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By JANE BRYANT QUINN | March 14, 1993
New York -- Are you totally confused by mutual funds? Do you know you should own some but aren't sure exactly which types you should choose?Three mutual fund groups are offering free help. You fill out a questionnaire, giving such information as your age, your assets, your investment goals and how you feel about risk. In return, you get investment advice -- how much money to put in stocks, how much in bonds, how much in cash -- and prospectuses for the funds that the service recommends. All the funds are no-load (no upfront sales charge)
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | April 8, 2009
The head of a financing company planning to acquire Towson-based AmericasBank Corp. and inject the bank with more than $35 million in cash and assets said Tuesday that he sees a growing need for community banks in Maryland. Jack Dwyer, owner of Baltimore-based Capital Funding Group, said the next step for his company is to become a bank. Dwyer formed Capital Funding Bancorp Inc. this year and he announced Tuesday the acquisition of AmericasBank, a small Maryland bank hit hard by mortgage-lending losses last year.
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BUSINESS
By BLOOMBERG BUSINESS NEWS | May 2, 1996
WASHINGTON -- The U.S. Justice Department is investigating whether some of the country's biggest mutual fund groups acted illegally when they refused to buy securities at a recent municipal bond sale in Illinois.Vanguard Group, Keystone Investment Co. and John Hancock Funds said they were among the companies that federal antitrust investigators have asked to turn over information about the Illinois bond sale.The Justice Department's antitrust division confirmed that investigators are looking into "the possibility of collusive practices that may affect tax-exempt bonds," said spokesman Bill Brooks.
SPORTS
By Ken Murray and Ken Murray,Sun reporter | June 10, 2007
Jennifer Smith had to hit the ground running. There was rent to pay, food to buy, prescriptions to arrange. The executive director of the Gridiron Greats Assistance Fund had families of two ailing former NFL players to rescue in Austin, Texas. At the same time, there was an escalating war of words between the NFL Players Association's executive director, Gene Upshaw, and the retired players eager to remove him from office. "It was so hard to wrap my mind around this stupid name-calling - and whether Gene was going to break somebody's neck - when I'm out here buying groceries for [former]
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 19, 1999
For the first time in its 100-year history, Legg Mason Inc. agreed yesterday to buy an overseas mutual fund company.Legg Mason is paying $70 million for London-based Johnson Fry Holdings PLC. While the deal is small monetarily, it signifies an important shift for the Baltimore-based brokerage and asset management company, which is looking to expand globally, to follow the burgeoning world retirement market.Legg Mason Chairman and Chief Executive Officer Raymond A. "Chip" Mason's "whole theme now is to follow the 401(k)
BUSINESS
By BLOOMBERG BUSINESS NEWS | September 22, 1996
BOSTON -- The number of U.S. mutual fund companies requesting protective lines of credit from banks is up about 50 percent from a year ago, according to bank officials."
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1992, Werner Renberg | January 5, 1992
If you're among the investors who review their mutual fund portfolios every January, you should find the checkup more enjoyable than usual -- as well as more challenging -- this year.Because 1991 was an exceptional year for equity and bond funds generally, it should be a pleasure to contemplate your funds' total returns (price changes plus reinvested dividends).The challenge will come when you consider whether your money should remain allocated among your equity, bond and money-market funds -- or whether you should make changes to enhance your portfolio's performance or to reduce its risk level.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | November 19, 1995
The prospect of a slowing economy and of lower corporate earnings suggests that bonds may be a better place to be over the next 12 months than stocks.Earlier this month, David Blitzer, chief economist at Standard & Poor's, bumped up the bond portion of his model portfolio to 30 percent from 20 percent and cut his cash position to 10 percent from 20 percent."The Federal Reserve will ease once the budget battle is resolved, and rates will drift down," Mr. Blitzer said. As a result, he figures 10-year bonds could provide total returns of 6 percent to 10 percent next year.
BUSINESS
By New York Times News Service | October 30, 1992
NEW YORK -- A growing number of mutual fund investors are moving away from long-term bond funds, evidently fearing lower bond prices that could be brought on by higher interest rates, some mutual fund companies said yesterday. The investors seem to be shifting into stock mutual funds and money market funds.The drift from longer-term bond funds is by no means a rout, and some fund groups said their bond funds continued to pull in investor money. But it nonetheless signaled investor caution, which no doubt was brought about by rising interest rates and falling bond prices earlier this month.
BUSINESS
By BLOOMBERG BUSINESS NEWS | October 13, 1996
BOSTON -- Americans' paychecks are being deposited directly into mutual fund accounts at rates never seen before.Fidelity Investments, the No. 1 U.S. fund group, said the level of non-retirement direct deposit transactions in its retail mutual fund and brokerage accounts rose almost 50 percent so far this year, and over two years is up 78 percent.Tim Pitts, executive vice president at OppenheimerFunds Inc., said his firm has also seen an increase of direct deposits this year."There's no reason to have a bank account these days unless you need cash quickly," said Tony Sagami, marketing director of ProFutures Inc., a money management company in Austin, Texas.
NEWS
By Doug Donovan and Doug Donovan,Sun reporter | September 25, 2005
The former campaign treasurer for a Baltimore city councilwoman is vowing to fight charges of theft and embezzlement brought by the state prosecutor by contending that he followed his candidate's orders when spending money from her election account, according to his attorney. Momoh Abu Conteh has been charged with stealing money from Councilwoman Paula Johnson Branch at about the same time he was running for the state Democratic Central Committee as a member of Sen. Nathaniel J. McFadden's 2002 re-election ticket.
NEWS
By Scott Gold and Scott Gold,LOS ANGELES TIMES | May 27, 2005
AUSTIN, Texas - A fund-raising operation founded by House Majority Leader Tom DeLay broke the law when its treasurer failed to report more than $500,000 in corporate money funneled into Texas campaigns during the pivotal 2002 elections, a judge ruled yesterday. Texas District Judge Joseph Hart determined that the treasurer, Bill Ceverha, must pay five Democratic candidates who lost their elections a combined $196,660 in damages. The ruling marks the first time - amid a flood of lawsuits and criminal investigations surrounding the Republican Party's rapid rise to power in Texas - that a piece of the GOP's aggressive fund-raising operation has been found illegal.
BUSINESS
By Tom Petruno | September 19, 2004
There have been many players in the mutual fund industry scandal that erupted a year ago, but basically just one script: Regulators investigate and bring charges, and the accused settle by agreeing to pay large fines and change their ways - without admitting or denying guilt. Now, two former executives of the Pimco mutual fund group have decided against following the script. They want to force the Securities and Exchange Commission to prove, in federal court, that they broke the law. It's a high-stakes gamble for the two men, Stephen J. Treadway and Kenneth W. Corba.
NEWS
By Tom Pelton and Tom Pelton,SUN STAFF | August 31, 2004
After two years of getting battered by corporate cutbacks and a drooping stock market, the United Way of Central Maryland announced yesterday that it hopes to raise $40.4 million this year, about 2 percent more than last. Larry Walton, president of the fund-raising organization, said he hopes to attract more first-time donors by emphasizing the United Way's original mission, helping the poor. For the first time in the fall, the area branch of the United Way will not accept donations directed to private schools, arts organizations or churches, Walton said.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | June 20, 2004
Just two weeks before the 30th annual Fourth of July celebration at the Carroll County Farm Museum, a local service organization remains optimistic that it will raise enough money to keep fireworks in the event. The Old-Fashioned July 4th Celebration and Fireworks Display, which draws as many as 20,000 visitors to the museum in Westminster, is getting help this year from the Bonds Meadow Rotary Club. The group is organizing the event, scheduling volunteers and trying to raise about $20,000.
BUSINESS
By Christopher Davis and Christopher Davis,MORNINGSTAR.COM | January 13, 2002
Talk about a reversal of fortune. The perennial fixture of the laggards list, the precious metals category, was 2001's second-best-performing fund group. The bear market took a heavy toll on most diversified equity offerings, but the typical precious metals fund gained nearly 20 percent for the year, 32 percentage points better than the S&P 500 index. So what's behind the category's good fortune? Gold prices enjoyed a resurgence in early 2001, buoyed by a stagnant economy, a tumultuous stock market and fears that inflation would rise or the dollar tumble.
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1993 By WERNER RENBERG | July 4, 1993
As second-quarter total return data for your mutual funds become available, you'll be able to get a fresh reading on their performance -- in absolute terms and in comparison with both their categories' averages and relevant indexes of stock and bond prices.Although your funds may have been flat or down slightly, you may be reassured if their performance for the quarter, as well as for the latest 12-month and five-year periods, exceeded that of their peers and of indexes that reflect the markets in which they are invested.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | May 16, 1994
WASHINGTON -- How many mutual funds let you start with investments of $100 or less? At least 100, according to Morningstar in Chicago, and a random check of some well-known fund groups suggests that there are many more.Such small beginnings used to be a rarity. Funds offered to individuals more commonly require you to start with at least $1,000 to $3,000.But the competitive fund industry is getting more interested in small accounts. They attract first-timers, who may have more money in the future.
NEWS
By Mike Bowler and Mike Bowler,SUN STAFF | November 28, 2001
BACK IN 1998, the folks who run the Children's Scholarship Fund of Baltimore surprised everyone but themselves when 20,000 kids from low-income families applied for 400 scholarships to the city's parochial and private schools. The amazing thing was that they did it without a great deal of publicity and with no newspaper or television advertising. Final tabulations showed that 44 percent of eligible Baltimore families applied for the scholarships, financed in part by a small group of businessmen who wanted to prove that city children in public schools would switch to parochial and private schools given the chance and the wherewithal.
BUSINESS
By CHARLES JAFFE | August 12, 2001
IF YOUR investment education is lacking and you want to learn about anything from asset allocation to zero-coupon bonds, there's a good chance a mutual fund company can help. Since many fund companies now provide free investment education in the form of pamphlets and brochures, my summer reading mission was to find the best of the offerings. Each piece of literature was put to this test: "Is it worth a dirty look from my wife (the most patient and understanding woman in America) to keep it in a stack on the living room floor for another day?"
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