Published July 16, 2001
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Industry News
New sub-advisor hired to co-manage Touchstone Emerging Growth Fund. TCW Investment Company Management (TCW) was appointed co-sub-advisor of Touchstone Emerging Growth Fund, sharing the fund's day-to-day responsibilities with existing manager Westfield Capital Management. TCW, which replaced former sub-advisor David L. Babson & Co., will run the value component of the fund, while Westfield Capital Management will continue to oversee the fund's growth segment. The fund utilizes a dual manager approach to help mitigate the volatility incurred by investing in small-cap stocks. As of June 30, 2001, the fund has posted returns of 6.88 percent, 22.46 percent, and 20.93 percent, respectively over the one-, three-, and five-year periods.
T. Rowe Price Associates opens up its latest investment center in Tysons Corner, Virginia. The new walk-in center located at 1600 Tysons Boulevard, Suite 150 is one of eleven Investor Centers established by T. Rowe Price throughout the United States, including locations in Walnut Creek, California and Wellesley, Massachusetts. Virginians can now visit Tysons Corner Investor Center, where they can meet face to face with a client manager to seek general investment advice, or conduct transactions on their T. Rowe Price accounts. "The Tysons Corner center reflects our ongoing commitment to improve and expand our methods of reaching our investors and to help people manage their investments in a way that's most convenient and comfortable for them," said James S. Riepe, chairman of T. Rowe Price Investment Services.
Pax World Funds discloses shareholder-voting results on the Web. Pax World Funds, which seeks to promote socially responsible investing (SRI), is the first fund family within the SRI community to post voting results from its annual shareholder meetings over the Internet. Logging on to www.paxfund.com will allow both prospective investors and fund shareholders access to vote counts on such issues as the selection of fund Directors, public accountants, and other important administrative duties. The broader fund industry has yet to follow Pax World Funds' lead, however, often leaving shareholder in the dark concerning such matters. Fund transparency should begin at home and investors have a right to know about the votes that would, in any way, affect their investments, according to Pax.
Charles Noh
Editor of Industry News
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