ZURICH KEMPER PARES MAINTENANCE FEES

Zurich Kemper Life in Long Grove, Ill., has reduced the maintenance fee for Kemper Advantage III accounts by an average of 17%, effective with the quarterly deduction that began March 31. Accounts under $25,000 will be charged an annual fee of $30. Account holders who currently pay less than $30 for annual maintenance will retain their current fees. The fee for accounts between $25,000 and $49,999 will drop to $15, while accounts over $50,000 are fee free. Account values include the value of any outstanding loans.

The company has also introduced five commission options for agents and representatives who write Advantage III contracts. They apply to each contract submitted and can vary from one application to the next.

Cato renovates Social Security site

The Cato Institute in Washington has revamped its website at www.socialsecurity.org. It now offers information on Social Security privatization, including studies, briefing papers, books, speeches and forums in audio/video format, and Cato’s Social Security calculator. The calculator enables visitors to compare their projected Social Security income with projected benefits from a privatized system. The site also includes news and commentary updated daily, and links to other websites offering information about the Social Security system.

Data Downlink adds global holdings data

Data Downlink Corp., a provider of online business information and services, and the Carson Group, a capital markets intelligence company, both in New York, have released Carson’s global shareholding database on Data Downlink’s user website, www.xls.com. The database allows users to query for securities and holders by sector, geography and security type, size and turnover. Standard holding reports and peer analyses are available in spreadsheets or can be printed out in presentation quality.

Chicago board helps test Y2K readiness

The Chicago Board of Trade has added a new section to its website, www.cbot.com, that provides Y2K-related exchange information. The Y2K section includes a question-and-answer feature, news and legal information, the CBOT Y2K Ready definition, and details on the CBOT Y2K test lab which replicates dates beyond Jan. 1, 2000 for testing hardware and software trading systems.

The Y2K section is located at www.cbot.com/y2k/.

Play real markets with virtual money

Do you dream of being a high-roller on the stock market, playing fast and loose with thousands of dollars each day? Do you lack the income to support such a habit? Virtual Exchange, located online at www.vexchange.com, makes your dreams a reality, and it’s only a mouse click away. This online stock market simulation allows members to play real stock markets with virtual dollars, along with the chance to win real prizes. Membership is free.

Virtual Exchange also holds tournaments allowing customers — for a fee — to pit their trading skills and knowledge against one another for cash and other prizes. Investors’ results are updated daily after the market has closed and then posted online.

Small-cap value? Step right up, please

American AAdvantage funds in Dallas-Fort Worth has introduced American AAdvantage Small Cap Value fund, subadvised by Brandywine Asset Management Inc. and Hotchkis & Wiley. Its investment objective is long-term capital appreciation and current income through investment in U.S. companies with a market capitalization of $1 billion or less at the time of investment.

The minimum initial investment is $2 million for the institutional class and $2,500 for retail investors.

Overseas funds hope to be discovered

Undiscovered Managers Funds in Dallas has launched two international funds investing in stocks principally traded in Europe, Asia, Australia and New Zealand. Both offerings, the UM International Equity and UM International Small Cap funds, require an initial investment of $250,000 and are sold primarily to financial intermediaries.

Online assistance for CPA software

Inphinet Interactive Communications and CPAssociates Seminars Inc. in Milwaukee has launched www.cpaonline.com. The site helps accountants and other financial professionals select accounting and business software. They then can use the CPA referral service to locate a software consultant who can assist with installation.

The website also provides an online request-for-proposals service that is distributed free to local members of CPA online’s network of consultants. Other features include daily news on accounting, e-commerce, Y2K and technology issues and a catalog of more than 300 accounting-related websites.