[2] DLJdirect Launches New Mutual Fund Family With Two Equity Funds.JERSEY CITY, N.J.--(BUSINESS WIRE)--Nov. 18, 1999-- Donaldson, Lufkin & Jenrette's Renowned Equity Research Will Be Instrumental in Portfolio Stock Selection DLJdirect Inc. (NYSE NYSE See: New York Stock Exchange : DIR), the online brokerage service of Donaldson, Lufkin & Jenrette, Inc. (NYSE: DLJ DLJ Distributor License for Java DLJ Donaldson, Lufkin & Jenrette Inc. DLJ Drive Like Jehu (band) DLJ Defence Laboratory Jodhpur (India) DLJ Dead Letter Journal ), announced today the introduction of the first two equity funds in a new family of no-load mutual funds No-load mutual fund An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges, however, such as Article 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee. that will be available through DLJdirect. The two new funds, which will be actively managed, are the DLJdirect Strategic Growth Fund and the DLJdirect Choice Technology Fund. The Adviser for the funds is DLJ Investment Management Corp. (DLJIM). DLJdirect Chief Executive Officer Blake Darcy said that the introduction of these funds is another example of DLJdirect's commitment to bringing value-added products and services to DLJdirect clients. "Access to DLJ Research is a compelling resource for our clients and a distinguishing factor that separates DLJdirect from the competition," he said. "Now, those clients who prefer to invest in mutual funds can also benefit from DLJ's famous research-based stock selection process through the DLJdirect Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". ." The DLJdirect Strategic Growth Fund invests in equity securities of a limited number of large, carefully selected companies that DLJIM believes are likely to achieve superior growth. The fund intends to hold securities of approximately 50-60 intensely researched companies with an average market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. in the range of companies that are included in the Standard & Poor's 500 Index. Under normal circumstances, the Strategic Growth Fund will invest at least 85% of its total assets in equity securities of U.S. companies that DLJIM believes have above-average long-term capital appreciation potential. The Fund's objective is long-term growth of capital. The DLJdirect Choice Technology Fund invests in the stocks of companies from a broad number of industries that comprise the U.S. domestic technology sector. This includes companies that use technology extensively in the development of new or improved products or processes, and the types of companies include computer hardware, computer software, telecommunication services, telecommunication equipment, electronics, semiconductor, semiconductor capital equipment, and Internet industries. The Fund may invest in listed and unlisted securities, well-known and established companies, and in new and unseasoned companies. Normally, the Technology Fund will invest 80% of its assets in securities of companies within the U.S. domestic technology sector. The Fund's investment objective is growth of capital. Hugh M. Neuburger, Ph.D., Managing Director and Director of Quantitative Analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: for DLJIM, is the primary portfolio manager of both funds. Most recently he has served as the primary manager of the DLJ Winthrop Growth Fund, co-portfolio manager of the DLJ Winthrop Growth and Income Fund, and co-portfolio manager of the DLJ Winthrop Small Company Value Fund since August 1995. DLJdirect is America's premier online brokerage firm. Established in 1988, DLJdirect offers a broad range of investment products and services to sophisticated, self-directed investors. DLJdirect has more than 700,000 customer accounts representing over $14.2 billion in assets. DLJdirect common stock trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "DIR." For more information on DLJdirect, refer to the company's World Wide Web site at www.dljdirect.com. Donaldson, Lufkin & Jenrette is a leading integrated investment and merchant bank serving institutional, corporate, government and individual clients. DLJ's businesses include securities underwriting; sales and trading; investment and merchant banking; financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal ; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management. Founded in 1959 and headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , DLJ employs approximately 9,700 people worldwide and maintains offices in 13 cities in the United States and 14 cities in Europe, Latin America and Asia. The company has two classes of common stock trading on the New York Stock Exchange. Shares trading under the ticker symbol "DLJ" represent Donaldson, Lufkin & Jenrette, Inc. Shares trading under the ticker symbol "DIR" track the performance of DLJdirect, its online brokerage business. For more information on Donaldson, Lufkin & Jenrette, refer to the company's World Wide Web site at www.dlj.com. The firm's world headquarters are located at 277 Park Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10172; telephone number (212) 892-3000. For more complete information on any of the DLJdirect Mutual Funds, including investment objective and policies, expenses, risks and other matters of importance to prospective investors, a prospectus may be obtained by contacting DLJdirect at 1.800.825.5723. You can also access the prospectus online by selecting "View Prospectus Online" from the Fund Profiles page, go to the "Research" area and click DLJdirect Mutual Funds (Web site) or Exclusive Fund Opportunities (MarketSpeed). Please read the prospectus carefully before you invest or send money. DLJdirect a Donaldson, Lufkin & Jenrette Company, is a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . |
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