PRODUCT WATCH

SEC, TRW have makeover in the works for Edgar

The Securities and Exchange Commission has awarded a $49 million three-year contract to BDM International Inc., a subsidiary of credit rating firm TRW Inc., to modernize and operate its Edgar computer system, which lets the public see company documents and other required filings. The contract could be worth as much as $102 million if the SEC exercises an option to extend it for five years after 2001.

The goal is to improve presentation quality, and Edgar will be converted to an Internet-based system using HTML as the filing format. The SEC says the upgrade will reduce the cost of filing information on the system, and will sharply cut annual rates paid by the nine subscribers to the entire real-time database — to $79,686 from a current cost of $278,000. Those subscribers in turn resell the service to others who use it. No word on whether the savings will be passed on to users.

A way to Chase top-potential 25

Chase Global Mutual Funds Group in New York has introduced the Vista Focus Fund, which invests in the 25 mid- to large-cap stocks investment adviser Chase Asset Management considers to have the greatest potential for capital growth.

Minimum initial investment is $2,500 — $1,000 for individual retirement accounts.

Wanna take an exam at a copy center?

On Aug. 1, students of the College for Financial Planning in Denver will be able to access their course or program examinations at Kinko’s nationwide. Exam on Demand will provide online testing and immediate results. In addition, students can obtain study plans and personal student information around the clock at www.fp.edu.

100 portfolios followed online

The Mutual Fund Channel in Fort Lauderdale, Fla., has launched version 2.0 of its software, which enables subscribers to simultaneously track up to 100 portfolios containing up to 30 separate securities. Existing subscribers who want an immediate upgrade to the new version can register at www.mutualfundchannel.com.

Take your pick: three death benefits

Pacific Life in Newport Beach, Calif., has added an enhanced guaranteed minimum death benefit rider to Pacific Portfolios, which, if the contract has not been annuitized, ensures the beneficiary the highest of the contract value or the net purchase payments compounded at 6% annually or the guaranteed minimum death benefit.

In addition to more frequent step-up valuations, the new rider provides compounded purchase payments at the annualized rate of 6% through age 80 with a cap at 200%. The rider charges an annual 10 basis points for issue ages up to 65 and 30 basis points for ages 66 to 75, the maximum age.

State Street Global closing small cap fund

SSgA Small Cap Fund will close to new investors on Aug. 31. The fund, managed by State Street Global Advisors in Boston, will continue to be available to current shareholders and 401(k) plans.

Phoenix expands automatic trades

Phoenix Systems Inc. of Atlanta has released a connection that gives third-party plan administrators and trust companies the ability to make trades automatically through Fund/Serv, just as broker-dealers do.

Whom do you trust with your money?

Dalbar Inc. of Boston has published “Advice, Trust & Money,” designed to explain personal financial advice. Written by the company’s president and founder, Louis S. Harvey, the booklet can be ordered at no cost from www.dalbar.com.

Wade right in to retirement site

Wade Financial Group Inc. in Minneapolis has introduced a new web site at www.retire-smart.com, which focuses on retirement planning. Designed by financial planner Jerry B. Wade, the site contains information on investment management, estate planning and IRA distribution planning.

ProspectusWorks in plain English

Funds Distributor Inc. of Boston has formed ProspectusWorks, which aims to simplify prospectuses for mutual fund companies. It offers free initial evaluations for companies needing help in complying with recent Securities and Exchange Commission regulations.

Individual Investor at Cox website

Individual Investor Online is now accessible through 30 Cox Interactive Media web sites. Its “Hot Stock of the Day” picks, industry analysis and the Magic 25 Week in Review are available at www.cimedia.com.

Putnam global offering concentrates on U.S.

Putnam Investments of Boston has opened the Putnam Research Fund, consisting of stocks selected by 40 analysts in its global equity research team. The fund, managed by associate director of global equity research Thomas R. Rogan, invests in 70 to 90 companies, mostly mid- to large-size companies in the United States. The minimum initial investment is $500 for regular accounts and $250 for IRAs.

Scudder Funds move via E*Trade

More than 30 Scudder Mutual Funds are now available without transaction fees through E*Trade’s Mutual Fund Center, as part of a new deal between the online brokerage and Scudder Kemper Investments Inc.

‘Challenge’ designed to help meet goals

Founders Funds of Denver has developed “The Fiscal-Fitness Challenge,” a free educational guide that includes investing principles and worksheets to help investors develop plans to meet their goals. The booklet also includes tips on finding extra money to invest and managing debt.

BlackRock tries a micro offering

BlackRock Fund in New York has launched the Micro-Cap Equity Portfolio managed by portfolio manager William Sykle and his team. Using the Wilshire MicroCap Index as its benchmark, the fund will invest in U.S. companies. It has a required minimum initial investment of $500 for both regular and retirement accounts and will close when assets under management reach $250 million.

In addition, the company will close its Small Cap Growth Equity Fund to new investors on Aug. 14. Managed by the same team as the new Micro-Cap Equity Portfolio, the $1.5 billion fund will permit existing shareholders as well as affiliated 401(k) plans to make additional investments after its closing.

Retirement guide from Prudential

Prudential Securities in New York has introduced “Retirees & Money: A Practical Guide to Dealing with Financial Issues During Retirement,” a free 12-page booklet that examines investment options for seniors.

Emerging market reference for bonds

Capital Access in Murray Hill, N.J., has introduced Emerging Markets Desk Reference, a publication profiling buyside and sellside firms in emerging bond markets. The first edition also profiles the top 150 British institutional investors that are active in emerging bond markets.

American Express wins First Data work

First Data Corp. in Minneapolis has retained American Express Retirement Services, a division of American Express Financial Advisors Inc., to provide investment funds, daily record keeping, trust services and employee education for its $600 million Incentive Savings Plan, effective Nov. 1.

American Express will provide services for the company’s qualified and non-qualified plans, consisting of more than 22,000 employees. The plan will offer 15 investment funds.

IAFP publishes marketing brochures

International Association for Financial Planning in Atlanta is offering a new series of marketing brochures to encourage consumers to concentrate on planning. “Planning Today for a Secure Tomorrow,” “Selecting Your Financial Adviser,” “Seeking Professional Advice,” “Providing for an Enriching Retirement” and “Leaving a Legacy” are available at prices ranging from $22.50 to $32.50 for a package of 50. Four others will be available later this summer.

Website upgrade for planning college

College for Financial Planning in Denver has debuted its upgraded web site at www.fp.edu, which features personalized student information, electronic brochures, personal finance articles and relevant likes to each course section.

How green is my Grass Valley?

Everen Securities Inc. of Chicago has opened a new branch office in Grass Valley to serve the Sacramento, Calif., region. The office, at 10466 Brunswick Road, is one of its 28 branches in California.

Pershing making Internet attack

Donaldson Lufkin & Jenrette’s Pershing unit in New York has launched Pershing Investment Research Online at www.pirs.com, which offers the company’s investment research as well as additional tools from third-party providers to subscribing broker-dealers.

Same address, different Access

Vanguard Group in Valley Forge, Pa., has launched Access Vanguard at www.vanguard.com, which enables shareholders to open mutual fund accounts, purchase and redeem fund shares and obtain electronic account statements and fund reports.

Legg Mason uses First Call

Legg Mason Wood Walker Inc. in Boston now distributes its morning meeting notes and intraday research broadcasts via First Call Notes. It also uses First Call’s Real Time Earnings Estimates Database to distribute its earnings estimates. Historical Securities and Exchange Commission filings can be found at www.firstcall.com.

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