PRODUCT WATCH

CPA institute hawking software to its members

The American Institute of Certified Public Accountants has formed a partnership with four developers to offer software for retirement planning, life insurance coverage, disability insurance, education funding and cash-flow analysis, among other things.

The products — PFP Notebook from Brentmark Software ($625 for AICPA members); FPLAN Professional Advisor+ from First Financial Software Inc. ($350 for members); Financial Planning Professional from Lumen Systems Inc. ($1,395 for members), and ExecPlan Plus System from Sawhney Systems Inc. ($2,050 for members) — are Windows based, Year 2000 compliant and reflect the 1997 Taxpayer Relief Act.

A complete description is available at www.aicpa.org/store/prpsoft.htm.

Cigna’s supermart joins web movement

Web surfers have yet another place to ride the market wave: www/cigna.com/trade.

Hartford, Conn., discount brokerage Cigna Financial Services’ new Internet site allows customers to order listed stocks and more than 4,600 mutual funds and get updated portfolio positions and other account information, stock and mutual fund quotes, links to on-line investment and financial sites, charts and other data.

Quantitative counts on foreign value. . .

Quantitative Group of Funds of Lincoln, Mass., is launching a portfolio that will invest in Western Europe, Australia and Asia.

The six-fund company calls it Quantitative Foreign Value Fund. It’s managed by Bernard R. Horn Jr., president of Polaris Capital Management of Boston. The fund takes initial investments of $5,000; $1,000 for individual retirement accounts.

. . .while Polaris targets value globally

Polaris Capital Management of Boston has unveiled its first retail mutual fund, the Global Value Fund, which it converted from a limited partnership when the partnership approached its ceiling of 99 investors. Minimum initial purchase is $2,500. Polaris manages $60 million in limited partnerships and separate accounts for large clients — like Quantitative Group.

American Skandia rides with Wells

American Skandia Life Assurance Corp. of Shelton, Conn. has added the Wells Fargo equity portfolio mutual fund to its variable annuity lineup. In a statement the firm emphasized “it was highly unusual” to offer a fund managed by a bank.

The fund’s manager, Rex Wardlaw, takes a value large-capitalization approach.

Jackson National has Perspective

Jackson National Life Insurance Co. of New York, which opened last month in Purchase, has introduced Perspective Fixed and Variable annuities, which allow registered representatives to combine asset allocation, risk tolerance and tax control strategies. Money managers offered include Fred Alger Management, T. Rowe Price-Fleming International, Janus, T. Rowe Price Associates, PPM America, Putnam Investments and Salomon Brothers Asset Management.

The company is a unit of Jackson National Life Insurance Co. of Lansing, Mich.

Portfolio accounting survey in the works

Spaulding Group of Somerset, N.J., is surveying financial advisers about its portfolio accounting system. Questions regarding the Year 2000 issue will also be included. Both U.S. and non-U.S. firms will be included in the survey.

Five portfolio accounting system vendors are co-sponsors: Advent Software, Global Investment Systems, SunGard/Shaw Data, Princeton Financial and CheckFree Investment Services. Spaulding hopes to have the results available in late August or early September.

Data Downlink now worldwide

Data Downlink Corp. has added international company data from Financial Times Information at www.xls.com.

The data cover 14,000 quoted companies from 53 countries, including between 350 and 500 accounting items, with up to 15 years’ history. Depending on the level of company disclosures, data provided includes balance sheets, profit and loss statements, cash flow statements, ratios, geographical segment analyses, business analysis tables, per-share data and interim and preliminary results. The information is updated weekly.

John Hancock starts European stock fund

John Hancock Funds of Boston has opened its first European stock fund. It is managed by Indocam International Investment Services, a subsidiary of Caisse Nationale de Credit Agricole in Paris. Minimum investment for regular accounts is $1,000; $250 for retirement accounts. It carries a front-end or deferred load up to 5%.

Pilot guides users to 15-minute updates

Pilot Online has launched StockFlash at www.pilotonline.com/ business, which provides continuously updated market and stock-performance information updated every 15 minutes. Investors can also receive instant quotes for up to 20 securities or indexes.

Platinum annuity kicking Gold aside

MFS Investment Management of Boston and Toronto-based Sun Life Assurance Co. of Canada have launched MFS RegattaPlatinum, which eventually will replace the Regatta Gold fixed/variable annuity. New features include a maximum anniversary value death benefit, investment options that offer two additional fixed series and six new variable series, and three asset allocation programs that will be rebalanced every quarter to maintain their initial weightings.

Platinum requires an initial deposit of $10,000 and a $35 contract fee. The initial deposit for new Gold contract holders remains at $5,000 with a $30 contract fee.

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