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Besides being the biggest of the 30-odd mutual funds concentrating on science and technology stocks, Sci/Tech boasts a prestigious international management team. Under Merrill Lynch's direction, assets in Japan and the Pacific Basin will be managed by Nomura Capital Management, Inc., an affiliate of Japan's largest securities firm, Nomura Securities Co., Ltd. West European investments will be handled by Lombard Odier International Portfolio Management Ltd., a London-based subsidiary of one of Switzerland's oldest and largest private banks. Merrill Lynch Asset Management, already the biggest U.S. manager of mutual funds, will handle Sci/Tech...
Advising Sci/Tech's investment specialists will be a council of scientists and other experts in fields ranging from biology to aeronautical engineering. Harry Woolf, who will head the council, is director of the Institute for Advanced Study in Princeton, N.J. Says Arthur Zeikel, president of Merrill Lynch Asset Management as well as Sci/Tech: "Our international scope, professional management and scientific advisory council will put Sci/Tech on the cutting edge of the rapid changes in science and technology around the globe...
...Egyptian president, like the Sphinx before him, remains enigmatic. Caught between the embarrassment of inaction during the Lebanese crisis and his endorsement of Camp David, Mubarak now clearly believes that close association with the United States is more a liability than an asset in helping reestablish Egyptian influence among the Arab nations. But whether he will risk all and gamble beyond just an exchange of ambassadors with Moscow is hard to say. Sadat had the strength of character and the nearly megalomaniacal confidence to reverse his country's course almost overnight: Mubarak, an unglamorously disciplined ex-air force officer...
Though it was not, of course, a requirement for the assignment, to a man and woman those involved in preparing this week's cover story on the growing problem of tax evasion declare themselves to be meticulous compilers with Internal Revenue Service rules. More surprisingly, and undeniably an asset in their tasks on the project, most also said that they calculated their own taxes, filed their own returns, and struggled valiantly with the quirks and variations of the law. Says Washington Correspondent David Beckwith, who prepares his own forms: "I took two courses in taxation at law school...
...funds for military personnel are cut, who will operate the high-tech weapons systems? The legislators who drew up the defense budget fail to recognize that the military's most valuable asset is its people, not its weapons...