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BUSINESS
By Charles Jaffe | October 17, 1999
THERE were more top-performing funds last quarter than usual. It's not that performance necessarily was better, it's that one of the major ways for tracking performance has changed.Lipper Inc. has changed the way it categorizes funds, a move designed to provide investors with more accurate data on what a fund really does and how it stacks up against competitors. Better and improved data is terrific, but it won't come without some short-term confusion, particularly when it comes to what investors see in the paper and in ads touting performance.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 27, 2010
For some people, it's not enough to make money on investments. They also want their portfolio to reflect their values. A growing number are flocking to socially responsible mutual funds that invest in companies that are progressive, environmentally friendly or adhere to certain religious principles — though not necessarily all at the same time. The Hartford, which administers retirement plans for companies and nonprofits, said demand has grown so much that last month it added several socially responsible funds, mostly faith-based, to its stable of investment choices.
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BUSINESS
By BLOOMBERG BUSINESS NEWS | September 1, 1996
CINCINNATI -- Centuries ago, the touchstone, a fine-grained stone, was used to test whether an object was pure gold."We hope we'll help our customers strike gold," said Edward Harness Jr., president and chief executive officer of the Touchstone family of mutual funds.Well, sometimes perhaps. Its stock funds have had a rocky time, under-performing their peers. When it comes to some of its bond investments, though, the Cincinnati-based fund company has done much better -- golden, in fact.The up-and-down performance of Touchstone during its first two years of operations indicates how difficult it can be for the new kid on the block to surpass the results of more experienced fund companies.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 14, 2010
T. Rowe Price Group Chief Executive James A.C. Kennedy told shareholders at the Baltimore money manager's annual meeting Wednesday that 2010 is shaping up to be a less volatile year in financial markets than the last two. "There's still plenty of uncertainty, but there's a lot more stability in the marketplace," he said. He also noted that research firm Lipper named T. Rowe the best large mutual fund manager in an award ceremony last month.
BUSINESS
By New York Times News Service | July 10, 1994
Among the myriad pieces of information an investor can sort through to pick a mutual fund, are "ratings" or "rankings" more useful?Rankings, of course, says A. Michael Lipper, who heads his own mutual fund research company where funds are ranked by performance. In a recent study sent to fund industry executives, he sharply criticizes ratings, epitomized by the system used by his big rival, Morningstar Inc., the research company based in Chicago.While it is easy to dismiss Lipper's complaint as the bad-mouthing of a competitor, he is highlighting an important debate for the investor and some of his points are well taken, although some are not.Lipper Analytical Services Inc., of Summit, N.J., produces its own mutual fund reports, which are widely distributed in the industry and often quoted by fund companies in advertisements.
BUSINESS
By HANAH CHO | January 3, 2009
Legg Mason Inc.'s Bill Miller, the Baltimore-based mutual fund money manager known for his record benchmark-beating performance, lagged behind the market for the third straight year in 2008. Miller's $4.3 billion Legg Mason Value Trust lost 55.05 percent in 2008, becoming the sixth-worst performing funds among 800 large-cap growth fund peers, according to preliminary data from Lipper Inc. released yesterday. The fund had beaten the Standard & Poor's 500 index for 15 consecutive years until the record was snapped in 2006.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 26, 1997
NEW YORK -- Investors are increasing their bets in emerging markets funds, and so are fund companies.STI Capital Management in Orlando, Fla., is one company that reckons emerging markets will be hot in 1997, so at the end of the month, it's opening a new fund, STI Emerging Markets Fund.Analysts expect STI will be getting much more company."We've heard a lot of chatter from fund companies" about starting emerging markets funds, said Michael Lipper, head of Lipper Analytical Services Inc. Twenty-eight funds (or new classes of funds)
BUSINESS
By Bloomberg Business News | December 11, 1994
NEW YORK -- For investors in Vanguard Group's Vanguard/Windsor Fund, last week's news that longtime manager John Neff plans to retire comes as a shock. Regretting Mr. Neff's exit is understandable, fund managers and analysts say, but it's not a reason to bail out of the fund."Fund holders would do well to look before they leap," said Scott Schoelzel, who co-manages $9 billion at Janus Funds in Denver. "Consider the experience and background of the new fund manager. That person can often contribute more than the public might expect."
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 14, 2010
T. Rowe Price Group Chief Executive James A.C. Kennedy told shareholders at the Baltimore money manager's annual meeting Wednesday that 2010 is shaping up to be a less volatile year in financial markets than the last two. "There's still plenty of uncertainty, but there's a lot more stability in the marketplace," he said. He also noted that research firm Lipper named T. Rowe the best large mutual fund manager in an award ceremony last month.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,1993 Washington Post Writers Group | August 1, 1993
New York -- The proliferation of mutual-fund ads shouting "We're No. 1" should raise a healthy doubt in the mind of every investor.Some of these funds are indeed tops, as that word is normally understood: the best performer among a large number of funds, over a reasonable period of time. Other funds find their "1" position by choosing cleverly among narrow fund categories or picking lucky 30-day time periods.Experienced investors know that these ads are probably fluff. The inexperienced, however, might be misled.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | April 12, 2009
The two best-performing Maryland mutual diversified stock funds were boosted in the first quarter by their holdings in consumer-oriented stocks, such as Apple and Amazon. Ellicott City-based Hussman Strategic Growth fund gained 7 percent while T. Rowe Price Group's New America Growth fund posted a positive return of 3.4 percent during the quarter. That may be surprising, given declining consumer confidence in a deepening recession. But consumers are still buying, just not as much. "Even though people seem to worry most about consumers, consumer spending has almost never declined materially on a year-over-year basis even in the current downturn," said John P. Hussman, the manager for his namesake fund, which also hedged its portfolio against the impact of market fluctuations.
BUSINESS
By HANAH CHO | January 3, 2009
Legg Mason Inc.'s Bill Miller, the Baltimore-based mutual fund money manager known for his record benchmark-beating performance, lagged behind the market for the third straight year in 2008. Miller's $4.3 billion Legg Mason Value Trust lost 55.05 percent in 2008, becoming the sixth-worst performing funds among 800 large-cap growth fund peers, according to preliminary data from Lipper Inc. released yesterday. The fund had beaten the Standard & Poor's 500 index for 15 consecutive years until the record was snapped in 2006.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | July 15, 2007
Latin America's surging middle class has discovered a love for cell phones, clothes, furniture and credit cards, propelling Mexican telecom and retail mogul Carlos Slim Helu past Microsoft's Bill Gates as the world's richest man, Mexico's financial Web site Sentido Comun calculated earlier this month. Gates lost the title when shares in Slim Helu's America Movil mobile phone company soared nearly 30 percent in the second quarter, adding billions to his fortune, which is now put at $67.8 billion.
BUSINESS
By CHARLES JAFFE and CHARLES JAFFE,MARKETWATCH | April 30, 2006
Most Americans are happy at this time of the year to think that they're done paying taxes for a while. But if 2005 was any indication, fund investors are only just beginning to pay Uncle Sam, and the damage is about to get a lot more noticeable. According to a study from Lipper Inc., estimated taxes paid by fund investors in 2005 were up 58 percent from 2004, with investors losing more than $15 billion to the government due entirely to mutual fund payouts. When next tax season comes around, Lipper senior research analyst Tom Roseen believes that taxes will be an even bigger drag on fund performance than expenses are, especially in fixed-income funds.
BUSINESS
By CHARLES JAFFE and CHARLES JAFFE,MARKETWATCH | April 9, 2006
There was no red carpet and no televised interviews with famous fund managers. No one teared up giving an acceptance speech. But the 2006 Lipper Fund Awards - and in fact any of the awards given out by the major research and data firms - should have left an impression on investors. The Lipper Fund Awards, annual prizes first presented in 2003, reward "consistently strong risk-adjusted performance." What investors should be focused on with the Lipper prizes - as well as Morningstar's Fund Manager of the Year awards - is not the names of the winners but the method for choosing them.
BUSINESS
By CHARLES JAFFE | September 11, 2005
THE MUTUAL FUND industry wasn't exactly celebrating the two-year anniversary of the largest scandal in its history last week. But it is breathing a whole lot easier because the worst is over, in two distinctly different ways. For starters, the behavior that dragged nearly 20 fund companies into the mud - allowing some shareholders the right to make rapid trades that were not permitted for all investors - appears to have stopped. Second, a whole bunch of perpetrators seem likely to get off scot-free.
BUSINESS
By Chicago Tribune | July 3, 1993
CHICAGO -- Gold funds have glowed the past three months, and mutual fund investors who ventured overseas with their dollars won better returns than those who kept their money on American soil, according to a quarterly analysis of stock mutual fund performance released yesterday by Lipper Analytical Services.General equity funds, most popular among average investors, achieved what Lipper called "normal" gains for the quarter, but they were hardly the kinds of returns to get excited about. On average, second-quarter gains for these general stock funds fell below the advances in the first quarter.
BUSINESS
By BLOOMBERG BUSINESS NEWS | May 26, 1996
NEW YORK -- Bob Stansky, the new manager of Fidelity Investments' $55 billion Magellan Fund, had better outperform the Standard & Poor's 500 stock index -- and fast, said Michael Lipper, president of Lipper Analytical Services Inc."If the average growth fund is up by 10 percent, he will need to be up 12, 13, 14 percent," said Lipper.What if the 39-year-old Stansky fails to top the performance of the benchmark equity index on a consistent basis?"I imagine he will be replaced," said Lipper, who founded his company 23 years ago and is regarded as a dean of the $3 trillion mutual fund industry.
ENTERTAINMENT
By Michael Pakenham | February 8, 2004
One of the most imaginative and effective developments in American book publishing in recent years has been the remarkable enterprise in which Kenneth Lipper, a financier and former deputy mayor of New York, has sponsored brief biographies or biographical essays through Viking Penguin. Beginning in 1999, the enterprise commissioned distinguished writers to produce popularly accessible lives of famous figures in 200 pages or less. The latest is Martin Luther: A Penguin Life by Martin Marty (Lipper / Viking, $19.95)
ENTERTAINMENT
By Michael Pakenham | May 5, 2002
History is made by individual humans -- great leaders, scientists, scholars and teachers who shape their eras. Good biographies are the most valuable window into the world's wonders and woes. It is distressing that so many biographies seem longer than the lives themselves. Some day, perhaps, I'll finish Master of the Senate, the third volume of Robert Caro's projected four-volume biography of Lyndon Johnson -- all 1,152 pages. It was released last week to virtually universal huzzahs. As a reporter, I covered Johnson for several years.
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