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By EILEEN AMBROSE | September 25, 2005
Exchange-traded funds have a fast-growing fan club whose membership includes pension plans, hedge funds and professional investors and traders. Basically, ETFs are like an index mutual fund that can be traded throughout the day like a stock. You can't do this with mutual funds that are priced once a day when the market closes. So far, though, ETFs haven't been suitable for small investors who put a little each week or month in the markets. The reason is simple: commissions. Each time investors buy or sell an ETF, they pay a brokerage commission.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 23, 2013
After T. Rowe Price executives recapped last year's highlights at Tuesday's annual meeting, a shareholder raised concerns about the loss of a top money manager, competition from exchange-traded funds and an Obama Administration tax proposal that could dampen Price's retirement business. President and CEO James A. C. Kennedy said that Kris Jenner, the former manager of T. Rowe Price Health Sciences Fund, left "millions" in deferred compensation on the table by leaving the company in February.
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BUSINESS
By Carolyn Bigda | February 25, 2007
Buy a broad mix of stocks and bonds. Keep expenses low. Don't bother trying to beat the market's average return. That's been the mantra of index mutual funds since John Bogle, founder of the Vanguard Group Inc., introduced the first one in 1976. For many investors, the strategy has paid off. Now, the next generation of index investing - exchange-traded funds, known as ETFs - is coming of age and attracting a lot of attention. Like index mutual funds, ETFs buy a basket of stocks or bonds that mimic a particular market benchmark, such as the Standard & Poor's 500. But, in a twist on Bogle's creation, ETFs can be traded on the market throughout the day like an individual stock.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 14, 2013
Baltimore-based money managers T. Rowe Price and Legg Mason Inc. may offer actively managed exchange-traded funds after receiving a thumbs up from regulators. The Securities and Exchange Commission approved Price's application earlier this month to be allowed to issue active ETFs - the first, and most difficult, regulatory hurdle to entering the market. Legg received similar approval in mid-November, and now awaits the second step: the green light from the SEC to launch a specific fund.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | October 28, 2001
Exchange-traded funds have become a hot item among investors, but financial advisers warn that, despite their prominence, the funds are not necessarily right for everyone. Called ETFs, the funds are a cross between an individual stock and a mutual fund. They invest in an index, such as the Standard and Poor's 500, the way index mutual funds do. But investors can buy and sell them instantly throughout the day, just as they would stocks. "ETFs fill a nice niche but for most individual investors, utilizing a no-load indexed mutual fund might be more appropriate and more suitable," said Bryan Thaler, an investment counselor at the money management firm VanSant and Mewshaw in Lutherville.
BUSINESS
By Steven Syre and Steven Syre,Boston Globe | July 8, 2007
An explosion of new exchange-traded funds hitting the market is giving investors more ways to put their money to work every day. But how many do they really want? Exchange-traded funds, or ETFs, have attracted hundreds of billions of dollars as an alternative to mutual fund investments in recent years. Mutual funds still pull in much more client money than exchange-traded funds, but ETFs have established themselves this decade as competitive products that appeal to many investors. Their assets, just $130 billion at the end of 2003, had grown to $480 billion by May. Investment management companies have responded to that kind of demand by burying investors in new products.
BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | February 23, 2010
Baltimore's Legg Mason Inc. filed an application Monday with the Securities and Exchange Commission to launch actively managed Exchange-Traded Funds. Actively managed ETFs have been around for about two years and there are now less than two dozen, although that number is expected to grow. In December, Baltimore's T. Rowe Price Associates also filed an application with the SEC to launch a series of active ETFs. ETFs are similar to index mutual funds but can be traded throughout the day like a stock.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 23, 2013
After T. Rowe Price executives recapped last year's highlights at Tuesday's annual meeting, a shareholder raised concerns about the loss of a top money manager, competition from exchange-traded funds and an Obama Administration tax proposal that could dampen Price's retirement business. President and CEO James A. C. Kennedy said that Kris Jenner, the former manager of T. Rowe Price Health Sciences Fund, left "millions" in deferred compensation on the table by leaving the company in February.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,Sun Columnist | November 14, 2006
Roseann, a reader from Baltimore, says the investment returns on her mutual funds are being eaten up by fees. She complained to her financial adviser, who recommended exchange-traded funds, or ETFs. Roseann says she doesn't know much about ETFs. But she's interested in getting more from the mutual funds that make up one-third of her nest egg. What are ETFs? she recently called to ask. And what are the pros and cons? ETFs are basically index mutual funds that trade on an exchange like stocks.
BUSINESS
By CHARLES JAFFE | March 11, 2008
There will be a raft of exchange-traded funds opening the rest of this year, but chances are that investors should ignore most of the new issues. The expected creation of hundreds of new funds is the logical outcome of two rules proposals, and one rule change, approved by the Securities and Exchange Commission last week. If passed, as expected, after a comment period, the rules will streamline the approval process for ETFs, turning something that was tedious, time-consuming and difficult into a walk in the park.
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.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 26, 2011
Investment guru Peter Lynch once advised ordinary folks to "invest in what you know. " For many small investors, some of the companies they are most familiar with are the e-commerce and social media sites they use every day. Now some of these private Internet companies, such as Facebook, are expected to go public this year or next and will likely attract a rush of fans to their stocks. But even if you feel like you know these companies well, there is a risk in investing in them.
BUSINESS
By Hanah Cho, The Baltimore Sun | January 25, 2011
Joseph N. Geier established his namesake financial services firm in Howard County by cultivating an exclusive client list of professional athletes: Baltimore Orioles legend Cal Ripken Jr. , New York Yankees first baseman Mark Teixeira and Philadelphia Phillies pitcher Brad Lidge. Over the years since it was founded in the 1990s, Geier Financial Group expanded the business by managing the money of other wealthy clients and high-net-worth retirees in Maryland. Now Geier is getting into the competitive mutual fund business, having recently launched a new product intended to appeal not only to the firm's wealthy clients but also to mom-and-pop investors.
BUSINESS
By Eileen Ambrose Personal finance | March 28, 2010
W ith more than 900 exchange-traded funds, you can find one that fits every investment sector, strategy or mood you're in. Now get ready for even more variety with actively managed ETFs. This new product combines the tax and cost advantages of a regular ETF with the expertise of a professional money manager that you get with most mutual funds. Baltimore's Legg Mason and T. Rowe Price Associates, along with other fund companies such as Vanguard Group and John Hancock Funds, are seeking approval from the Securities and Exchange Commission to offer actively managed ETFs.
BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | February 23, 2010
Baltimore's Legg Mason Inc. filed an application Monday with the Securities and Exchange Commission to launch actively managed Exchange-Traded Funds. Actively managed ETFs have been around for about two years and there are now less than two dozen, although that number is expected to grow. In December, Baltimore's T. Rowe Price Associates also filed an application with the SEC to launch a series of active ETFs. ETFs are similar to index mutual funds but can be traded throughout the day like a stock.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | September 14, 2008
The mutual fund, time-honored champion of small investors, is facing a fast-rising challenger in the exchange-traded fund. They are fighting for your investment dollars. Although ETFs are much smaller, some experts predict they ultimately will win the long-term confrontation. "In a year such as 2008, when returns are low or negative, every 50 basis points [half of a percentage point] make a difference," said Tom Anderson, head of ETF research at State Street Global Advisors in Boston.
BUSINESS
By Andrew Leckey and Andrew Leckey,TRIBUNE MEDIA SERVICES | May 11, 2008
High investment costs remain out of mind when overall returns are strong. Why sweat decimal points when basking in 20 percent gains? But when returns turn meager or slide downward, hefty expenses become visible and painful. Although investors can find low-cost mutual funds, exchange-traded funds and bank accounts these days, it requires research and willingness to read fine print. "Keeping investment expenses low was important a decade ago, but now is critical," said Harold Evensky, certified financial planner with Evensky & Katz in Coral Gables, Fla. "You can't control markets, but you have some control over expenses, and that is important in a low-return environment."
BUSINESS
By Charles A. Jaffe | January 9, 2000
IN THE mutual fund business, the most important year is always the one that lies ahead. With that in mind, here is my annual attempt to call the shots on the big stories for 2000. Since I started this ritual back in 1995, about five in every seven calls have come out right, with most of the rest being premature, ahead-of-their-time predictions that simply took longer than anticipated to materialize. Not wanting to volunteer to look stupid, I long ago stopped forecasting the market. But I am not afraid to predict that fund investors will see the following things in the next 12 months: Layoffs at major fund companies.
BUSINESS
By Andrew Leckey and Andrew Leckey,TRIBUNE MEDIA SERVICES | May 11, 2008
High investment costs remain out of mind when overall returns are strong. Why sweat decimal points when basking in 20 percent gains? But when returns turn meager or slide downward, hefty expenses become visible and painful. Although investors can find low-cost mutual funds, exchange-traded funds and bank accounts these days, it requires research and willingness to read fine print. "Keeping investment expenses low was important a decade ago, but now is critical," said Harold Evensky, certified financial planner with Evensky & Katz in Coral Gables, Fla. "You can't control markets, but you have some control over expenses, and that is important in a low-return environment."
BUSINESS
By CHARLES JAFFE | March 11, 2008
There will be a raft of exchange-traded funds opening the rest of this year, but chances are that investors should ignore most of the new issues. The expected creation of hundreds of new funds is the logical outcome of two rules proposals, and one rule change, approved by the Securities and Exchange Commission last week. If passed, as expected, after a comment period, the rules will streamline the approval process for ETFs, turning something that was tedious, time-consuming and difficult into a walk in the park.
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