Wells Fargo's K Plan Gets mPower Advice

June 18, 2002 (PLANSPONSOR.com) - Participants in the Wells Fargo & Company 401(k) plan will now have access to mPower's online advice program, mPower announced.

Through mPower’s Personal Advisor, the 100,000 Wells Fargo participants can get online financial advice, investing education, and the ability to manage their accounts via the Internet.

Beyond the 401(k) plan, mPower’s advice services cover Wells Fargo’s cash balance pension plan and non-qualified supplemental plans as well as a deferred compensation plan.

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mPower also worked closely with Wells Fargo to educate employees about Personal Advisor through e-mail alerts.

In coming months, Wells Fargo will work with mPower to implement an employee education campaign that highlights the need for periodic portfolio review based on:

  • changes in personal goals,
  • changes in risk tolerance, and
  • long-term market factors

Hedge Funds Make Small Gains in May

June 17, 2002 (PLANSPONSOR.com) - The CSFB/Tremont Hedge Fund Index is up 0.67% for May 2002, once again outperforming the major US market indices.

The month’s best performing strategy was Managed Futures, which inched up by 3.51%. Managers of this strategy invest in listed financial and commodity futures markets and currency markets around the world.

In comparison, over the month:

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  • the S&P 500 fell a further 0.91%
  • the Dow Jones Industrial Index dropped by 0.21%
  • the NASDAQ slid by -4.29%.

Year to date, hedge funds have crept up by 2.2%, while:

  • the S&P 500 has lost -7.05%
  • the Dow Jones has fallen by -0.96%
  • the NASDAQ has lost -17.16%.

Emerging markets has been the year’s top performing strategy, having increased by 9.23% in the first five months of 2002.

The CSFB Tremont Hedge Fund Index comprises 385 funds and is constructed using the TASS database of over 2,600 hedge funds. In order to qualify for inclusion in the index selection universe, a fund must have $10 million under management, a 12-month track record, and an audited financial statement.

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