Part 2 of a two-part article reviewing the comprehensive, global, regional and multifunctional mutual fund resources available free on the World Wide Web (WWW). For Part 1 see Business Information Review, 13(2) June 1996, 91- 100. Whereas the resources reported in Part 1 were global in nature, those reported in Part 2 are regional and country specific. Resources are grouped into six geographic regions: the USA; the UK; other countries in the European Union; Asia-Pacific region; and emerging markets in Latin America, Eastern Europe, Africa and the Far East. Within each region, resources are arranged by five categories: subject hubs (full service sites); directories and indexes; performance data; reference guides, news and other resources; and mutual fund company profiles. Criteria used to evaluate the Web sites include: language; producer or authority; scope and special features; currency or stability; ease of use.
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Mutual fund information on the World Wide Web : Part 2. Regional resources. / Ladner, Sharyn J.In: Business Information Review, Vol. 13, No. 4, 1996, p. 221-235.
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TY - JOUR
T1 - Mutual fund information on the World Wide Web
T2 - Part 2. Regional resources
AU - Ladner, Sharyn J.
N1 - Funding Information: Ladner Sharyn J. University of Miami Richter Library, USA 12 1996 13 4 221 235 Part 2 of a two-part article reviewing the comprehensive, global, regional and multifunctional mutual fund resources available free on the World Wide Web (WWW). For Part 1 see Business Information Review , 13(2) June 1996, 91– 100. Whereas the resources reported in Part 1 were global in nature, those reported in Part 2 are regional and country specific. Resources are grouped into six geographic regions: the USA; the UK; other countries in the European Union; Asia-Pacific region; and emerging markets in Latin America, Eastern Europe, Africa and the Far East. Within each region, resources are arranged by five categories: subject hubs (full service sites); directories and indexes; performance data; reference guides, news and other resources; and mutual fund company profiles. Criteria used to evaluate the Web sites include: language; producer or authority; scope and special features; currency or stability; ease of use. sagemeta-type Journal Article search-text Mutual fund information on the World Wide Web: part 2. Regional resources Sharyn J. Ladner University of Miami Richter Library, USA Abstract Part 2 of a two-part article reviewing the comprehensive, global, regional and multifunctional mutual fund resources available free on the World Wide Web (WWW). For Part 1 see Business Information Review, 13(2) June 1996, 91 100. Whereas the resources reported in Part 1 were global in nature, those reported in Part 2 are regional and country specific. Resources are grouped into six geographic regions: the USA; the UK; other countries in the European Union; Asia-Pacific region; and emerging markets in Latin America, Eastern Europe, Africa and the Far East. Within each region, resources are arranged by five categories: subject hubs (full service sites); directories and indexes; performance data; reference guides, news and other resources; and mutual fund company profiles. Criteria used to evaluate the Web sites include: lan- guage; producer or authority; scope and special features; currency or stability; ease of use. Introduction and overview In the past six months, World Wide Web sites providing financial and invest- ment information have become more complex, often with multimedia and interactive features. Some provide investors with the ability to customize their Sharyn J. Ladner, Associate Professor and Gold Fund Business Librarian,portfolios, download prospectuses and purchase securities. Sites are con- University of Miami Richter Library,stantly being revamped, redesigned and reconfigured some for the better, Coral Gables, Florida. She has written some for the worse as graphic design firms, advertising agencies, publishers extensively about the Internet on a variety of topics. She is the co-authorand financial services firms try to figure out what consumers want to see of The Internet and Special Librarians:online. Use, Training and Future (SLA, 1993). Everywhere you turn, it seems there is an announcement of a new financial Someof hermost recentarticles include: 'Information technology sec-service up on the Internet. There are also a lot more news sites, many of tion' (with Hope Tillman) in Internetwhich carry financial information the day's quotes, top business and econ- Tools of the Profession (SLA, 1995); omic headlines and feature stories on the stock market or mutual funds. Many 'Using the Internet for reference' (with Hope Tillman), Online, 17(1), 1993.of these new sites target the personal investor. Others focus on institutional Correspondenceto:S.J.Ladner.investors and other professionals and may require proof of a broker's licence E-mail: email@example.com other certification for access. Some Internet service providers add financial Business Information Review, 13(4), December 1996221 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources directories and mutual fund data as a promotional1996 issue of Business Information Review, examined these resources from a global perspective. Part 2,device to entice Internet surfers to their sites and inflate their 'hit rates'. More fee-based services arebelow, focuses on sources of regional and country- specific information on mutual funds.being introduced and tested: both the Wall Street Jour- nal and Barron's Web sites are scheduled to become fee-based subscription services in the fall of 1996. The USA leads the way in this global explosion of Scope and Organization financial information on the Web, followed closely by Canada and Great Britain, with Germany and South Africa not far behind. Residents in these countries This is the second of a two-part survey of mutual fund have access to a variety of mutual fund resources, from resources available for free on the World Wide Web. comprehensive subject hubs to comparative perform- Part 1 describes search strategies, global resources, ance data, directories of fund company Web pages, ref- and issues involved in locating international financial erence material and news. There is little information, information on the Web. Web sites profiled in Part 1 by comparison, on mutual funds on the Web for the are global in nature and include broad-based mutual rest of Europe or the Far East. Scattered sources of fund subject hubs that offer 'one stop shopping' for a fund information do exist in these areas, but coverage variety of information, as well as resources that pro- is limited. vide general information on mutual funds and direc- In August 1995, I wrote an article for the Special tories that cross regional lines. Libraries Association Business and Finance Division Part 2 is a regional inventory of mutual fund Bulletin entitled 'Mutual funds on the Internet' . resources. Here you will find profiles of regional and That article was a survey of mutual fund information country-specific resources: subject hubs, directories of sources in the USA and Canada that are available free fund companies, sources of mutual fund performance of charge on the Internet. Much has changed in the data, and mutual fund reference guides and news past year, affecting both the type and quantity of infor- sources, where these resources are available. In mation available to Internet explorers. First, the Inter- addition, the best fund company home pages are listed net continues to expand exponentially, due to the for each region. phenomenal increase in new commercial World Wide When doing a regional survey, differences in termin- Web sites; second, investment in mutual funds has ology and language must be taken into account. For grown dramatically, fuelled in part by record numbers example, the term mutual fund, although commonly of individual investors purchasing equity funds for used in North America, is less prevalent in the UK and retirement income. These two events help to explain other Commonwealth countries, where unit trust is the increasing amount of information about mutual the preferred name for an open-ended fund. Closed- funds available to the public through the Internet, but ended funds in both the UK and USA are also called how credible and how complete is this information? investment trusts. It is not sufficient to search only in Because I was concerned about the kind of infor- English when looking for mutual fund information in mation available to investors on the Internet, I broad- other parts of the world. French mutual funds, for ened the scope of this review to include discussions example, are called SICAVs (Socie´tes d'Investissement about quality, completeness and search strategies. a' Capital Variable); in German, mutual funds are Kap- Three issues important to information professionals italanlagefonds or Investmentfonds; in Spanish they who search the Internet for international business are fondo mutualista or sociedad inversionista de capi- information, were discussed in the June 1996 issue of tal variable. Business Information Review : firstly, the need to Resources described in Part 2 are grouped into the evaluate resources for accuracy, comprehensiveness following geographic regions: and relevance; secondly, the paradox of info-scarcity in a Web-based world of information glut; and thirdly,USA; the importance of understanding regional differencesCanada; in terminology, language and securities industry Great Britain; regulations. Because of its length, this survey of mutual fundOther countries in the European Union (France, Germany,Italy,Spain,Netherlands,resources on the World Wide Web has been divided into two components. Part 1, published in the JuneLuxembourg); 222Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER Asia-Pacific (Australia, New Zealand, Japan andthe first week of August for changes in content, scope and focus. These changes are outlined below:Hong Kong); Emerging markets in Latin America, EasternInteractive Nest Egg (http://nestegg.iddis.com/ sbnest.html) has been completely redesignedEurope, Africa and the Far East. since the demise of Nest Egg Magazine (these art- For each region, resources are subdivided into the icles, many of which were about mutual funds, following categories: are no longer available). However, stories from Subject hubs (full-service sites); the weekly Web Finance, the online version of Directories and indexes;Investment Dealers' Digest, are still available, as is the Tradeline Mutual Fund Directory.Performance data; Reference guides, news and other resources;The Mutual Funds Home Page is now Mutual Funds Interactive (http://www.brill.com/). Con- Fund companies. tent has not changed much it is still an excel- Resources are listed alphabetically within each lent Web site. group. Internet addresses in the form of URLs PAWWS Financial Network's Mutual Fund (Uniform Resource Locators) are provided for each Information Center is now called 'Mutual resource. The following checklist, adapted from one Fund & Newsletter Information' on its home page developed by Hope Tillman , was used to evaluate (http://pawws.secapl.com/). The direct address is all Web sites included in this survey: http://pawws.com/Mfis phtml/. Language; MutualFundsMagazineOnline(http:// Producer/authority; www.mfmag.com/) still provides all of the articles Scope/special features;from Mutual Funds Magazine on its Web site. Access to its Fund Profiles and other performanceCurrency/stability; data, however, now costs $4.99 per month. Ease of use. NETworth's Mutual Fund Market Manager The most time-consuming part of this review process (http://networth.galt.com/www/home/mutual/) is was spent in identifying the producer, and source or still one of the most comprehensive full-service authority of the information provided on the Web site. Web sites for mutual fund information in the In some cases, online searches of business news ser- world. vices and directories were performed to identify Web 'publishers'. It was also difficult to determine the cur- rency of information on many of the Web sites. For this reason, reviews are dated, and information or reportUSA dates are provided in the context of the review date for those sites where update frequency is not specified. The USA is the world leader in providing Web-based Quoted text in the annotations is from the resources information about mutual funds, fund companies and themselves, unless otherwise noted. It is important to the financial services industry of which they are a note that Internet resources are constantly being part. This section lists the comprehensive subject updated new features are added while others disap- hubs, indexes and directories described in Part 1 that pear, and URLs sometimes change without warning. include information on US funds; reviews Web sites Resources included in Part 2 were reviewed between containing performance data and reference resources May and August, 1996. URLs are current as of August not previously described; and lists the addresses of 12. several fund company Web sites that serve as stan- dards of excellence for the rest of the world. Updates to Part 1: global Subject hubs (full-service sites) resources The subject hubs profiled in Part 1 all feature infor- mation about US mutual funds and the US financial market. Theseare MutualFunds Interactive The global resources profiled in Part 1 were evaluated in March 1996. These resources were rechecked during(http://www.brill.com/), Mutual Funds Magazine Business Information Review, 13(4), December 1996223 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources Online (http://www.mfmag.com/), NETworth (http://Performance data networth.galt.com/), and PAWWSTM Financial Net- work'sMutualFundInfoCenter(http://INVESTools pawws.secapl.com/).http://www.investools.com/ Language. English Producer/authority.INVESToolsisproducedby Directories and indexesTabula Interactive Inc., a company founded in 1994 by Laird Foshay, former President of M&T Publishing, Several mutual fund resources described in Part 1, with venture capital from Mohr Davidow Ventures. index US fund company Web sites. Mutual Funds Scope/special features. INVESTools is subtitled 'On Interactive's FundLink (http:///www.fundsinterac- Demand Information for Self-reliant Investors', and tive.com/links.html), for example, is a frames-based that it is. This site provides current Morningstar listing of Web sites which makes retrieval easy. NET- Mutual Funds and Closed-End Funds reports for $5 a worth's Fund Atlas (http://networth.galt.com/www/ report. These are the complete full-page reports that home/mutual/fund atlas/fund atlas.html)alsocon- Morningstar makes available through its loose-leaf tains links to US fund company home pages, as does services. The Morningstar Mutual Funds User's Guide the Mutual Fund Company Directory: U.S. (http:// is free of charge. Also free of charge are end-of-day www.cs.cmu.edu/ jdg/funds/us.html),compiledby fund charts from Prophet for specified date range, John Greiner, a graduate student at Carnegie Mellon moving average, chart type and size. University. Currency/stability. This site was reviewed on 10 Another directory, profiled below, is Investors' Web August 1996. INVESTools was launched in November Watch, one of the most innovative indexes of investing 1995. Morningstar reports are current. resources on the Web.Ease of use. Easy to manoeuvre, and minimalist graph- ics allow for quick loading. Investors' Web Watch Research: http://www.investools.com/cgi-bin/Ideas/webw.pl http://www.researchmag.com/ Language. English Language. English Producer/authority. Investors' Web Watch, part of the Producer/authority.Research:iscopyrightedby INVESTools Web site (described under Performance Research Holdings Ltd, publisher of Research maga- data, below), is written and compiled by John Brobst, zine, a controlled circulation magazine for brokers. Director of Content and Acquisitions at Tabula Inter- Scope/special features. Research: provides selected active Inc., producer of INVESTools. two- to four-page reports on 3100 open-ended equity Scope/special features. This is an annotated guide to mutual funds. About 80 of these are offered as 'free Web sites, organized in the context of five 'investment samples', the rest cost $2 each. These are comprehen- decision lifecycle' stages. Step One: Orientation and sive reports similar in content to Morningstar reports Education, for example, lists educational materials (only with larger type). Data for these reports are from fund company home pages, Usenet newsgroupsobtained from Standard & Poor's ACE, S&P Index Ser- and industry associations; glossaries and dictionaries;vices and CDA/Wiesenberger. and books and bibliographies. Step Four: Research andCurrency/stability. This site was reviewed on 1 June Selection lists sources of investment research and per-and rechecked 10 August 1996. A sample report for formance data. Each of these sections has an introduc-Fidelity Magellan fund retrieved on 1 June was cur- tion and guide to the resources listed, along withrent as of April 1996; a report for the same fund cogent advice to the novice Web investor to watch outretrieved on 10 August was current as of June 1996. for 'scam artists and hucksters on the Internet [who]Ease of use. The home page is confusing to get to the stand ready to separate fools from their money'.Research Mutual Fund Reports, follow the link 'What's Currency/stability. This site was reviewed on 10Research:' on the home page. You can access the free August 1996. INVESTools was launched in Novemberreports directly via http://www.researchmag.com/mf/ 1995. Investors' Web Watch is listed as a 'new' depart-mflist.htm. ment; however, it is not known when it was introduced or how frequently it is updated.StockMaster Ease of use. Easy to manoeuvre, and minimalist graph-http://www.stockmaster.com/ Language. Englishics allow for quick loading. 224Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER Producer/authority. StockMaster is owned by Market-The Internet Closed-End Fund Investor (ICEFI) http://www.icefi.com/ place.net Inc., a company started by Mark Torrence in Language. English August 1995. Torrence started the MIT StockMaster Producer/authority. ICEFI is produced by the Internet while he was a graduate student at the MIT Artificial Closed-End Fund Investor, a company located in South Intelligence Laboratory. The commercial version is an Pasadena, California. expanded version of the MIT service, which is no Scope/special features. ICEFI's mission is to educate longer available. investors about closed-end funds and to provide infor- Scope/special features. StockMaster provides inves- mation to help make investment decisions concerning tors on the Web with 'fast delayed stock and mutual these funds. ICEFI's free service includes an online fund quotes and historical charts since 1993', all of tutorial, quarterly performance rankings sorted by which are free of charge. Each chart also lists the cur- market price total returns and net asset value (NAV) rent quote and the last 10 trading days' data. Infor- on approximately 500 funds that trade on US stock mation is provided to StockMaster from S&P Com- exchanges, and basic information on each fund (name, Stock and its affiliates. symbol, inception date and objectives). 'Basic' service Currency/stability. This site was reviewed on 11 costs $12 per month and includes performance tables August 1996. Mutual fund data are received each and charts, daily overview reports and intra-week night after the markets close and are processed NAV estimates. Fund data are provided by CDA/ between 7.00 pm and 10.00 pm. Wiesenberger. Ease of use. Easy to manoeuvre, and minimalist graph- Currency/stability. This site was reviewed on 10 ics allow for quick loading August 1996. Quarterly performance rankings were available for 1996, second quarter. Fund information Reference guides, news and other resources was current as of 30 June 1996. Ease of use. Easy to navigate and loads quickly. EDGAR http://www.sec.gov/edaux/tools.htm (SEC site) http://edgar.stern.nyu.edu/tools.shtml(NYUSternFund companies School site) Examples of some well-constructed and informative Language. English US mutual fund company Web sites are the Calvert Producer/authority. US Securities and Exchange Group(http://www.calvertgroup.com/calvert.htm), Commission (SEC), the government body that regu- FidelityInvestments(http://www.fid-inv.com/), lates investment firms in the USA. Scudder (http://www.scudder.com/), and Vanguard Scope/special features. In the USA, mutual fund com- Group(http://www.vanguard.com/welcome.html). panies must file certain forms, including their fund Note that these funds may be restricted to US prospectuses and annual reports, with SEC. EDGAR residents. (theElectronicDataGathering,Analysisand Retrieval system) performs automated collection, vali- dation, indexing, acceptance and forwarding of sub- missions by these companies. EDGAR reporting began Canada in 1994. By May 1996 all US public companies were required to file electronically with SEC, and their fil- ings are available to the public from the two sitesCanadian Web resources are similar to those available listed above.in the US in terms of comprehensiveness, quality and Currency/stability. This site was reviewed on 10number. Profiled below are full-service hubs with August 1996. Filings are available to the public 24information on Canadian funds, fund companies and hours after filing.reference materials for the mutual fund investor, all Ease of use. The NYU site is easier to use than thefrom one site; directories of Canadian fund companies; SEC site because filing document codes are labelledindependent sources of performance data; and refer- and there are some enhanced search features. Bothence materials from the news media and a trade sites let you limit your search to mutual fund pro-association. Addresses of some of the most innovative spectuses (form 485). All forms can be retrievedCanadian fund company Web sites are listed at the end.through a company name search. Business Information Review, 13(4), December 1996225 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources Scope/special features. The Mutual Fund Companies Subject hubs (full-service sites) directory links either to a firm's own Web page or to a page provided by The Fund Library, and to full-colour Canadian Financial Services Network: FSN online brochures available as Adobe AcrobatTM PDF http://www.fsn.ca/ files. Fund Watch is a newsletter written by Canadian Language. English financial columnist Rudy Luukko. FundMasters Fund Producer/authority. FSN is a full-service hub of Can- Finder lets you search by fund category, type of sales adian financial information directed to the personal charge (front load, back load, no load), and RRSP eligi- investor. FSN claims to be 'the largest independent bility status. Search results appear in a table listing Canadian financial services site' on the Web, offering fund name, type, sales code, RRSP status and fund 'a comprehensive guide to financial information'. No objective. Fund Name is a linkable field, providing a further information about the background or owner- brief description of the fund with additional links to ship of Canadian Financial Services Network was the fund's Web site and fund manager's e-mail address found on the Web site or elsewhere. (if available), as well as links to current Net Asset Scope/special features. Several main menu links point Values (NAVs) and articles about the fund company in to mutual fund information on this site: FSN Forum Fund Watch News. Performance Tools provides daily contains selected articles from Southam's Mutual closing prices for mutual fund companies that are Fund Report, with archives going back to September members of The Fund Library, and links to the Port- 1995; Financial Products is a directory that lists folio Analytics Ltd PALTrak database and to Bell investment products, including mutual funds, by cate- Charts Inc. Top Ten Report. Investment Resources is gory and institution; Company Index is a classified a current listing of Internet resources by category. directory of Canadian financial institutions (banks, Mutual Fund Discussion Forum is a listserver for Can- securities companies, investment companies, among adian mutual funds, which you can subscribe to and others); FSN Marketplace provides mutual fund per- search for threaded topics from the Web site. formance data from Southam, including the best and Currency/stability. This site was reviewed on 16 May worst performers, and a complete listing of funds by 1996. The What's New section announces new fea- category; Making Sense is probably the best feature: tures, the most recent was dated 3 May. The Invest- this section has introductory and reference material ment Resources Internet directory was updated on 13 on mutual funds for Canadian investors, including May. It is not known when this site first appeared on History of Mutual Funds, Who Offers Mutual Funds, the Web. Rules and Regulations, Product Types and Features, Ease of use. The site is easy to navigate. and more. A related section on Retirement Concepts explainsRegisteredRetirementSavingsPlans Directories and indexes (RRSPs). Currency/stability. This site was reviewed on 25 May Qualisteam Markets: Mutual Funds: Canada 1996. Fund performance data were reported for the http://www.qualisteam.com/aopcvmcan.html month ended March 1996. It is not known when this Languages. English, French site first appeared on the Web. Producer/authority. Qualisteam, a French manage- Ease of use. Mutual fund survey data are slow to load. ment consulting company. Some tables are hard to read. Scope/special features. Alphabetical listing of Canad- ian mutual fund companies with links to their Web The Fund Librarysites. There are no annotations. http://www.fundlib.com/Currency/stability. This site was reviewed on 26 May Language. English1996. This directory was last updated 11 March 1996. Producer/authority. This Web site is produced by TheEase of use. Easy to navigate and loads quickly. Fund Library Inc. No further information about the background or ownership of The Fund Library wasMutual Fund Company Directory: Canada http://www.cs.cmu.edu/ jdg/funds/canada.htmllocated on the Web site. The Fund Library provides fax-on-demand material free of charge on more than aLanguage. English Producer/authority.TheMutualFundCompanydozen mutual fund companies, and to consumers through an alliance with The Financial Post . FundDirectory is compiled by John Greiner, a graduate student at Carnegie Mellon University.companies pay to be listed in The Fund Library . 226Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER Scope/special features. This is a list of mutual fundof last month, holding analysis as of last month and geographic allocation.companies, their telephone numbers and links to their Web sites, if available.Currency/stability. This site was reviewed on 21 May 1996. Database is updated twice a month. Currency/stability. This site was reviewed on 2 June 1996. This directory was last updated on 28 May 1996.Ease of use. Easy to navigate. Ease of use. Easy to use and loads quickly. Reference guides, news and other resources Performance data The Art of Investment http://www.aofi.com/ Canadian Mutual Funds Database http://www.cyberion.com/canadanet/mutuals/Language. English Producer/authority. The Art of Investment Web sitemfsearch.html Language. Englishwas created by 'Vancouver media entrepreneurs' Diana Costain and Barbara Constantine  and is pro- Producer/authority. Canadian Mutual Funds Datab- ase is a subsection of the Canada Net Pages Stocks &duced by AOFI Online Corp., a Vancouver Internet service company 'that delivers niche-oriented, coordi-Bonds section. Mutual fund data are supplied by Sou- tham New Media.nated co-media marketing and promotional strategies'. Sponsors include the British Columbia and Alberta Scope/special features. Canadian Mutual Funds is 'a searchable database of all Canadian mutual funds'. ASecuritiesCommissions,theCanadianBankers Association, the Canadian Securities Institute and thesearch on Altamira on 16 May yielded a list of 23 Alta- mira funds, with summary performance data for eachVancouver Stock Exchange. Scope/special features. The Web site was created infund (fund name; period ending; RRSP status; end of month NAV; one, three and six-month returns; one,conjunction with the Art of Investment TV series, pro- duced in Vancouver on the CanWest Global System.two, three, five and ten-year returns; expense ratio; and volatility).The purpose of the Web page and the TV series is to teach 'the process of investing rather than focusing on Currency/stability. This site was reviewed on 16 May 1996. Performance data was reported for the periodproduct information'. There are articles and columns about investing, with a searchable index, and an excel-ending April 1996. Ease of use. This site loads very slowly and sometimeslent glossary of investing terms as well as information on the TV series. A section entitled 'Fun Stuff!' hasretrieval is unsuccessful, requiring rebooting of your computer.quizzes, crossword puzzles developed from glossary terms, and contests. This site is just being developed PALTrak Inc. Canadian Mutual Fundsit has the potential to be an interesting and edu- http://www.pal.com/cational site once completed. Language. EnglishCurrency/stability. This site was reviewed on 26 May Producer/authority. PALTrac is a subsidiary of Port-1996. Updating frequency is not known. folio Analytics Ltd, a 'Toronto-based consulting firmEase of use. Loads quickly and is easy to navigate. specializingininstitutionalinvestmentportfolio analysis'. PALTrak specializes in tracking CanadianInvestment Funds Institute of Canada (IFIC) http://www.mutfunds.com/ific/mutual fund holdings and sells subscriptions to PAL- Trak for Windows mutual fund analysis software.Language. English Producer/authority. IFIC is the trade association ofPALTrak provides the portfolio tables found in The Financial Post's Quarterly Mutual Fund Report.the Canadian mutual funds industry. IFIC's objectives include broadening public awareness and understand- Scope/special features. PALTrak's Investment Funds Database (IFD) 'records each and every security helding of mutual funds, providing information about the industry to the public, conducting correspondencewithin each fund'. It monitors 'more than 1100 Canad- ian mutual, pooled and segregated funds'. Mutualsources for brokers, monitoring member compliance with regulatory agencies, establishing policy positionsFund Portfolios is the database of fund information: records contain name, address, telephone number,on issues of concern to the industry and compiling industry statistics.fund type, region, inception date, RRSP status, expense ratio, minimum investment, total amounts,Scope/special features. Links are provided to: the cur- rent issue of the bi-monthly newsletter; descriptions ofload structure, investment objective, performance as Business Information Review, 13(4), December 1996227 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources correspondence courses offered through IFIC; a superb(closed-ended funds) are equal to their US and Canad- 14-page glossary of investment terms; the previousian counterparts in terms of comprehensiveness and month's industry statistics and press releases as anquality. There are, however, far fewer British invest- Adobe Acrobat PDF file; basic questions and answersment firms on the Web, and their Web sites, at the about mutual funds; a 'What's New' section, includingtime of writing, provide much less information com- news releases and new IFIC Bulletins; a list of freepared to their North American counterparts. Profiled publications; and links to fund company Web sites.below are full-service hubs with information on UK This is a wonderful educational resource the Invest-funds, fund companies and reference materials for the ment Company Institute, its US counterpart, providesmutual fund investor, all from one site; directories of almost no public information on its Web site. UK fund companies; independent sources of perform- Currency/stability. This site was reviewed on 21 May ance data; and reference materials from industry trade 1996. No data provided on when the site was last associations and the news media. Addresses of several updated, but the IFIC 'Fact Sheet' was updated 15 British fund company Web sites are listed at the end. May. Ease of use. This site is easy to navigate and the format is attractive. There are buttons at the bottomSubject hubs (full-service sites) of all sub-pages for easy navigation. Interactive InvestorTM (III) Mutual Funds Update http://www.iii.co.uk/index.htm http://www.southam.com/Magazines/Funds/ Language. English index.html Producer/authority. Interactive InvestorTM is pro- Language. English duced by Internet Investors Information Ltd, a com- Producer/authority. This Web site is produced by Sou- pany that creates Web sites for financial institutions. tham Magazine and Information Group, publisher of It integrates these offerings into its own multifunc- Mutual Funds Update magazine. tional hub of investment information. Clients include Scope/special features. The Southam Inc. Web site two industry trade associations the Association of provides a link to selected articles from its Mutual Investment Trust Companies (AITC), and the Associ- Funds Update magazine. It also lists the top 10 Canad- ation of Unit Trusts and Investment Funds (AUTIF) ian mutual funds for the previous month, from Sou- and several investment firms (Gartmore, Global Asset tham's Mutual Fund Sourcebook. Management, Fidelity and Prolific). III is an adver- Currency/stability. This site was reviewed on 22 May 1996. Contents are updated monthly.tiser-supported site. Basic service is free to users, Ease of use. The search engine does not search all textalthough registration is required. words so it's functionality is limited.Scope/special features. Client funds are easily linked to and are subdivided by category: Unit Trusts, Invest- ment Trusts, Personal Equity Plans (PEPs) and Off- Fund Company Profiles shore Funds. Performance data are provided by Micro- Examples of informative Canadian mutual fund com- pal, an independent source of fund data in the UK, and pany Web sites are First Canadian Mutual Funds, includes the top-performing funds over one, three and distributed by the Bank of Montreal Investment Man- five years. Links are also provided to the AITC and agement Ltd (http://www.bomil.ca/); Royal Mutual AUTIF Web sites (described under References guides, Funds(http://www.royalbank.com/english/fund/or news and other resources, below). Special features http://www.royalbank.com/french/fund/);Scudder include a Finance Directory, a comprehensive direc- Funds of Canada (http://www.scudder.ca/); Canada tory of Internet resources for European and US mar- Trust Mutual Funds (http://www.canadatrust.com/ kets subdivided by category (News & Publications, mutual/index.html); and Altamira Investment Ser- Investments, Independent Financial Advisors (IFAs), vices (http://www.altamira.com/). Note that these Banks, Prices and Exchanges, etc). The Guided Tour funds may be restricted to Canadian residents. section includes What's New and a User Guide, an index to resources on the III server. An e-mail newslet- ter, Interactive Investoralert, features new services Great Britain and fund information available on the III site. The News section has stories from four Financial Times magazines, which are keyword searchable through a Web-based resources for the British investor in unit trusts(mutualfunds)orinvestmenttrustsWAIS search engine. 228Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER Currency/stability. This site was reviewed on 26 MayYou may want to search this site using a text-based browser such as Lynx.1996. What's New lists services that are 'updated monthly' and 'updated constantly' as well as new fea- TrustNet tures available over the past few months. Registered http://www.trustnet.co.uk users increased from 159 to 950 between December Language. English 1995 and February 1996, and the number of 'readers' Producer/authority. TrustNet is produced by TrustNet went from 8000 to 20 000 during the same time period Ltd, an Internet company, in association with SBC . The Web site was introduced in October 1995 for Warburg, which provides fund performance data. A independent financial advisers and private investors . free service to Internet users, TrustNet 'bills the fund Ease of use. The User Guide provides an excellent companies whose funds appear on its pages' . index to resources. The button bar at the bottom of Scope/special features. TrustNet focuses on closed- eachpageprovideseasybacktrackingand ended funds. It provides detailed information on over manoeuvrability. 500 funds, 'including all UK-registered investment trusts and approximately 200 warrants' . Perform- ance data include daily price, discount/premium to net MoneyWorld: The UK's Personal Finance asset value (NAV), and one, three and five-year NAV Website total return percentages. Data tables can be sorted by http://www.moneyworld.co.uk/ region, sector category, performance criteria and Language. English investment company name. Reference material on Producer/authority. This site is produced by Money- closed-ended funds is excellent. The Directory of World Ltd, a Web design and implementation service Related Web Sites includes links to financial service specializing in financial service companies. Introduced firms and investment periodicals on the Internet. in June 1995, it is an advertiser-supported Web site, There is also a link to the Association of Investment and is the 'UK's first personal-finance site on the Inter- Trust Companies Web site AITC is the industry net' . Investment performance data comes from association for UK closed-ended funds. Hardwick Stafford Wright Ltd. Currency/stability. This site was reviewed on 26 May Scope/special features. Performance data on unit 1996. TrustNet was launched in March 1996. It is trusts, investment trusts and PEPs are calculated for updated daily. the previous month. One, three and five-year rankings, Ease of use. TrustNet is not cluttered up with graph- by fund type, are based on 'sterling converted buy to ics a welcome but increasingly rare occurrence on sell performance' for unit trusts and 'mid-market to the Web and is easy to navigate. The sorting feature mid-market performance' for investment trusts. The is nice. UK Personal Finance Directory includes both alpha- betical and subject lists of Internet resources, such as EthicalInvestments,FinancialPublicationsandDirectories and indexes Stockbrokers, Fund Managers and Investment. Finan- cial Contacts includes directories of unit trust man-Unit trusts in the UK http://www.inect.co.uk/ (InterNect home page)agers, investment trust managers, independent fin- ancial advisors (IFAs), and addresses of UK regulatoryhttp://www.inect.co.uk/int0024.html (InterNect Finan- cial Database)bodies and ombudsmen. Links to firms' Web sites, however, are not provided. Two of the strongest fea-Language. English Producer/authority. This is one of several Internettures are MoneyWorld's guides to personal finance topics and the glossary. The News section is a disap-financial directories produced by InterNect Ltd, a UK 'consultancy that helps financial sector companies takepointment there are no subject categories, nor is it searchable. New users should check out the New-maximum advantage of doing business on the Inter- net'. InterNect's financial directories appear to be usedcomers' Page first for a guide to the MoneyWorld site. Currency/stability. This site was reviewed on 27 Mayas a promotional vehicle for their Internet services: 'On [our World Wide Web server] we've placed a range1996. Performance data are updated monthly. This Web site was completely redesigned between Marchof financial and corporate information that draws attention to our site and therefore to our customers'and May 1996. Ease of use. MoneyWorld takes a long time to loadpages.' Scope/special features. This is a 36-page directory offrom the USA it was the slowest of all sites tested. Business Information Review, 13(4), December 1996229 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources unit trust managers in the UK. Each entry lists theReference guides, news and other resources name, address and telephone number, and the prod- ucts (funds) managed by each firm. This directory canAssociation of Investment Trust Companies be searched from the InterNect home page in a frames(AITC) environment or searched directly from The InterNecthttp://www.iii.co.uk/aitc/index.htm Financial Database home page. Links to fund companyLanguage. English home pages are incomplete there were no links toProducer/authority. This Web site is produced by the Fidelity or Gartmore Web sites and the link to theInteractive InvestorTM (III) and is integrated into the Cazenove home page didn't work when tested in May.III site, although it can also stand alone. AITC is an Currency/stability. This site was reviewed on 26 Mayindustry association founded in 1932 whose members 1996. The Financial Database is updated weekly. Theare investment trust companies (investment trusts are site appears to have been in operation since 31 Octoberclosed-ended funds). 1995.Scope/special features. This site links to a Members Ease of use. Fair more hypertext links to fund com-Directory listing AITC members and managers, a pany Web sites would improve this directory.directory of groups offering savings and investment schemes, and a directory of groups offering investment Performance datatrust PEPs. The directories do not include hypertext links to Web pages of members. Also included are Micropal LtdAITC press releases and AITC Fact Sheets, providing http://www.iii.co.uk/micropal/ (Interactive InvestorTMbasic and background information about investment gateway)trusts (for example, What is an Investment Trust Language. EnglishCompany?, High Performance Investments, Invest- Producer/authority. Micropal Ltd is an independentment Trust PEPs, etc). provider of comparative performance data for overCurrency/stability. This site was reviewed on 26 May 26 000 investment funds (unit trusts/mutual funds,1996. It is updated monthly by III. life, pension and offshore funds) in the UK and world-Ease of use. Easy to manoeuvre, and minimalist graph- wide. The Interactive InvestorTM gateway providesics allow for quick loading. The glossary, however, is access to Micropal data on UK investment funds.hard to read because it is contained in a tiny inch-high Access is free for basic service, but registration isrectangular frame which must be scrolled through. required for some information. Enhanced service is also available for a fee.Association of Unit Trusts and Investment Funds (AUTIF) Scope/special features. Data are available for all UK unit trusts, investment trusts, personal equity planshttp://www.iii.co.uk/autif/index.htm Language. English(PEPs) and SIB-authorized offshore funds. Micropal's performance history service is keyword searchable andProducer/authority. This Web site is produced by Interactive InvestorTM (III) and is integrated into thebrowsable by sector. Fund League Table sector per- formance profiles provide summary-level data onlyIII site, although it can also stand alone. AUTIF is an industry association founded in 1959 whose members(sector rankings, the past year's top 10 sector leaders and bar charts comparing these top funds to the sectorare unit trust and investment fund managers, rep- resenting 'over 79% of the unit trust industry in theaverage). Performance charts for individual funds link to the fund's Web site where available and include theUK'. Scope/special features. This site links to a membersMicropal Star RatingTM. The enhanced service option (£450 per year per person or per fund report) providesdirectory of 'more than 120 unit trust management companies', fact sheets providing basic informationmore detailed fund data and more search options. Currency/stability. This site was reviewed on 23about unit trusts (for example, Unit Trusts and You), AUTIF press releases and a glossary of terms. TheMarch and rechecked on 6 August 1996. The home page states that 'all the information is constantlymembers directory does not provide hypertext links to members' Web sites.updated'. Fund sector data is based on calendar year 1995.Currency/stability. This site was reviewed on 26 May 1996. It is updated monthly by III. Ease of use. Easy to navigate, search and browse. The button bar at the bottom of each page provides easyEase of use. Easy to manoeuvre, and minimalist graph- ics allow for quick loading.backtracking and manoeuvrability. 230Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER Ethical Investment Funds HomepageEase of use. Easy to navigate and relatively quick to load.http://www.bath.ac.uk/Centres/Ethical/eut-home.htm Language. English Producer/authority. This Web site is part of the Ethi-Fund company profiles cal Business umbrella Web site. Ethical Business is Examples of some well-constructed British mutual produced and edited by Craig Mackenzie, a doctoral fund company Web sites are Global Asset Manage- student and Research Officer for the Morality and the ment(http://www.ukinfo.gam.com/),Cazenove Market Project at Bath University. 'Ethical invest- (http://www.cazenove.co.uk/cazenove/) and Flemings ment is a catch all term which encompasses all kinds InvestmentTrustManagementLtd(http:// of investment which mix ethical with ordinary finan- www.flemings.com/fitm/fitm.htm).Notethatthese cial motivation or objectives. It includes green, social funds may be restricted to residents of the UK. and socially responsible investment.' Scope/special features. This site includes information on ethical investment funds, including Introduction to Ethical Unit Trusts, a Directory of Ethical InvestmentOther countries in the European Funds, including links to fund company home pages; Union links to independent financial advisors specializing in EUTs; and Holden Meehan's Independent Guide to Ethical and Green Investment Funds. In North America and Great Britain, the most com- Currency/stability. This site was reviewed on 3 June plete and comprehensive information on mutual funds 1996. The Ethical Business site was last updated 27 has come from independent or third-party sites. In March 1996. There is no indication of when the Ethical continental Europe, by contrast, there are no such sub- Unit Trusts files were last updated. ject hubs for investment information. Outside of Germ- Ease of use. This is a straight-forward list of resources any, little independently compiled information is related to ethical unit trusts. There are no graphics available on the Web. The majority of firms with home other than the Ethical Business logo. pages are located in Germany or Luxembourg there is little Web presence elsewhere in Europe. Profiled Financial Times (FT.com) Home Page below are two directories of mutual fund companies in http://www.FT.com/ Europe; sources of performance data on German and http://www.usa.ft.com/ (US mirror site) Italian funds; and the addresses of several of the more Language. English innovative and comprehensive fund company Web Producer/authority. This is the Web site of the Finan- sites in Germany, Luxembourg and Italy. cial Times newspaper, the 'international equivalent of the Wall Street Journal' . Access is free, although registration is required to access News & CommentDirectories and indexes Market Statistics and Themes & Topics Personal Fin- ance sections.DINO Investmentfonds http://www.dino-online.de/seiten/go13fi.htm Scope/special features. Market Statistics Managed Funds service lists daily valuation of over 9000 UKLanguage. German Producer/authority. The Investmentfonds [mutualunit trusts, pensions and life insurance funds, and off- shore funds by type of fund or fund manager name.funds] directory is a subsection of the DINO Wirtsch- aft Finanzielle Ma¨rkte [German financial markets]Data include initial charge, notes, selling price, buying price, mid price, variation and gross yield. MarketInternetdirectoryontheDeutschesInterNet- Organisationssystem (DINO) Internet service. DINOStatistics Markets in Review section provides daily news capsules for American, Asia-Pacific, Europeandoes not provide information content, and its dis- claimer [Inhaltliche Verantwortung] states that theand South African markets. Themes & Topics Personal Finance section contains more in-depth news stories,accuracy of the information available through the ser- vice is the responsibility of the individual informationincluding stories on unit trusts and other investments geared to the small investor.services the directory links to. The Institute of Finance and Banking at the University of Go¨ttingen [Institut Currency/stability. This site was reviewed on 22 May 1996. It is updated daily with news stories from thefu¨ r Betriebswirtschaftliche Geldwirtschaft der Univer- sita¨t Go¨ttingen (IfBG Go¨ttingen)] Web page states that Financial Times. Business Information Review, 13(4), December 1996231 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources DINO is the best directory of German-language Webfu¨ r Kapitalanlager in Deutschland]. The Invest- mentfonds subdirectory provides fund profiles, currentsites on the Internet. Scope/special features. DINO Investmentfonds is aprices, and performance data on mutual funds offered by Deka Gruppe, ADIG Gruppe, Dresdner Bankdirectory of German-language mutual fund resources on the Web. It links to sources of performance data,Investmentgruppe, DWS (Deutsche Gesellschaft fu¨ r Wertpapiersparen) and Flemings. This information iscurrent prices, fund companies and related banks. Currency/stability. This site was first reviewed on 29provided by the fund companies themselves, not an independent rating service.May and updated on 7 August 1996. DINO was moved from the server at the Institute of Finance and Bank-Currency/stability. This site was reviewed on 29 May 1996. It is not known how frequently it is updated.ing at the University of Go¨ttingen to Siemens Nixdorf Internet Services during this time. There is now a linkLinks to fund companies are current. Ease of use. This is a poorly organized and confusingfrom the former URL to the URL listed above. It is not known how frequently DINO InvestmentfondsWeb site it feels very much like a warehouse! It is difficult to determine the source of the informationdirectory is updated. Ease of use. Easy to manoeuvre, and minimalist graph-provided on the site or who is responsible for it, and the links take a long time to load from the US.ics allow for quick loading. Qualisteam Markets: Mutual Funds in EuropeInfos GMBH Fondsdatenbank [database of http://www.qualisteam.com/aopcvmeu.htmlquotes] Languages. English, Frenchhttp://www.infos.com/ (German version) Producer/authority. Qualisteam is a French manage-http://www.infos.com/english/ (English version) ment consulting and Internet services company. TheLanguage. German, English Qualisteam Banking and Finance: Markets directory,Producer/authority. Infos is an investment consultant of which Mutual Funds in Europe and Mutual Fundsand discount brokerage located near Stuttgart that in France are a part, is advertiser-supported.specializes in mutual funds. The data in the Fondsdat- Scope/special features. Mutual Funds in Europe is aenbank are based on the datapool databases of Market listingofEuropeanmutualfundcompaniesbyMaker, an investment software company. Access is country, with links to their Web sites. Countriesfree of charge, but registration is required. included are Austria, Belgium, France, Germany,Scope/special features. This database provides current Great Britain, Holland, Italy, Luxembourg, Russia,net asset values (NAVs) and one, three and five-year Sweden and Switzerland. There are no annotations.performance rankings for 'nearly all major mutual Currency/stability. This site was first searched on 27funds that are registered in Germany' and 'foreign May 1996 and updated 7 August 1996. The Mutualfunds that are publicly traded in Germany'. NAV Funds in Europe directory was last updated 12 Junecharts for these funds can be selected for 30, 60, 180 1996. The Banking and Finance umbrella site was lastand 360 days and for the long term. Chart footnotes updated 3 August 1996.are available in English and German. Fund profiles Ease of use. Easy to navigate and loads quickly.are in German only. Currency/stability. This site was reviewed on 29 May 1996. Performance rankings are as of the end of the Performance data previous month. NAV charts are as of the previous day's trading. Financial Information Warehouse: InvestmentfondsEase of use. The German version home page is annoy- ingly slow to load because of an animated graphichttp://www.financial.de/fonds/welcome.htm Language. Germanshowing coins jumping up and down. Subsequent pages load quickly. Producer/authority. Financial Information Warehouse is sponsored by Creative Consulting, a Web design firm; several investment-related firms (StadtsparkasseTex.NET Financial Page http://robot1.texnet.it/finanza/Augsburg, Deka Gruppe, Pallas); Reuters; and a stock exchange (Bayerische Bo¨rse).Language. English Producer/authority. This site is produced by Tex.NET, Scope/special features.The FinancialInfomation Warehouse calls itself a virtual information centre foran Internet service provider in Prato, Italy. Scope/special features. Provides daily quotations andGerman investments [virtuellen Informationszentrum 232Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER historical prices for Italian mutual funds. Currentmacqbl.com.au/mqindex.htm) and New Zealand (http:// www.macqbl.com.au/nz/mqindex.htm), but informationfund tables include the previous two closing prices and percent change. Historical prices go back to 31 Janu-on their unit trusts is minimal. Mutual fund investors living in the Far East wouldary 1996. Currency/stability. This site was reviewed on 31 Maybe advised to monitor Internet financial news services such as Asia, Inc. Online (http://www.asia-inc.com/1996. Prices were current through 31 May. Ease of use. Direct link from Tex.NET Financial Page,index.html) on the Web for market activity, as well as the following global resource directories (profiled inloads quickly. Part 1): the Institute of Finance and Banking at the University of Go¨ttingen IfBG finance and Fund company profiles bankingdirectories(http://www.wiso.gwdg.de/ifbg/ Examples of some of the more innovative and compre-ifbghome.html), John Greiner's global Mutual Fund hensive European fund company Web sites are: DWS-Company Directory (http://www.cs.cmu.edu/ jdg/ Gruppe,subsidiaryofDeutscheBank(http://funds.html), Qualisteam Banking and Finance www.dws.de/), Dresdner Bank Investmentgruppe(http://www.qualisteam.com/aindex.html) and NET- (http://www.dit.de/)andADIG-Gruppe(http://worth Insider: Investment Periodicals directory www.adig.de/ADIG/d toc.html) in Germany; Flem-(http://networth.galt.com/www/home/insider/ ings (http://www.flemings.lu/) and Banque UCLinsider.html). (http://www.banqueucl.lu/f/placemnt/placemnt.htm), headquartered in Luxembourg; and Gestnord Fondi S.p.A. Gruppo Banca Sella (http://www.galactica.it/Emerging markets gestnord fondi/indice-i.html), in Italy. Fund manage- ment companies in other European countries have vir- tually no presence on the Internet at the time of writ-Investing in the stock markets of developing countries ing. Note that these funds may be restricted tois known as 'emerging markets' investing. These are residents of the countries where these firms areconsidered to be markets in economically developing located.countries or those that have restricted foreign invest- ments . The World Bank's Composite Index of the International Finance Corporation (IFC) includes mar- Asia-Pacific (Australia, Newkets in 20 countries: Argentina, Brazil, Chile, Colom- bia, Greece, India, Indonesia, Jordan, Korea, Malay- Zealand, Japan, Hong Kong) sia,Mexico,Nigeria,Pakistan,thePhilippines, Portugal, Taiwan, Thailand, Turkey, Venezuela and Zimbabwe . Morgan Stanley Capital InternationalCompared to North America and Europe, the Asia- Pacific region is uncharted territory in terms of mutualEmerging Markets Indices also include China, Israel, Peru, Poland and South Africa .fund resources on the World Wide Web. At this time, there are no directories or indexes to fund companiesThis section is limited to World Wide Web resources in these emerging market countries. As in previousheadquartered in the Far East the Qualisteam MutualFundsAfricaOceaniadirectory(http://sections, only resources found on Web sites in these countries are profiled guides to investing in emergingwww.qualisteam.com/aopcvmmon.html) listedonly one site: Macquarie Bank in Australia. There is like-markets published or produced in the USA, Canada, UK, or any other country not considered to be part ofwise no independent source of performance data avail- able for fund companies located here.the emerging markets sector, are excluded. Investors in the USA, Canada and Europe should check emerg-Some global fund companies have regional head- quarters and Web sites in the Far East. These includeing markets funds offered from investment firms regis- tered to sell mutual funds in their own countries. Fidelity International's Far East Online Investor Center (http://www.fidelity.com.hk/) and JardineThere is a wealth of reference material and perform- ance data for these emerging market mutual funds in Fleming Unit Trusts Limited (http://www.jfleming ut.com.hk/) in hong kong and INVESCO Asset Man-the global subject hubs and reference sites described in Part 1, and in the regional resources profiled above. agement (Japan) Limited's Japanese-language site (http://www.sphere.ad.jp/invesco/). Macquarie BankSouth Africa is currently by far the best represented emerging market country on the Web. Outside ofhas onlinesitesinAustralia(http://www. Business Information Review, 13(4), December 1996233 5069$$$$p101-11-96 08:21:12 Mutual fund information on the World Wide Web: part 2. Regional resources South Africa, there are no directories or indexes toCurrency/stability. This site was reviewed on 1 June 1996. The Stock Exchange Guide was last updated onfund companies headquartered in any of the countries listed above. Residents of emerging markets nations13 May 1996. Ease of use. It takes an extremely long time to loadmight want to monitor Internet financial news services such as Asia, Inc. Online (http://www.asia-inc.com/from the US. Web site design is black with white text, making printing problematic.index.html) or the Financial Times (FT.com) Home Page (http://www.FT.com/) on the Web for market Unit trusts in South Africa activity as well as the global resource directories listed http://www.inect.co.uk/cgi-bin/db/int0023.html above in the Asia-Pacific section. Language. English South African mutual fund resources are profiled Producer/authority. This is one of several Internet below. financial directories produced by InterNect Ltd, a UK 'consultancy that helps financial sector companies take Subject hubs (full-service sites) maximumadvantageofdoingbusinessonthe Internet'. Unit Trusts South Africa: Stones Internet Scope/special features. This is a seven-page directory Investment Service of unit trust management companies in South Africa. http://www.stones.co.za/ut/index.html Each entry lists the name, address and telephone Language. English number, and the products (funds) managed by each Producer/authority. This Web site is hosted by Stones firm. e-mail and hyptertext links to home pages are Advertising (Pty) Ltd. No further information was pro- provided where available. vided on the background or ownership of this company Currency/stability. This site was reviewed on 28 May or its relationship to other South African investment 1996. It appears to have been operational since 31 firms. October 1995. It is not known when the directory was Scope/special features. The Unit Trusts South Africa last updated. site lets you trace your unit trust portfolio via e-mail Ease of use. Loads relatively quickly. through 'Trust Track' and purchase unit trusts online. Profiles are provided for individual unit trusts, includ- Performance data ing current and weekly historical prices going back to March 1996. This information 'has been sourced inde- Financial Mail Internet edition: Top pendently from Hugo Lambrecht University of Companies Online Pretoria'. http://www.atd.co.za/Top100/index.html Currency/stability. This site was reviewed on 9 Language. English August 1996. Prices are updated each Friday morning Producer/authority. This is the online edition of the with Thursday's closing price. Financial Mail, 'South Africa's leading journal of fin- Ease of use. Takes a long time to load from the US. ancial news, commentary and opinion'. Top Companies Online is sponsored by ABSA Bank, a Financial Mail Web advertiser. Directories and indexes Scope/special features. Lump sum investment percent- ages are presented for 1, 3, 5, 7, 10, 15, 20 and 25 years The African Stock Exchange Guide http://africa.com/pages/jse/for 24 general equity funds, 44 specialist funds, 17 high income funds, and 7 gilt funds. The top five per- Language. English Producer/authority. Produced by Virtual Africa, anformance leaders in each category and total asset lead- ers are also listed.Internet services provider located in South Africa. Scope/special features. The 'Sector-based listing' pro-Currency/stability. This site was reviewed on 9 August 1996. Top Companies Online is a Financialvides alistofinvestmenttrustcompanies (closed-ended funds) that trade on the JohannesburgMail Special Survey dated 28 June 1996. Like many special features on Web-based news services, thisStock Exchange (JSE). Data on these firms are pro- vided by McGregor Information Services Pty Ltd, 'aresource may be short-lived and may not be available in the future.family owned information business providing infor- mationonStockExchangequotedcompaniesEase of use. Selecting Unit Trusts on the top-level table displays a summary of the unit trust industryoperating in Africa since 1978'. 234Business Information Review, 13(4), December 1996 5069$$$$p101-11-96 08:21:12 SHARYN J. LADNER resources is available at http://www.library.miami.edu/ with a clickable 'Table' icon. This brings up an index staff/sjl/biznet.html to the data tables described above.  S.J. Ladner, Mutual fund information on the World Wide Web: part 1. Issues and global resources, Business Sharenet Information Review. 13(2) (June 1996) 91100 http://www.sharenet.co.za/sharenet/index.html Language. English H.N. Tillman, Evaluating quality on the Net. Paper pre- sented at Computers in Libraries, Hyatt Regency Crystal Producer/authority. Sharenet appears to be produced City, Arlington, Virginia, 26 February 1996. Available at by Network Information Services, a South African pro- http://www.tiac.net/users/hope/findqual.html vider of Internet services and graphing software.  Canada: Post launches fund line, The Financial Post (16 Scope/special features. Sharenet provides daily South September 1995) p. 42 African unit trust prices and charts for investment trusts and unit trusts. Additional fee-based services J. Chevreau, Canada: mutual funds weave a wider web, The Financial Post (27 April 1996) p. 55 are also available from this site. Currency/stability. This site was reviewed on 9 J. Kershaw, Net benefits: unwary surfers may end up August 1996. The Web page was redesigned in July.swirling in whirlpools of confusion, but for those who know where to look, the Internet is rich with investment Ease of use. Very slow loading from the US. Not all tools and knowledge, BC Business (January 1996) p. 29 data labels on the charts are printed because some text is in white. New Internet services launched in UK, Funds Inter- national (March 1996) p. 4  Business info on the Web: a look at the top 10. In: Con- Fund company profiles vergence: Europe and the Net, A Quarterly Report on Mul- Examples of some fund company Web sites intimediaBusiness,WallStreetJournal'sMoney& developing countries are: RMB Fund ManagersInvesting Update (14 March 1996) (http://rmbfm.co.za/)inSouthAfrica;Nationalhttp://update2.wsj.com/update/reference/b-websit.html. Investment Trust Co., Ltd (http://www.nitc.com.tw/)[note: this article is no longer available on the Wall Street Journal Web site, article was retrieved 23 March 1996] in Taiwan; Arab-Malaysian Banking Group (http:// www.jaring.my/at-asia/arabbank/html/a serv.html) in TrustNet Web site offers fund details, Wall Street Jour- Malaysia; and UOB Asset Management Ltd (http://nal Europe (1516 March 1996). Cited in TrustNet Press Cuttings(26May1996).Availableathttp:// www.uob.com.sg/Investmt/Investmt.htm)inSinga- www.trustnet.co.uk/general/press.html pore. Keep in mind that these mutual funds (unit trusts) may only be available to residents of these New Internet Services Launched in UK, Funds Inter- national (March 1996) p. 4 countries. Others interested in investing in emerging market funds should evaluate funds offered by invest- R.A. Pagell and M. Halperin, International business ment firms registered in their home countries.information: how to find it, how to use it (Orynx, Phoenix, 1994) p. 101  M.M. Price, Emerging stock markets: a complete invest- mentguidetonewmarketsaroundtheworld Notes (McGraw-Hill, New York, 1994) p. 3  Morgan Stanley indices are being made available to the public on the MSCI Web site (http://www.ms.com/ S.J. Ladner, Mutual funds on the Internet, SLA Busi- ness & Finance Division Bulletin 100 (Fall 1995) 715.mscidata/perform/chart/Emerging.html) on a trial basis until 1 January 1997A hypertext version of this article with updated links to Business Information Review, 13(4), December 1996235 5069$$$$p101-11-96 08:21:12  S.J. Ladner, Mutual funds on the Internet, SLA Business & Finance Division Bulletin 100 (Fall 1995) 7–15. A hypertext version of this article with updated links to resources is available at http://www.library.miami.edu/ staff/sjl/biznet.html  S.J. Ladner, Mutual fund information on the World Wide Web: part 1. Issues and global resources, Business Information Review . 13(2) (June 1996) 91–100  H.N. Tillman, Evaluating quality on the Net. Paper presented at Computers in Libraries, Hyatt Regency Crystal City, Arlington, Virginia, 26 February 1996. Available at http://www.tiac.net/users/hope/findqual.html  Canada: Post launches fund line, The Financial Post (16 September 1995) p. 42  J. Chevreau, Canada: mutual funds weave a wider web, The Financial Post (27 April 1996) p. 55  J. Kershaw, Net benefits: unwary surfers may end up swirling in whirlpools of confusion, but for those who know where to look, the Internet is rich with investment tools and knowledge, BC Business (January 1996) p. 29  New Internet services launched in UK, Funds International (March 1996) p. 4  Business info on the Web: a look at the top 10. 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PY - 1996
Y1 - 1996
N2 - Part 2 of a two-part article reviewing the comprehensive, global, regional and multifunctional mutual fund resources available free on the World Wide Web (WWW). For Part 1 see Business Information Review, 13(2) June 1996, 91- 100. Whereas the resources reported in Part 1 were global in nature, those reported in Part 2 are regional and country specific. Resources are grouped into six geographic regions: the USA; the UK; other countries in the European Union; Asia-Pacific region; and emerging markets in Latin America, Eastern Europe, Africa and the Far East. Within each region, resources are arranged by five categories: subject hubs (full service sites); directories and indexes; performance data; reference guides, news and other resources; and mutual fund company profiles. Criteria used to evaluate the Web sites include: language; producer or authority; scope and special features; currency or stability; ease of use.
AB - Part 2 of a two-part article reviewing the comprehensive, global, regional and multifunctional mutual fund resources available free on the World Wide Web (WWW). For Part 1 see Business Information Review, 13(2) June 1996, 91- 100. Whereas the resources reported in Part 1 were global in nature, those reported in Part 2 are regional and country specific. Resources are grouped into six geographic regions: the USA; the UK; other countries in the European Union; Asia-Pacific region; and emerging markets in Latin America, Eastern Europe, Africa and the Far East. Within each region, resources are arranged by five categories: subject hubs (full service sites); directories and indexes; performance data; reference guides, news and other resources; and mutual fund company profiles. Criteria used to evaluate the Web sites include: language; producer or authority; scope and special features; currency or stability; ease of use.
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UR - http://www.scopus.com/inward/citedby.url?scp=0009147231&partnerID=8YFLogxK
U2 - 10.1177/0266382964236058
DO - 10.1177/0266382964236058
M3 - Review article
AN - SCOPUS:0009147231
VL - 13
SP - 221
EP - 235
JO - Business Information Review
JF - Business Information Review
SN - 0266-3821
IS - 4