-trading scandals, some analysts and industry executives say. Mutual fund companies that have lost assets, such as...

Registered hedge funds: Already on track; The SEC staff's recommendations are less restrictive than standards to which the products registered under the 40 Act already adhere.(Opinion)
December 8, 2003... Byline: James W. Graves The hedge fund industry breathed a collective sigh of relief with the much-anticipated recent release of the Securities and Exchange Commission staff report "Implications of the Growth of Hedge Funds.'' The...

DataBook 2003.
December 15, 2003... See printed publication for the following: 8: Top 50 fund groups ranked by U.S.-sourced long-term assets 10: Top 25 fund companies ranked by U.S. diversified equity assets 10: 25 largest fund companies ranked by average...

Year ahead promises heightened requirements; Regulatory changes to spotlight advisers.(News)
December 15, 2003... Byline: Sara Hansard Investment advisers are being hit with the same kinds of stepped-up regulations that are aimed at the mutual fund industry as a result of the fund scandals. At its Jan. 14 meeting, the Securities and Exchange...

Tables turned: Planners hire help to handle their finances; Outside advisers offer welcome objectivity.(News)
December 15, 2003... Byline: Rick Miller There's an old saying that a lawyer who represents himself has a fool for a client. Apparently, some financial planners believe that the adage applies to them as well. There are planners out there, some quite...

At Issue: Reader is shocked, appalled.(Opinion)
December 15, 2003... I was shocked and appalled at your Dec. 8 front-page article ["Gay couples to reap financial benefits"]. I was reading my mail with my teenage sons, and they actually spotted the article first, including the picture of the blissful lesbian...

Monday Morning: Advisers can help fight identity theft.(News)
December 15, 2003... Byline: Jim Pavia Identity theft is America's fastest-growing crime. The Department of Justice calls it the crime of the new millennium. Identity theft can be accomplished anonymously and easily - and the impact upon the victim can be...

Short Interests: Restructuring to sweep financial services industry.(News)
December 15, 2003... Byline: Sara Hansard, Michael Ferrarella, Jeff Benjamin and Frederick P. Gabriel A new wave of restructuring is expected in the world of financial services over the next five years, according to an online survey conducted by New York's...

Broker-dealers dangle carrots to lure brokers; Attracting wirehouse brokers requires hard sell.(News)
December 15, 2003... Byline: Bruce Kelly Independent broker-dealers are working hard to lure brokers from wirehouses and regional firms with sparkling transition programs that include everything from training and marketing assistance to financial incentives...

Efforts to bolster bank's appeal to advisers; Schwab's banking business: Good start; reality checks ahead.(News)
December 15, 2003... Byline: Brooke Southall Charles Schwab Corp. is off to a good start at peddling home loans and insured deposits to its brokerage customers, but it remains to be seen whether the fledgling banking effort will be a big hit. The...

Bond investors seek solace; If interest rates head up, TIPS may be a good play.(News)
December 15, 2003... Byline: David Hoffman Bond investors are running out of places to hide. With the Dow Jones Industrial Average pushing through 10,000, the bond market is getting uglier and uglier. Still, there may be a few places for dedicated bond...

4 p.m. cutoff could harm 401(k) investors; SEC is seeking input for alternative solutions.(News)
December 15, 2003... Byline: Sara Hansard Pension plans and insurance companies are hoping they can convince the Securities and Exchange Commission to come out with a plan to curb late trading that won't put their customers at a disadvantage in the market. ...

Taking Sides - Advisers beware: The wild fiscal party won't last.(Opinion)
December 15, 2003... Financial advisers have a difficult 12 to 18 months ahead of them. Clients are enjoying great times, the economy is once again booming, employment is up, earnings are increasing, stock prices are up more than 20%, corporate capital...

Reverse Spin: Spitzer, Donaldson turf war heats up.(News)
December 15, 2003... Byline: Rick Miller New York Attorney General Eliot L. Spitzer isn't just getting scandal-plagued mutual fund companies to cry uncle. He is going for their wallets, too. As part of a proposed settlement with Mr. Spitzer's office,...

Opponents say stock options would be prohibitively costly; Bill requires companies to expense options.(News)
December 15, 2003... Byline: Sara Hansard A bipartisan group of senators has offered compromise legislation that would require publicly traded companies to include in expense statements stock options for their top employees. The bill was introduced in...

Top 25 fund companies ranked by long-term fixed-income assets*.(DataBook 2003)
December 15, 2003... Fund family 3Q assets ($ billions) 1 The Vanguard Group Inc. 153.1 100 Vanguard Blvd. Malvern, PA 19355 (800) 662-7447 2 Pimco Funds 120.1 840 Newport Center Drive Suite 300 Newport Beach, CA...

Top fund firms ranked by average asset-weighted fixed-income returns.(DataBook 2003)
December 15, 2003... Fund firms % change 1 Lord Abbett & Co. 9.58 90 Hudson St. Jersey City, NJ 07302-3973 (800) 873-3733 2 American Funds Investment Co. 9.39 333 S. Hope St. Los Angeles, CA 90071-1447 (888)...

Most widely held stocks in equity funds, by % of overall fund assets.(DataBook 2003)
December 15, 2003... Company % assets 1 Microsoft Corp. 1.58 Ticker: MSFT Market value ($m): $44,123.72 No. of funds that own: 1,359 52-week low: $22.55; high: $30.00 P/E: 28.23; price/book: 4.19 2 Citigroup Inc. 1.48 ...

Top independent broker-dealers ranked by gross revenue.(DataBook 2003)
December 15, 2003... 1AIG Advisors Group $810.4M FSC Securities Corp./ $258.6M Advantage Capital Corp. 2300 Windy Ridge Parkway, Suite 1100 Atlanta, GA 30339 fscorp.com (800) 547-2382 Royal Alliance $291M Associates Inc. ...

Socially conscious mutual funds ranked by assets.(DataBook 2003)
December 15, 2003... Fund name Assets ($m) 1 Ariel Appreciation 2,061.83 Ariel Mutual Funds 200 E. Randolph Drive, Suite 2900 Chicago, IL 60601-6436 (800) 292-7435 thepatientinvestor@arielcapital.com arielmutualfunds.com 2...

Top long-term-care underwriters ranked by premiums in force.(DataBook 2003)
December 15, 2003... Company Premiums in force ($m) 1 General Electric Capital Assurance Co. (p) 1,466.27 6610 W. Broad St. Richmond, VA 23230 gefinancialassurance.com (800) 844-6543 2002 sales ann. prem. ($m):...

Top 25 providers of variable annuities ranked by assets.(DataBook 2003)
December 15, 2003... Company Assets ($m) 1 TIAA-CREF 248,972 730 Third Ave. New York, NY 10017-3206 (212) 490-9000 2 The Hartford Life Insurance Co. 73,748 Hartford Plaza 690 Asylum Ave. Hartford, CT 06115 (860)...

Variable-life-insurance providers ranked by total new premiums.(DataBook 2003)
December 15, 2003... Company Total new premiums ($m) 1 Hartford Financial Services Group Inc. 114.70 Hartford Plaza 690 Asylum Ave. Hartford, CT 06115 (860) 547-5000 2 Pacific Life Insurance Co. 105.10 P.O. Box 9000 ...

Top defined-contribution service providers ranked by assets.(DataBook 2003)
December 15, 2003... Company Total assets ($m) 1 Fidelity Investments $471,860 82 Devonshire St. Boston, MA 02109 (617) 563-7000 fidelity.com 2 TIAA-CREF $266,000 730 Third Ave. New York, NY 10017 (212) 490-9000 ...

Top separate-account program sponsors ranked by market share.(DataBook 2003)
December 15, 2003... Company Market share 1 Smith Barney Inc. 32.80% 388 Greenwich St. New York, NY 10013 smithbarney.com (212) 816-8032 2 Merrill Lynch & Co. Inc. 23.50% 800 Scudders Mill Road Plainsboro, NJ 08536 ...

Top 10 separate-account investment managers ranked by assets.(DataBook 2003)
December 15, 2003... Company Assets ($b) 1 Citigroup Asset Management (PPG) $68.4 300 1st Stamford Place Stamford, CT 06902 (888) 891-7226 A. Peter Cieszko Jr. Managing director of private-portfolio group 2 Merrill Lynch...

DateBook: Events, happenings in the financial services industry.(DataBook 2003)
December 15, 2003... January 22-24 Broker-Dealer Conference 2004, Financial Planning Association. Hyatt Regency Huntington Beach (Calif.) Resort and Spa. (800)322-4237. February 4-7 Partnership 2004, TD Waterhouse Institutional Services Inc....

Top 100 foundations ranked by assets.(DataBook 2003)
December 15, 2003... Foundation Assets ($m) 1. Bill and Melinda Gates Foundation $24,082 2. Lilly Endowment Inc. 10,054 3. The Ford Foundation1 9,300 4. J. Paul Getty Trust2 8,624 5. The Robert Wood Johnson...

Top U.S. trust operations (total assets).(DataBook 2003)
December 15, 2003... Bank Total assets ($) 1 State Street Bank and Trust Co. 6,892,303,541 Boston Managed assets: 712,056,561 Non-managed assets: 2,224,952,890 Custody assets: 3,955,294,090 2 JPMorgan Chase Bank 6,815,751,000 ...

Top life insurance companies ranked by direct premiums.(DataBook 2003)
December 15, 2003... 1 American International Group Inc. 70 Pine St. New York, NY 10270 (212) 770-7000 Direct premiums: $44.33 billion Market share: 7.34% 2 AEGON USA Inc. 1111 N. Charles St. Baltimore, MD 21201-5574 (410)...

Section 529 college savings plans ranked by net assets.(DataBook 2003)
December 15, 2003... State Net assets ($m) 1 Rhode Island $3,875.20 CollegeBoundfund Alliance Capital Management Net asset date: 10/31/03 2 Ohio $2,622.30 Putnam CollegeAdvantage 529 Savings Plan Putnam Investments ...