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BUSINESS
By Sylvia Porter and Sylvia Porter,1989 Los Angeles Times Syndicate Times Mirror Square Los Angeles, Calif. 90053 | November 14, 1990
Mutual funds continue to attract small investors, as well they should. In a faltering economy and a soft stock market, you may become unnerved. Yet, whatever the economic outlook, buying these mutual funds still is one of the best ways to preserve and enhance your assets.Mutual funds offer you a diversified portfolio, professionally managed, something that otherwise would not be available to those of you who invest a relatively modest amount.Assets of all mutual funds were more than a trillion dollars in September, the latest month for which statistics are available, down slightly because of falling stock prices, says the Investment Company Institute.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 24, 2013
T. Rowe Price Group reported a 20 percent increase in earnings for the second quarter Wednesday, but a decline in assets under management when investors withdrew money contributed to a sharp sell-off of the company's stock. The Baltimore-based money manager said it earned $247.8 million in the April-to-June quarter, about 20 percent higher than the $206.8 million it earned a year ago. On a per-share basis, Price earned 92 cents for the quarter, three cents less than analysts expected, but more than its 79 cents profit a year earlier.
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BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun Knight-Ridder News Service contributed to this article | July 7, 1991
NEW YORK -- The stellar gains or demoralizing slides that frequently enliven the listings of mutual fund performance were missing during the past quarter.According to rankings by Lipper Analytical Securities Corp., equity funds dipped fractionally (0.84 percent) and taxable bond funds rose a bit (2.33).But the dramatic quarterly moves were in narrow areas, and in many cases these moves were mildly deceiving because they only marginally affected long-term trends.Still, the first half of 1991 has been quite kind to investors.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 27, 2013
T. Rowe Price has a reputation as a place where portfolio managers can spend their entire careers. But over 12 weeks this year, three fund managers left the Baltimore-based investment company or announced plans to do so. Two left suddenly, with a star manager taking two top analysts along. That's high turnover for any fund company, but particularly at Price, where the average tenure of a fund manager at the firm is 15 years. "It's out of character," said Laura Lallos, an analyst with Chicago-based Morningstar Inc., which tracks funds.
BUSINESS
By Odyll Santos and Odyll Santos,MORNINGSTAR.COM | June 18, 2000
Among funds with the largest median market capitalizations, growth funds with some investments in the technology sector were winners in the 12- and 24-month periods that ended June 6, Morningstar data show. Heading the list of the top one-year performers was American Capital Exchange, which counts chipmaker Intel and drugmaker Warner-Lambert among its top technology and health holdings. That fund, which also had the largest median market cap, returned 38 percent over the last 12 months.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 21, 1997
KANSAS CITY, Mo. -- American Century Investments has a new mutual fund that penalizes investors who think short-term.The company's Twentieth Century New Opportunities Fund, which opened Jan. 1, will charge fees of 2 percent, or $20 per $1,000, to any investor who pulls money within five years of buying shares.Christopher Doyle, a spokesman for American Century, said the redemption fee "emphasizes our position that investors should have at least a five-year time horizon."The fund requires a minimum initial investment of $10,000, far above average for U.S. stock funds, and limits investors to $500,000.
BUSINESS
By Jerry Morgan and Jerry Morgan,NEWSDAY | June 22, 1997
More than a year ago, it was suggested in this space that investors generally had no idea of how they were doing in their mutual funds. The fund companies told them how their funds performed, but fund performance and investors' returns can differ drastically, for many reasons.Recently, and purely coincidentally, Barry Barbash, director of the division of investment management of the Securities and Exchange Commission, has been suggesting that fund companies tell shareholders how they actually did, as well as how the fund performed, which is all they are required to do.Suggesting, that is. Not ordering or even talking about rule-making.
BUSINESS
By Bill Barnhart and Bill Barnhart,CHICAGO TRIBUNE | December 14, 1997
After last month's stock market plunge, I suggested that market sell-offs in the latter part of the year may reflect efforts by mutual fund managers and other institutional investors to bail out before they lose annual bonuses accumulated in the strong market earlier in the year.A reader sent me the following "dumb question" in response: "If the bonuses of portfolio managers contributed to the recent upheaval of the stock market, why hasn't the Securities and Exchange Commission scrutinized the bonus arrangement system?
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1991, Werner Renberg | October 6, 1991
Mutual fund performance data for the third quarter, past year and other periods that ended Sept. 30 have begun to appear. Total returns for the top 25 and bottom 25 performers were the first to be released. Results for all other funds will be out before long.Do these newly calculated total returns tell you all you need to know about your stock and bond funds? Can you use the new data to try to improve your fund portfolio's performance? How?When you see the returns for your funds, focus on those for the latest one-, five- and 10-year periods.
BUSINESS
By JULIUS WESTHEIMER | June 30, 2000
Midyear notes about your money: MUTUAL MEMO: "Fund performance - not the manager's longevity - is what matters," said Burton Greenwald, fund consultant. "Many managers with long experience performed badly in this bull market. Another warning: If a top-performing manager quits, watch the fund for six months, compare it with similar funds, then decide what to do." BE ALERT: "Check that your IRA beneficiary designations are properly on file as you approach age 70 1/2 because IRA trustees can lose paperwork on elections made many years ago."
NEWS
By Annie Linskey, The Baltimore Sun | February 16, 2011
The $100 million venture capital fund at the center of Gov. Martin O'Malley's legislative agenda faced tough questions Wednesday from state lawmakers, who worried about the risk to taxpayer money. The Democratic governor took the unusual step of testifying personally before Senate and House committees in support of Invest Maryland, a fund that he says would help Maryland entrepreneurs across the so-called Valley of Death they face when trying to find seed money to start a business.
BUSINESS
By CHARLES JAFFE | April 8, 2008
You can learn a lot by looking at the quarterly update of mutual funds and reading between the numbers. Knowing that the average fund investor isn't a big fan of sifting through charts filled with numbers, here are some nuggets that become evident from a careful reading of the quarterly results: Everything bad is good again. OK, maybe not everything, but a remarkable number of funds that are the absolute worst fund in their category over several long-term periods of time have been winners in the shortest of time frames.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | April 8, 2007
It was a quarter of contrasts that left mutual fund investors feeling whipsawed. In February, former Federal Reserve Chairman Alan Greenspan suggested a recession might be near. Then current Fed Chairman Ben S. Bernanke countered with a prediction of continued growth despite growing "uncertainties." The housing market sank, but nonresidential construction stayed strong. The subprime lending market continued to implode, but some other financial services did well. Oil prices spiked and inflation fears grew, but consumers kept buying flat-screen televisions and other consumer goods.
BUSINESS
By JENNY ANDERSON and JENNY ANDERSON,NEW YORK TIMES NEWS SERVICE | June 2, 2006
Talk about minting money. In 2001 and 2002, hedge fund managers had to make $30 million to gain entry to a survey of the best paid in hedge funds that is closely followed by people in the business. In 2004, the threshold had soared to $100 million. Last year, managers had to take home - yes, take home - $130 million to make it into the ranks of the top 25. And there was a tie for 25th place, so there were actually 26 hedge fund managers who made $130 million or more. Just when it seems as if things cannot get any better for the titans of investing, it gets better - a lot better.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 18, 2004
This past spring, the heroes of the mutual fund business hit it big investing in companies operating in some rather risky places - China, Russia, South Africa, Brazil and Mexico. But their reign has been short-lived. Rising interest rates and China's attempt to slow the country's sizzling growth rate made emerging market funds among the worst performers in the second quarter, down 9.52 percent from March to June, according to Lipper Inc., a New York-based firm that analyzes mutual fund performance.
NEWS
By Michael Dresser and Michael Dresser,SUN STAFF | April 16, 2003
Led by an irritated Comptroller William Donald Schaefer, the state's retirement fund trustees formally asked Gov. Robert L. Ehrlich Jr. yesterday to veto a bill passed by the General Assembly adding financial expertise to the pension board. The trustees' 9-4 vote to seek a veto of the legislation -- passed in the aftermath of an embarrassing scandal and poor investment performance -- represents a public gesture of defiance toward the retirement system's legislative overseers. Among those backing the resolution were two trustees who would be removed from the board under the bill -- State Police Superintendent Col. Edward T. Norris and state schools Superintendent Nancy S. Grasmick.
BUSINESS
By Ian Johnson and Ian Johnson,New York Bureau | January 30, 1993
NEW YORK -- The complicated world of investing in mutual funds may just have been made easier. Then again, maybe it didn't.Financial World magazine, along with Zacks Investment Research in Chicago, has come out with the first comprehensive attempt at predicting how mutual funds that invest in stocks will perform. That's a departure from the current practice of rating funds based on past performance."Everyone has been rating yesterday's winners, who tend to be tomorrow's losers," Associate Editor Lee Montgomery said.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 24, 2013
T. Rowe Price Group reported a 20 percent increase in earnings for the second quarter Wednesday, but a decline in assets under management when investors withdrew money contributed to a sharp sell-off of the company's stock. The Baltimore-based money manager said it earned $247.8 million in the April-to-June quarter, about 20 percent higher than the $206.8 million it earned a year ago. On a per-share basis, Price earned 92 cents for the quarter, three cents less than analysts expected, but more than its 79 cents profit a year earlier.
NEWS
By Erika Niedowski and Erika Niedowski,SUN STAFF | September 28, 2002
There's a framed cartoon in the corner of Christopher H. Whittle's Midtown Manhattan office that pictures a man in a business suit sitting expectantly before a fortuneteller and her crystal ball. "Why ask me what's going to happen?" the fortuneteller says. "Ask Chris Whittle." The founder and chief executive officer of Edison Schools Inc. does see himself that way -- as a kind of entrepreneurial seer. But some say the gap between how Whittle envisions his company's place in American education and the reality of Edison's performance in the complex and frequently politically charged world of public schools is widening.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | May 3, 2002
T. Rowe Price Associates Inc. said yesterday that it has reopened its New Horizons Fund, which had been closed to new investors for nearly six years, in an effort to staunch an outflow of money. Although New Horizons has grown to $4.8 billion in assets under management from $2.9 billion when it was closed in June 1996, withdrawals have outpaced new investment in three of the past five years and in this year's first quarter. The fund has had $700 million in net outflows this year, said John H. Laporte, who has managed New Horizons since 1987.
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