PRODUCT WATCH

Stein Roe large-cap offering sells for $10 a pop

Stein Roe & Farnham Inc. of Chicago has introduced a mutual fund that it will sell at the initial offering price of $10 a share until the closing bell on June 25. The Large Company Focus Fund, managed by David Brady, was launched on May 4. It seeks long-term growth of large-cap companies.

T. Rowe Price planner embraces Roth data

T. Rowe Price has updated its Retirement Planning Analyzer to include Roth IRA contributions and conversions. The software was developed with the assistance of Lynn Hopewell, a financial planner and president of Monitor Group Inc., a Fairfax, Va., financial and investment adviser to families

Investors can enter their cost basis of taxable investments. The new version automatically calculates the portion of income that represents tax-free return.

Japanese info on web from First Call

First Call Corp., a division of Thomson Financial Services, has partnered with General Solutions Inc., a Japanese investor relations specialist firm, to develop a new service called Corporate Direct, allowing direct access to financial information on Japanese companies. These companies also will be able to transmit financial news and information directly to global markets and will gain access to analyst reports. The information transmitted will be predominantly in English.

First Call and General Solutions hope to release the final version at the end of this month or early in June, when it will be available at www.firstcall.com. It will also be available over RD-J, a Japanese-language version of Research Direct at www.firstcall.co.jp.

Franklin adds insurance funds

Franklin Resources Inc. has introduced two portfolios for its Valuemark insurance products. The San Mateo, Calif.-based firm has added Global Health Care Securities Fund and Value Securities Fund to its Franklin Value, a deferred variable annuity, and to its Franklin Valuemark Life, a single-premium variable life insurance policy. Franklin has $242 billion under management.

State Street broadens its no-load line

Russell Fund Distributors Inc. has added four members to the group of 17 proprietary no-load SSgA Funds managed by State Street Global Advisors. The new funds are the SSgA International Growth Opportunities Fund, the SSgA Special Fund, the SSgA Real Estate Equity Fund and the SSgA High Yield Bond Fund.

The funds each carry a minimum initial investment of $1,000 and are available through sources that include Schwab Institutional Marketplace, DATAlynx, Jack White, Pershing, Fidelity Funds Network, LPL/Private Ledger and Royal Alliance.

Fleet introducing two fixed annuities

Fleet Financial Group is offering two new fixed annuities and an equity index annuity under the Galaxy name as a joint venture with Keyport Life Insurance Co.

The premium-deferred annuities are sold through Fleet’s branches and registered investment specialists.

Galaxy Fixed Annuity 5 and Annuity 7 require minimum initial investments of $5,000 and $10,000 and have surrender charges that phase out after five and seven years, respectively. Neither has front-end sales charges or administrative fees.

Annuity 5 offers a five-year guaranteed interest rate upon purchase; for Galaxy 7, the rate can be locked in for up to seven years.

The Index Annuity uses a formula that incorporates the Standard &Poor’s 500 stock index to calculate total return. It has a minimum initial investment

of $5,000.

Jackson National has annuity news

Jackson National Life Distributors Inc. has introduced enhancements to its life insurance company website to incorporate variable annuity information. New features of www.jacksonnational.com include two variable annuity-related information sections: JNL Broker Info, which provides sales and marketing information for registered representatives, and Variable Annuity, which provides product information for consumers.

Davis, Davis & Davis try growth & income

The new Davis Growth and Income Fund invests in a varying blend of stocks, real estate securities, convertible securities and traditional bonds according to an asset allocation approach used by Shelby M.C. Davis, Christopher C. Davis and Andrew A. Davis, who are chief investment officer and co-portfolio managers, respectively.

The load fund has an minimum initial investment of $1,000 for regular accounts and $250 for IRAs.

MFS variables give you options

MFS Investment Management has added a new series to its Variable Insurance Trust. Designed to be used in variable annuity and variable life insurance programs, the New Discovery Series is managed by Brian Stack. The portfolio’s investment objective is to seek capital appreciation.

Strong site rated a really strong site

Strong Intermediary Services has introduced a password-protected World Wide Web site that allows financial advisors to find customized information on the Strong Funds 24 hours a day, seven days a week, all year long.

Advisers will be able to download forms, prospectuses and other information. “Real video” technology will make live conversations with portfolio managers available online.

The site, www.strong-funds.com, was rated the No. 1 Internet site in 1997 by Financial Net News, an Institutional Investor newsletter covering Internet marketing activities at financial services companies.

Send product news and information to Wendy Hong at InvestmentNews, 220 E. 42nd St., Ninth Floor, New York, N.Y. 10017-5846.