Amex Unveils Two International Funds

October 3, 2002 (PLANSPONSOR.com) - Plan sponsors interested in expanding their investment lineup may want to consider two new equity funds from the American Express Financial Corporation (AEFC).

Subadvised by outside managers, the two international equity funds are available through Amex-provided retirement plans, the company’s brokerage, and American Express financial advisors, the company said.

The funds are:

Get more!  Sign up for PLANSPONSOR newsletters.

  • AXP Partners International Small Cap Fund: The fund is co-subadvised by Wellington Management Company, LLP and Templeton Investment Counsel The fund utilizes a research-driven, bottom-up approach to selecting small-capitalization stocks in both the growth and value segments of the markets. The primary objective is long-term capital growth.
  • AXP Partners International Core Fund: The fund is co-subadvised by Putnam Investments and The Boston Company Asset Management, LLC. Management combines fundamental stock research and a top-down approach to identify companies believed to be undervalued. The primary objective is long-term capital growth.

Stillwell Pulls Itself Together, Taps New CEO

September 3, 2002 (PLANSPONSOR.com) - Stillwell Financial has tapped a new chief executive officer to take charge of its operations that are newly merged with its flagship Janus Capital Management mutual fund unit.

Mark Whiston, 41, an 11-year Janus veteran, will take the reins December 31 when the combination is completed. Whiston is currently president of retail and institutional services. 

The appointment of Whiston, who has a sales and marketing background, stands in some contrast to Bailey, who came from the investment side of the business, according to published reports.  The move also surprised some Industry watchers, who had been expecting the firm to go outside for new leadership.

Get more!  Sign up for PLANSPONSOR newsletters.

Stilwell, which currently owns about 92% of Janus, has been seeking a CEO for the business since Janus founder Tom Bailey stepped down in July 1 after selling his remaining stake in Janus last year.

Bailey’s departure, first announced in June, came at a rough time for the company, which is struggling with declines in its once-hot funds and an exodus of investors who are cashing out of the money-losing portfolios.

The combined company will shut down its headquarters in Kansas City and move its headquarters to Janus’ hometown of Denver, resulting in the elimination of 130 to 140 jobs, according to Reuters.

Stilwell also owns the Denver-based Berger Financial Group, another fund firm hit hard by the market downturn as its growth-oriented stock funds have fallen.

«