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By Bill Atkinson and Bill Atkinson,SUN STAFF | January 17, 2002
T. Rowe Price Associates Inc. said yesterday that one of its best-known mutual fund managers, Charles "Chip" Morris, will leave the company in March. Morris, who has run Price's $5.3 billion Science & Technology Fund since 1991, said he is leaving to take a job with Integral Capital Partners, a Menlo Park, Calif.-based private investment firm that plans to open an office in Baltimore that Morris will oversee. "The opportunity to do all of the things they do was one I really couldn't pass up," Morris, 39, said yesterday.
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BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | July 11, 2007
Which Maryland congressman owed more than $10,000 in credit-card debt last year? Which one lost tens of thousands of dollars investing in his brother-in-law's company? Which Maryland senator gave the old portfolio a political face-lift? The answers, in the forms that senators and representatives just filed showing the previous year's financial activity, are worth a peek. If the measure of a man is revealed first in his friendships and second in what he reads, where he puts his money can't be far behind.
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BUSINESS
By WERNER RENBERG and WERNER RENBERG,1991, Werner Renberg | November 10, 1991
Few mutual fund groups have been hotter during this up market than the diverse bunch known as science and technology funds.They may be richly valued -- their average total return since the October 1990 stock market low is 62.7 percent, vs. 42.8 percent for the average general equity fund, according to Lipper Analytical Services. Still, they could be worth a look if:* You're interested in an aggressive equity fund that could outperform the broad market, as reflected by the Standard & Poor's 500 index.
BUSINESS
By CHARLES JAFFE | June 12, 2005
THROUGHOUT the mutual fund scandals, industry watchers couched their words, trying to make sure investors did not blow up their portfolios in a panic. Whenever a new fund company showed up on the police blotter, experts warned against outright dumping. They noted that a scandal-tainted company might have had funds that were not directly implicated in the scandal or that selling could unlock big capital gains. But in the new case of the Amerindo funds, there is no pussyfooting around. Get out. Now. That's the only logical decision in any case where the mere charges of wrongdoing guarantee that the fund you own will be changed.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | April 8, 1994
It's time for mutual fund investors to decide whether the cup is half empty or half full.The good news, for example, is that Merrill Lynch Technology Fund Class "A" gained 14.89 percent in the first quarter to rank among the nation's best-performing stock funds.The bad news is that the fund had been up a whopping 23 percent just 10 days before quarter's end, before the market deluge took its toll.It's that kind of volatile year. The average stock fund slipped 3 percent, with funds specializing in emerging markets, small company growth and utilities hit hardest.
BUSINESS
By BLOOMBERG BUSINESS NEWS | July 7, 1996
NEW YORK -- Daniel Leonard, who manages a technology fund at Invesco Trust Co., is playing it safe these days, focusing on established stocks.Leonard said he is moving "away from the Nasdaq for the moment," preferring to look "at the New York Stock Exchange, larger-cap stocks, where we feel the earnings are more predictable."A cautious strategy is crucial. "Because 1995 was such a great year, in terms of earnings growth," said the 21-year veteran of Invesco, "it's going to be very difficult to duplicate that."
BUSINESS
By Liz Atwood and Liz Atwood,Evening Sun Staff | August 30, 1991
Roger McNamee, the 35-year-old overseer of one of T. Rowe Price Associates' most successful mutual funds, has left the firm to start his own company in California.The announcement of McNamee's leaving was made to Price employees this week and shareholders will soon be notified by mail, said Steve Norwitz, the firm's spokesman.McNamee oversaw the $163 million Science and Technology Fund, which was ranked as one of the country's best sector funds.Charles "Chip" Morris, 28, who helped McNamee operate the fund, will now become the fund president, Norwitz said.
BUSINESS
By ANDREW LECKEY | January 13, 1995
Americans who stashed their money under the mattress in 1994 fared better than most folks who invested in stock mutual funds.The holder of the average stock fund suffered a 1.69 percent decline in the value of holdings last year, the first negative return since 1990.The best that can be said about that is it was better than the corresponding 3.70 percent average decline in the value of a taxable bond fund.Certainly no one's laughing anymore at those "boring" money market funds, whose investors earned an average of 3.76 percent for the year.
BUSINESS
By BLOOMBERG BUSINESS NEWS | June 9, 1996
*TC BOSTON -- There's something to be said for the no-name fund manager who still stays a step ahead of the competition.The names John Ballen, Daniel Leonard and Edward Antoian may not mean much to the average investor.Their long-term records, though, stand up against the likes of better-known managers Jeffrey Vinik and Mario Gabelli, Lipper Analytical Services Inc. reported.Ballen's MFS Emerging Growth Fund is up almost 220 percent in the past five years -- more than double Gabelli Asset Fund's gain in the same period, according to Lipper Analytical.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 30, 1995
A top fund manager at T. Rowe Price Associates Inc. said yesterday that she sees a shakeout coming among technology stocks, because too many companies have been taken public too quickly.Lise J. Buyer, vice president of the company's $2.2 billion Science & Technology Fund, said investors who stick with technology stocks for three years should fare well, but those looking for quick profits with relatively new companies could be disappointed."In the short term, I would urge caution," Ms. Buyer said in a telephone interview from the company's annual investment and economic outlook seminar for the news media in New York City.
BUSINESS
By CHARLES JAFFE | October 12, 2003
IN ANY CRISIS, the first thing people want is answers. The first answers they get are often wrong. So it has been with the scandals ripping through the fund industry. This month, Alliance Capital Management officially was drawn into the murky world of funds alleged to have given preferential treatment to big investors. The firm suspended two employees - one the respected manager of its technology fund - for behavior that represented a conflict of interest. To be sure, many more indiscretions are yet to be uncovered and acknowledged.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | May 19, 2002
Just two years ago, a wary T. Rowe Price Group Inc. watched largely from the sidelines as technology stocks made their stratospheric climb, causing its mutual funds to lag and critics to say the Baltimore-based firm was out of step with the "New Economy." Today the picture is drastically different. The cautious corporate culture that denied Price the huge gains on the way up shielded its fund holders from the big losses technology-heavy funds suffered on the way down. Price now has one of the strongest and safest stable of funds in the industry.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 17, 2002
T. Rowe Price Associates Inc. said yesterday that one of its best-known mutual fund managers, Charles "Chip" Morris, will leave the company in March. Morris, who has run Price's $5.3 billion Science & Technology Fund since 1991, said he is leaving to take a job with Integral Capital Partners, a Menlo Park, Calif.-based private investment firm that plans to open an office in Baltimore that Morris will oversee. "The opportunity to do all of the things they do was one I really couldn't pass up," Morris, 39, said yesterday.
BUSINESS
By CHARLES JAFFE | April 8, 2001
YOUR emotions may tell you to avoid technology right now, but your portfolio probably is saying something completely different. The huge losses suffered by the technology sector in the last 15 months have significantly altered the holdings of many average investors. Not only do they feel the pain of losses topping 60 percent in tech funds, but those very losses have thrown portfolios out of balance. Investment portfolios that were technology-heavy in 1999 may well be technology-light today.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 3, 2000
As investors full from a monthslong binge on Wall Street's buffet of biotechnology offerings pulled back from the table over the past several weeks, Alidad Mireskandari was readying another place setting for biotech investors. "I think there is a subset of investors who missed the first biotech boom and vow not to do that again," said Mireskandari, a portfolio manager at Monument Funds Group Inc. who will oversee a new fund designed to attract those investors. Monument executives believe that the Monument Genomics Fund, which they plan to launch this month, is positioned to catch a wave of excitement over companies that make gene-based medical treatments and the software and other tools to develop them.
BUSINESS
By Bill Deener and Bill Deener,DALLAS MORNING NEWS | May 30, 1999
Investors didn't seem to mind that Ryan Jacob had all of one year's experience managing money before taking over the reins of a mutual fund.Or that he invested in the most volatile sector of the stock market. Or that the fund's expense ratio was high. Or that until recently no one ever seemed to answer the telephones at the fund's North Babylon, N.Y., offices.Apparently, all that matters is that it has the right name -- the Internet Fund. Money has been pouring into Jacobs' fund and the three other Internet-related mutual funds over the past three months.
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 CHARLES JAFFE | June 12, 2005
THROUGHOUT the mutual fund scandals, industry watchers couched their words, trying to make sure investors did not blow up their portfolios in a panic. Whenever a new fund company showed up on the police blotter, experts warned against outright dumping. They noted that a scandal-tainted company might have had funds that were not directly implicated in the scandal or that selling could unlock big capital gains. But in the new case of the Amerindo funds, there is no pussyfooting around. Get out. Now. That's the only logical decision in any case where the mere charges of wrongdoing guarantee that the fund you own will be changed.
BUSINESS
By Jerry Morgan and Jerry Morgan,NEWSDAY | October 26, 1997
It is now 10 years after the 1987 stock market crash, and the number of stock mutual funds has more than tripled since then, to 2,915.It is also roughly seven years since the end of the 1990 bear market.All of which would seem to indicate that there are a lot of newmutual fund managers who have never known a down market.Executives at fund companies say there is no cause for alarm because there are always older, wiser managers around the office who have lived through market downturns. But Avi Nachmany, executive vice president of Strategic Insights Inc., a New York fund consulting business, says: "It may sound cynical to say that [fund]
BUSINESS
By Jerry Morgan and Jerry Morgan,NEWSDAY | August 3, 1997
In spring, an investor's fancy seems to turn to thoughts of technology. And you thought it was love. Well, the relationship is just as volatile, and often as frustrating, yet rewarding.After falling about 10 percent during the first three months of the year, the Nasdaq composite index jumped 31.6 percent between April 2 and July 16 before retreating a bit.Lipper Analytical Services Inc., which ranks mutual funds, found that from April 17 to July 17, funds in its science and technology category also rose 31.6 percent, on average, though the group is up only about 20 percent for the year.
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