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BUSINESS
June 28, 1997 | Reuters)
Switzerland's biggest insurance company, Zurich Group, said that it agreed to buy New York-based Scudder, Stevens & Clark, the U.S. asset management and mutual fund company, in a deal worth about $2.4 billion. The transaction would combine Zurich Group's Chicago-based Zurich Kemper Investments Inc. unit, which has $80 billion in assets under management, with privately held Scudder's $120-billion mutual fund and asset management business.
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BUSINESS
June 28, 1997 | Reuters)
Switzerland's biggest insurance company, Zurich Group, said that it agreed to buy New York-based Scudder, Stevens & Clark, the U.S. asset management and mutual fund company, in a deal worth about $2.4 billion. The transaction would combine Zurich Group's Chicago-based Zurich Kemper Investments Inc. unit, which has $80 billion in assets under management, with privately held Scudder's $120-billion mutual fund and asset management business.
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BUSINESS
January 2, 1998 | Reuters
Zurich Group, Switzerland's largest insurance company, said it had completed the formation of New York-based Scudder Kemper Investments Inc., an investment group with more than $200 billion in assets under management. Scudder Kemper Investments is the result of Zurich Group's acquisition in June of U.S. asset management and mutual fund company Scudder, Stevens & Clark in a deal worth about $2.4 billion.
BUSINESS
August 11, 1987
The Los Angeles Society of Financial Analysts has named four officers and five directors to one-year terms. They are: Danford E. Hand, vice president at Scudder, Stevens & Clark Inc., president; Phyllis G. Thomas, vice president at the Boston Corp. of Southern California, vice president-programs; Jean V. Keatley, vice president at Summit Management Co., treasurer, and Robert W. Bissell, vice president at Wells Fargo Bank, secretary.
BUSINESS
March 14, 1997 | From Reuters
The U.S. mutual fund industry on Thursday estimated that $19.5 billion in fresh cash flowed into stock funds during February, the seventh-largest monthly total on record. The net new investments in equity were down about 33% from January, when a record $29.1 billion went into stock funds, according to the Investment Company Institute, the industry's trade group in Washington. Many of America's biggest fund companies, including Vanguard Group, T. Rowe Price Associates Inc., Janus Capital Corp.
BUSINESS
October 13, 1997 | From Bloomberg News
Zurich Insurance Co., Switzerland's No. 1 insurer, said it's in talks with BAT Industries, a British tobacco and financial services group, to create a financial services company valued at $35.6 billion, as the consolidation in the industry continues. The company would bring together businesses including Zurich's Chicago-based Kemper Corp. and its New York-based money manager, Scudder, Stevens & Clark Inc., and BAT's financial services units, Farmers Insurance Group of the U.S.
BUSINESS
July 31, 1997 | From Bloomberg News
Investments in U.S. mutual funds passed the $4-trillion mark for the first time last month, an industry trade group said Wednesday, and investors increased the pace of buying stock funds in July. Executives at Fidelity Investments, Vanguard Group, T. Rowe Price Associates Inc., Charles Schwab Corp. and Scudder, Stevens & Clark Inc. reported estimated inflows higher in July than in June, providing the companies with one of their better months this year.
BUSINESS
July 26, 1996 | From Bloomberg Business News
Individual investments in U.S. equity mutual funds tumbled in the first part of July as the stock market endured one of its worst slumps since 1990 and investors shifted money to low-risk money market funds. AMG Data Services said that more than $4 billion was yanked from stock funds in the week ended July 17 alone. It was the biggest one-week withdrawal since at least January 1992. Fidelity Investments, the nation's No.
BUSINESS
August 8, 1996 | From Times Staff and Wire Reports
Individual investors' net purchases of stock mutual funds were estimated to have fallen to near two-year lows in July, the funds' chief trade group said Wednesday in a widely expected announcement. Hurt by redemptions as some investors exited the market during July's scary decline, stock mutual funds took in a net $3.5 billion last month, the Investment Company Institute estimated.
BUSINESS
April 28, 1995 | From Times Staff and Wire Services
Despite rallying stock and bond markets, mutual funds took in less new cash from small investors in March than in February, the funds' chief trade group said Thursday. But this month buyers have returned in greater numbers, many fund companies say. The Investment Company Institute reported Thursday that net new cash flow into stock funds dipped slightly to $7.2 billion in March from $8.6 billion in February. Bond funds, meanwhile, saw a net $3.7 billion flow out in March, up from February's $1.
BUSINESS
March 29, 1995 | From Times Staff and Wire Reports
Despite powerful rallies in stocks and bonds this month, investors have slowed their purchases of stock and bond mutual funds after a strong February, many fund companies report. T. Rowe Price, Massachusetts Financial Services and Janus Capital, among others, all say purchases are down this month. "People aren't convinced it's time to commit more money to funds, especially with stock prices as high as they are in the U.S.
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