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By BLOOMBERG BUSINESS NEWS | July 28, 1996
BOSTON -- Individual investments in U.S. equity mutual funds tumbled in July as the stock market endured one of its worst slumps since 1990 and investors shifted money to low-risk money market funds.Fidelity Investments, the nation's No. 1 fund group, said about $500 million was withdrawn from its domestic stock funds this month and $2 billion was added to money market funds.Fidelity's report of net outflows follows an industry report by AMG Data Services that said more than $4 billion was yanked from stock funds in the week ended July 17. It was the biggest one-week withdrawal since at least January 1992.
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NEWS
AEGIS STAFF REPORT | December 17, 2013
With a week to go before Christmas, the Empty Stocking Fund continues to close in on its fund-raising goal for 2013, while its volunteers are busy preparing to make the holiday season a little cheerier for Harford County's less fortunate children, families and senior citizens. Employees of Harford County Public Library presented a donation of toys collected from customers and staff to The Empty Stocking Fund on Dec. 12. Eleven library locations were toy drop-off sites this year. "We thank you so much for your support," Empty Stocking Fund volunteer Jane Brown said.
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BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 13, 1994
Give your trusty money market fund and bank certificate of deposit great big hugs.Even their modest yields beat the 5.84 percent decline posted by the average stock mutual fund in the first half of this year.The importance of diversifying holdings among different types of funds, rather than simply jumping from one bandwagon to another, is evident in the latest stock fund results.Last year's darlings, the emerging market and Latin American funds, have stumbled badly. So have gold-oriented and environmental funds.
NEWS
AEGIS STAFF REPORT | December 3, 2013
The Empty Stocking Fund is still nearly $50,000 short of its goal of $80,000 to help the needy of Harford County this Christmas season. As of Sunday, the fund had received $30,700. Support of The Empty Stocking Fund helps make the dreams of underprivileged children come true. Anyone who would like to help brighten the holidays for a needy family, can send a check to The Empty Stocking Fund, P.O. Box 189, Bel Air, Md. 21014. The needs have grown enormously over the years and the Empty Stocking Fund is supported totally by contributions.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | October 7, 1994
Happy days are here again in stock funds, but no one knows exactly how long they'll last.Thanks to high-flying results from positive elections in Brazil and Mexico and a resurgence in gold-mining equities, stock mutual funds as a group rallied for a 5.08 percent gain in the third quarter. That's the strongest return in nearly two years, ending a string of two down quarters.All is not smiles, however. For the year, the average stock fund is up just 0.08 percent, led by carefully managed technology stocks and a revival in the Japanese market, which only recently has fizzled.
BUSINESS
By BLOOMBERG NEWS | December 7, 1997
NEW YORK -- With the year fast drawing to a close, Merrill Lynch & Co. leads the pack among the nation's leading managers of diversified U.S. stock mutual funds -- at least from a performance standpoint.The loser was New York-based OppenheimerFunds Inc., according to the research firm Morningstar Inc., which analyzed the aggregate returns of diversified U.S. stock funds managed by the nation's 10 biggest fund groups.Merrill's seven diversified U.S. stock funds rose an average 26.70 percent, exceeding the average 25.80 percent return of Vanguard's 23 diversified stock funds, which finished second in Morningstar's survey.
BUSINESS
By Thomas Watterson and Thomas Watterson,Boston Globe | May 10, 1992
Mutual funds are used to meet a lot of goals. One mentioned most often is saving for retirement.But what about after retirement? For many retirees, the last day of work is the day they start concentrating on capital preservation and income. Funds that invest in U.S. Treasury securities, government agency securities and high-grade corporate bonds suddenly get all their attention.Meanwhile, funds that invest in stocks are retired from the portfolio."That's a mistake," said Patricia A. Ganley, editor of Mutual Fund Preview, a newsletter published by the Financial Research Center in Holliston, Mass.
BUSINESS
By WERNER RENBERG | January 10, 1993
Many of those who market small company stock funds take it on faith that, since seven fat years from fall 1976 to summer 1983 were followed by seven lean years, we're now in another fat period for small company stocks that has four or five years to go.They would also have you believe that the behavior of small company stocks is predictably cyclical -- in that they alternatively lead and lag large company stocks -- even if it's not quite guaranteed.Therefore,...
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | August 3, 1994
No excuses.The nation's biggest stock funds don't have to apologize to anyone for having billions of dollars in assets.Perhaps they can't turn on a dime like smaller funds. They may not make the top of the list of best-performing funds in a given quarter.But make no mistake. They're where the money is, thanks to the longevity of their returns and the trust of their shareholders. They get undivided attention from their fund families and are assigned the finest portfolio managers their formidable assets can buy.Though a manager may be less likely to swing for the fences when billions of dollars are at stake, he'll certainly do his homework before stepping to the plate.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | April 14, 1993
In 1993, the worms have turned:This year's top-performing stock mutual funds were out of favor for so long that many investors had nearly forgotten about them.Volatile gold funds, an utter disaster for years, surprised the experts by leading the way in the first quarter with a 22 percent average gain. Inflation concerns and tightening world gold supply were behind that move."I think we're getting economic recovery in a five-year bear market for gold," says Caesar Bryan, portfolio manager of top-ranked Lexington Strategic Investments Fund, up a dramatic 72.73 percent.
NEWS
AEGIS STAFF REPORT | November 19, 2013
The annual push is on to fill The Empty Stocking Fund to help the less fortunate families of Harford County. The goal again this year is $80,000; as of Monday, donations received totaled $23,970, so there's still a long way to go to fill it. Recent donations came from Carl and Helen Schlaich, $100; Gregory and Anne Fox, $225; Lauren C. Woodburn, $100; Newcomers Club of Harford Co., $100; Robert and Susan Mengel, $100; Anne and Terry Hottie, $100;...
NEWS
AEGIS STAFF REPORT | November 14, 2013
More donations have been received this week by the Empty Stocking as the Harford County based charity works toward its 2013 fundraising goals. The fund raising goal for 2013 is $80,000. As of Thursday, the fund has received $21,740 in monetary donations. Many thanks for the latest donations received that came from Randall and Gina Pace, $1,300; Charles J. Karl, in honor of Patty L. Karl, $200; Dorothy B. Higinbothom, $100; Edward A. Cockey, $100; Charles W. Irwin, $100; Martin Connors, Jr., $100; Bill and Linda Reuling, $100; Connie Blumberg, $100; Sandy and Ed Evans, $100; Joanne Bowman, $500; Joseph Andersen, $200; Lois Jahnigen, $100; and BB&T Bank, Branch Banking and Trust Company, $500.
NEWS
AEGIS STAFF REPORT | November 12, 2013
In it's 24th year, the Empty Stocking Fund is once again planning to help hundreds of less fortunate Harford County residents during the Christmas Season. The Empty Stocking Fund is a nonprofit 501c-3 organization founded in 1990 to help needy residents of Harford County during the holidays. The Empty Stocking Fund helps with food; and clothing and toys for the children. The Fund assisted more than 350 Harford County families in 2012. The Empty Stocking Fund accepts monetary donations, new unwrapped toys and new books.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 25, 2013
Legg Mason Inc., which continues to struggle with money flowing out of its stock funds, reported Friday it earned $86.3 million in the second quarter ended Sept. 30, a 6.8 percent increase over a year ago. On a per-share basis, the Baltimore-based money manager earned 70 cents in the quarter, compared with 60 cents the year before. That was well above analysts' expectations of 62 cents per share, said Christopher Harris, a senior analyst with Wells Fargo Securities, in a research note.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 8, 2013
Baltimore's Legg Mason Opportunity Trust, co-managed by well-known stock-picker Bill Miller, is the top-ranked U.S. diversified stock fund for the third consecutive quarter, according to a Wall Street Journal ranking. Miller and his co-manager, Samantha McLemore, buy shares that have fallen substantially because of dim prospects for the company, The Wall Street Journal said. The duo, for example, snapped up shares of Netflix and Best Buy before their stock recovery. These purchases contributed to Opportunity Trust's 55.1 percent return for the past 12 months and 31.6 percent gain for the first half of this year, the Journal said.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 24, 2013
T. Rowe Price Group reported Wednesday that profit rose 22 percent in the quarter from a year ago to $241.9 million, buoyed by an uptick in the market that pushed assets under management to a new record. The Baltimore-based money manager earned 91 cents a share, beating analysts' expectations of 89 cents. Still, Price's stock closed Wednesday down by more than 4 percent, at $72.75 per share, because of lower-than-anticipated cash inflows. "The flows were a little on the disappointing side," said Jeffrey Hopson, a senior analyst with Stifel, Nicolaus & Co. in St. Louis.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,1991, Washington Post Writers Group | September 22, 1991
New York -- If you're an income investor today, you're having a hard time. Everywhere you turn, capital seems to be earning less. One-year certificates of deposit offer an average of 5.7 percent interest, according to the Bank Rate Monitor. Money-market mutual funds are averaging 5.1 percent, down from 9 percent just two short years ago.At these rates, your money will never accomplish its primary function, which, in the words of Joe Louis, is to quiet the nerves.A 6 percent rate of return, minus one-third for taxes and adjusted for 3.5 percent inflation, leaves you a real investment return of one half of 1 percent.
BUSINESS
By BLOOMBERG NEWS | January 18, 1998
NEW YORK -- A California research group reports that investors are withdrawing cash from U.S. and international stock funds this month amid the tumult in world markets.Some of the money is being shifted to bond funds and money market funds, where returns tend to be more predictable, says the group, Trim Tabs Financial Services Inc. of Santa Rosa.An estimated net $1.4 billion was pulled from stock funds in the first five business days of the month, according to Trim Tabs, which tracks fund flows reports.
NEWS
AEGIS STAFF REPORT | December 24, 2012
Thanks to more generous donations between last Wednesday and Saturday, The Aegis Empty Stocking Fund moved well past its 2012 fundraising goal before Christmas. As of Sunday morning, the Empty Stocking Fund had received $84,064 in monetary donations from Harford County residents, businesses, organizations, churches and schools. This year's fundraising goal was set at $80,000. In addition to the money received, the Empty Stocking Fund also received thousands of dollars worth of donated news toys and books.
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