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By WERNER RENBERG and WERNER RENBERG,1993 By Werner Renberg | April 25, 1993
Does an above-average dividend rate, below-average volatility and average-or-better long-term total return sound like a winning combination to you? Then consider investing in a well-managed utility equity fund.In the 12 months that ended March 31, funds concentrated in the stocks of electric, natural gas, and telephone utilities achieved an average total return of 22.8 percent, according to Lipper Analytical Services. That was well above the 15.2 percent return of the stock market as a whole, as measured by the Standard & Poor's 500 Index.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | January 31, 2014
Legg Mason reported Friday that it earned a profit of $81.7 million in the quarter ended Dec. 31, a turnaround compared to 2012, when it lost $453.9 million during the same period. That swing was driven largely by the Baltimore-based money management firm's one-time write-off of $734 million of certain assets a year earlier. Earnings per share were 67 cents, roughly on target with analyst expectations, but shares of the company slipped 95 cents Friday amid a broader market retreat to $42.35 each.
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BUSINESS
By Thomas Watterson and Thomas Watterson,Boston Globe | March 31, 1991
A client of Beth Gamel's recently started putting money in hi company's 401(k) retirement plan.He put it all in Magellan -- Fidelity's large, successful but often volatile growth stock fund. Why? "That was the only fund he'd ever heard of," she said.Ms. Gamel, a financial planner in Lexington, Mass., has heard people give worse reasons for the investment choices in their 401(k) plans. The most common, she said, is that some people don't want to lose any money -- ever -- in their retirement account.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 26, 2012
Legg Mason Inc. bounced back from its first loss since 2009 with a profit of $80.8 million in the quarter that ended Sept. 30, the Baltimore-based investment company announced Friday. In the previous quarter, Legg lost $9.5 million, blaming the shortfall on the costs of refinancing debt and launching two new funds. In the July-to-September quarter last year, Legg earned $56.7 million. On a per-share basis, Legg made 60 cents per share in the latest period, up from 39 cents in the same quarter last year.
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1993 By WERNER RENBERG | October 10, 1993
Up 18.1 percent and 5.2 percent, down 2.6 and 0.04 percent.The first two are the total returns for the first nine and the latest three months of 1993 for the Standard & Poor's/BARRA Value Index, which measures performance of the stocks in the S&P 500 Index whose share prices are lowest in relation to book values.The second two are the total returns for the same periods for the S&P/BARRA Growth Index, which measures performance of the remaining S&P 500 stocks with the highest price-to-book ratios.
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1992 By WERNER RENBERG | December 13, 1992
When stock prices reach record levels and speculation abou a correction makes you want to defer investing in equity funds, consider a convertible securities fund as an alternative.Say you had felt that stock prices had risen too fast last December following the Federal Reserve's discount rate cut, and you had invested in a good convertible securities fund in January 1992. You'd probably be happy with your decision.The average convertible securities fund had a return of 11.6 percent for the year through Dec. 3, according to Lipper Analytical Services.
BUSINESS
By WERNER RENBERG | December 27, 1992
It won't be long before 1992 becomes history and you'll be seeing the total return data that will tell you how your equity mutual funds performed this year in absolute terms.You'll also want to know how they did in relative terms -- and why.Comparisons with performance data for similar funds and relevant stock market benchmarks, such as the Standard & Poor's 500 Index, help you to know whether your funds did as well as you could have expected when you consider their investment objectives and policies.
BUSINESS
By Josh Friedman and Josh Friedman,LOS ANGELES TIMES | January 1, 2004
Investors continue to show faith in stock mutual funds despite the industry's trading scandals, pouring cash into equity funds at a pace not seen since 2000. Equity funds hauled in a net $14.9 billion in November - the ninth consecutive month of positive cash flows - and the inflow might be even higher in December, according to data and estimates issued this week. Fund flows measure investors' new purchases of fund shares, minus redemptions. Boosted by the bull market that has reversed three years of losses for stocks and lifted the Dow Jones industrial average back above 10,000, equity funds took in $138.
BUSINESS
By WERNER RENBERG | March 31, 1991
"I want to invest in your health-care fund," the caller tol Vanguard's service representative, "but I don't want to take any chances with my principal."He was obviously struck by the performance of Vanguard's Health Care Portfolio: a total return of around 35 percent since the stock market's turning point in mid-October -- not bad, if not as high as the average total return of around 50 percent calculated by Lipper Analytical Services for the group of health and biotechnology funds that it monitors.
BUSINESS
By WERNER RENBERG | May 5, 1991
Next to yields and rates of total return, few data on equity mutual funds are studied as much as cash ratios -- that is, the percentage of assets invested in U.S. Treasury bills and other cash equivalents.You can better judge a fund's performance record and prospects if you know whether its cash ratio is usually high, low or variable -- and why it has been rising or falling, if that's the case.Cash acts as a drag on fund performance during periods of rising stock prices. It acts as a cushion, however, when stock prices are falling, because cash always earns at least a modest return.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 20, 2011
After a brutal third quarter in which the United States saw an unprecedented downgrade of its credit, many weary investors are staying on the sidelines. Despite encouraging signs about new unemployment claims in recent days, uncertainty remains as the continuing European debt crisis threatens to erode an already fragile economic recovery in the United States. Meanwhile, investors fear that failure by the congressional "supercommittee" to reach a deficit-reduction plan by this week's deadline could further hurt consumer confidence, especially as the crucial holiday shopping season begins.
NEWS
By New York Times News Service | March 30, 2008
The Bush administration is proposing the broadest overhaul of Wall Street regulation since the Great Depression. But the plan, to be unveiled tomorrow, has its genesis in a yearlong effort to limit Washington's role in the market. And that DNA is evident in the fine print. Although the proposal would impose the first regulation of hedge funds and private equity funds, that oversight would have a light touch, enabling the government to do little beyond collecting information - except in times of crisis.
BUSINESS
By CHARLES JAFFE | October 30, 2007
File this under: "Everything old is new again." Eaton Vance Corp. released a survey of financial advisers this week that showed that a majority "now view equity income as a distinct asset class." If you have been a fund investor for awhile, you may be scratching your head, because there have been "equity-income" funds and "growth-and-income funds" for years - possibly even in your own portfolio - and you probably thought they already were an asset class. In fact, Lipper Inc. has a category for equity-income funds, and has had it as a separate asset class for years.
BUSINESS
By Allison Connolly and Allison Connolly,SUN REPORTER | October 25, 2007
Clients continued to pull their money out of stock funds last summer because of turmoil in the equity markets over the mortgage crisis, leaving Legg Mason Inc. with fiscal second-quarter earnings that rose 24 percent but disappointed Wall Street. Baltimore's Legg Mason also reported yesterday that three of the investment firm's largest equity managers have struggled with client withdrawals "caused primarily by recent underperformance." That includes Legg Mason Capital Management run by renowned stock picker Bill Miller, whose Value Trust fund in 2006 ended its 15-year string of besting the Standard & Poor's 500 stock index.
NEWS
By Peter Morici | August 15, 2007
The recent market meltdown had much less to do with bad subprime loans than advertised. It was caused more fundamentally by excesses at hedge and private equity funds. Those contraptions, invented by the sinfully wealthy barons of Wall Street, lied to themselves and their investors about the efficacy of their schemes. Now they are quiet as bad home loans take the rap for a global meltdown that the U.S. housing market is not large enough to cause. Essentially, hedge funds are pairing contracts to buy future stocks believed to be undervalued with contracts to sell stocks believed to be overvalued.
BUSINESS
By CHARLES JAFFE and CHARLES JAFFE,MARKETWATCH | June 4, 2006
Amy Domini likes stirring things up. As head of the company running the world's largest social investment fund, she has taken on corporate giants trying to improve the way they do business and make them better citizens. Recently, however, Domini stirred up her own fund, in a move that not only raises questions for shareholders in Domini Social Equity, but which highlights bigger philosophical questions facing investors in many index funds. Domini notified regulators that her fund (ticker DSEFX)
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 27, 2004
Baltimore-based T. Rowe Price Group Inc. reported an increase of more than 24 percent in third-quarter profit yesterday as investors shrugged off slipping market returns and poured $5.8 billion into the company's equity funds. Net income in the three months that ended Sept. 30 was $82.5 million, or 62 cents per diluted share, compared with $66.3 million, or 51 cents per share, in last year's quarter. The company's payroll and advertising costs were 21 percent and 32 percent higher, respectively, than they were a year earlier as the company hired more workers and stepped up marketing.
BUSINESS
By Werner Renberg and Werner Renberg,copyright 1991, Werner Renberg | March 3, 1991
Like most mutual-fund investors, you may be counting on equity funds primarily for capital appreciation and on bond or money-market funds for income. A large and growing number of investors, however, have been attracted to a group of equity funds that have income as their principal objective and appreciation as their secondary goal.They're known as equity income funds, and you may find them worth looking at because of their twofold appeal:* Their income distributions should grow over time with thdividends they get from the corporations whose stocks they own.* The types of high-dividend stocks they invest in heavily, such as utilities, tend to be less volatile than growth stocks.
BUSINESS
By LORRAINE MIRABELLA and LORRAINE MIRABELLA,SUN REPORTER | January 14, 2006
Eastpoint Mall in eastern Baltimore County will likely get an overhaul and some new retailers under a new owner, a New York-based private equity fund that announced the acquisition yesterday. The Thor Urban Property Fund, a unit of Thor Equities LLC, said it acquired the 844,463- square-foot regional mall anchored by Sears, Value City, J.C. Penney and Steve & Barry's University Sports- wear. Officials of Thor, who were not available yesterday, did not release the purchase price. But the mall, which had been owned by a partnership of Lehman Brothers and mall operator Shopco Advisory Corp.
BUSINESS
By CHARLES JAFFE | July 17, 2005
THE PROBLEM with traveling down the middle of the road is that you're being passed on all sides and are in constant danger of being run over. And yet when it comes to mutual funds, investors are flocking to the center of the pack, making dull, boring moderation seem like an absolute fad. The problem with this trend is not just that there can be a financial price to pay, it's that in the search for a simpler existence, some investors are messing up...
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