Recommend this page to a friend. Our panel of experts answers your mutual fund questions. Zurich Scudder Investments closed all of its funds to new investors and embarked on a growth strategy built solely on intermediary distribution, there must have been chills down a few backs that were not just from the legendary Chicago winter. Harrington says Scudder is interested in increasing the size of all of its adviser distribution channels. Inc. The only one that is not a bank is a third-party marketer that deals primarily with banks.
Banks are a big part of that.
In the end, Scudder will have just 67 funds. Individual investors will be issued S-class shares and will be retained indefinitely. Harrington's division handles banks, brokerages and wirehouses, and was formed by the combination of what were separate bank and brokerage divisions. Most obviously, banks are buying brokerages. Also the difference between banks and brokerages are not really that dramatic, And third, we are seeing the centralization of fund and variable annuity administration within banks.