kasina Releases its Annual �Top 20� List of Retail Mutual Fund Web sites

Study Identifies Current e-Business Trends

NEW YORK CITY, (December 16, 2002) – kasina, a strategic consulting firm for the financial services industry, today announced the release of findings from its annual study on the leading retail mutual fund Web sites � �Top 20 Web sites�Mutual Funds.�

The annual kasina study is widely recognized as the industry’s most authoritative study of the e-business initiatives of asset management companies. For this year�s review, kasina evaluated 481 mutual fund company Web sites based on five categories: branding, content, online services, usability, and Web technology. Along with naming the Top 20, kasina also identified the �Top 10 Web sites � Small Fund Firms� (top sites from firms with $10 billion or less in U.S. mutual fund assets under management).

�While many firms have focused on the intermediary channel in 2002, the Top 20 and Top 10 firms have effectively developed an online presence for their prospects and shareholders� said Steven Miyao, CEO of kasina. �Regardless of a firm�s distribution model, investors have come to expect a superior level of online service from their asset management companies, and this year�s top sites are meeting that expectation.�

Trends from “Top 20 Web sites�Mutual Funds�

  • Nearly half (47%) of mutual fund company Web sites allow shareholders to view their account statements online, up from 23% in 2001.
  • Only 68% of industry sites consistently update their fund prices on a daily basis.
  • Over two-thirds (80%) of the �Top 20� sites offer shareholders an electronic delivery
    option for prospectuses, statements, and other materials, up from only 35% in 2001.

More trends are available in a free summary of findings available at www.kasina.com/whitepapers/top20.

2002 �Top 20 Web sites � Mutual Funds� (Alphabetically)

  • AIM Management Group www.aimfunds.com
  • American Century Investments www.americancentury.com
  • Ariel Mutual Funds www.arielmutualfunds.com
  • Charles Schwab & Co. www.schwab.com
  • E*TRADE Financial www.etrade.com
  • Fidelity Investments www.fidelity.com
  • Franklin Templeton Investments www.franklintempleton.com
  • Gabelli Asset Management www.gabelli.com
  • INVESCO Funds Group www.invescofunds.com
  • Liberty Funds www.libertyfunds.com
  • Mainstay Funds www.mainstayfunds.com
  • MFS Investment Management www.mfs.com
  • Oppenheimer Funds www.oppenheimerfunds.com
  • Salomon Smith Barney www.smithbarney.com
  • Strong Investments www.strong.com
  • TD Waterhouse Group www.waterhouse.com
  • TIAA-CREF www.tiaacref.com
  • T. Rowe Price www.troweprice.com
  • The Vanguard Group www.vanguard.com
  • Wells Fargo Funds www.wellsfargofunds.com

2002 “Top 10 Web sites – Small Fund Firms”

  • ABN AMRO Asset Management www.abnamrofunds-usa.com
  • Ariel Mutual Funds www.arielmutualfunds.com
  • Calvert www.calvert.com
  • Founders Asset Management www.founders.com
  • Gabelli Asset Management www.gabelli.com
  • Munder Capital Management www.munder.com
  • Pax World Funds www.paxworld.com
  • PBHG Funds www.pbhgfunds.com
  • RS Investments www.rsinvestments.com
  • Westcore Funds www.westcore.com