PR Newswire, Thursday, June 04, 1998 at 07:44
CHICAGO, June 4 /PRNewswire/ -- E*TRADE Group, Inc. (NASDAQ:EGRP), a
leading branded provider of online investing services, and Scudder Kemper
Investments, Inc., a global leader in investment management, announced today
that select Scudder Mutual Funds are now available without transaction fees
through E*TRADE's online Mutual Fund Center. As part of this new
relationship, E*TRADE customers are able to choose from more than 30 no-load
Scudder Funds online.
According to Brian Murray, Vice President and General Manager of E*TRADE
Mutual Funds, the addition of Scudder Funds will help set the E*TRADE Mutual
Fund Center apart from the competition. "We are excited to have formed a
relationship with one of the most well respected fund families in the
industry," Murray said. "Scudder Funds have historically enjoyed above
average performance and I am confident their addition to our Fund Marketplace
line-up will be well received by our customers who are looking to enhance and
broaden their mutual fund portfolio."
"As more and more individuals decide to invest online, we are pleased to
offer Scudder Funds to them through a premier online investing firm such as
E*TRADE," said William M. Thomas, Director of the Financial Intermediary
Services Group at Scudder Kemper Investments, Inc. "This relationship
furthers our strategy of giving investors the ultimate choice in how they
invest with us. They can go direct with Scudder Funds, through mutual fund
supermarkets, their personal financial advisor, or online."
The addition of Scudder Funds strengthens E*TRADE's expanding and popular
Mutual Fund Center. "This relationship brings together two important
components -- the highly regarded Scudder Funds which have instant name
recognition and stature in the mutual fund industry, and the undisputed
innovation and technology of E*TRADE -- this is a great addition to our Mutual
Fund Center as we work to make it the most comprehensive mutual fund investing
site available online," added Murray.
Launched in November of 1997, the E*TRADE Mutual Fund Center has grown to
feature more than 3,500 mutual funds, with more than 400 having no-loads and
no transaction fees. The Center also offers extensive online research and
proprietary screening tools, providing customers with pertinent data
about a fund including profiles, prices, historical charts and portfolio
holdings. Online prospectuses for all funds are also available.
About E*TRADE
A leading branded provider of online investing services, E*TRADE has
established a popular destination Web site for self-directed investors.
The company offers independent investors the convenience and control of
automated stock, options, and mutual funds order placement at low commission
rates, along with a suite of value-added products and services that can be
personalized, including portfolio tracking, Java-based charting and quote
applications, real-time market commentary and analysis, news, and other
information services.
Customers can access E*TRADE at etrade.com on the Internet as
well as through WebTV; via Prodigy; via AT&T Worldnet; via Microsoft Investor;
by GO ETRADE on CompuServe; with the keyword ETRADE on America Online; via
personal digital assistant; and via the TELE*MASTER interactive telephone
system. E*TRADE Securities, Inc., and its parent company, E*TRADE Group,
Inc., are headquartered in Palo Alto, California.
E*TRADE is a registered trademark of the Company. TELE*MASTER is a
trademark of E*TRADE Securities, Inc. All other trademarks are properties of
their respective owners. The statements contained in this news release that
are forwarded-looking are based on current expectations that are subject to a
number of uncertainties and risks, and actual results may differ materially.
The uncertainties and risks include, but are not limited to, changes in market
activity, the development of new products and services, the enhancement of
existing products and services, competitive pressures, system failures,
economic conditions, and the introduction of competing products having
technological and/or other advantages. Further information about these
matters can be found in the information included in the annual report filed by
the Company with the SEC on Form 10-K and quarterly reports on Form 10-Q.
About Scudder
Scudder Kemper Investments, Inc., is investment adviser to the Scudder
Funds, a family of 57 no-load mutual funds with approximately $28 billion in
assets under management. Scudder Kemper Investments is one of the leading
investment management organizations worldwide, managing more than $200 billion
in assets globally for mutual fund investors, retirement and pension plans,
institutional and corporate clients, insurance companies, and private family
and individual accounts. It is one of the ten largest mutual fund companies
in the U.S. Scudder Kemper Investments, Inc., is a member of the Zurich
Group.
For more complete information on any Scudder Fund, including information
relating to management fees and expenses, please visit the Company's Web site
at scudder.funds.com, or call Scudder Investor Services, Inc.,
distributor, at 1-800-225-2470 or write for a fund prospectus. Investors
should read it carefully before investing or sending any money.
SOURCE E*TRADE Group, Inc.
-0- 06/04/98
/CONTACT: Kim Shepherd, kshepherd@dgi-chicago.com, or Tim Ryan,
tryan@dgi-chicago.com, both of The Dilenschneider Group, 312-553-0700, for
E*TRADE; or William Haynes of Scudder Kemper Investments, Inc., 617-295-3021,
bill_haynes@scudder.com/
/Web site: scudder.funds.com
/Web site: etrade.com |
