Advertisement
HomeCollectionsValue Fund
IN THE NEWS

Value Fund

FEATURED ARTICLES
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | November 9, 1999
Legg Mason Inc. launched a new value fund yesterday, saying the time is ripe for an investment style based on buying stocks that have temporarily fallen out of favor.The Legg Mason Classic Valuation Fund is managed by a team led by Tony Hitschler, chief investment officer of Brandywine Asset Management Inc., and Alec Cutler, Brandywine's managing director. Brandywine is a subsidiary of Baltimore-based Legg Mason."Traditional value has been out of favor for about four years, and the market tends to move in style cycles," said Cutler.
ARTICLES BY DATE
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 10, 2013
During the depth of the 2008 financial crisis when Bill Miller's funds were in free fall, a colleague advised him to get a dog. "I needed to change my luck," said the Legg Mason money manager, famous for beating the market 15 years in a row. "I reasoned that to have a bull market, you need a 'bull' dog of some sort. " Miller, 63, settled on an English bulldog he named after boxer Jake "Raging Bull" LaMotta. "The bulldog was the reason the market recovered," Miller said during a recent interview at Legg's headquarters in Baltimore's Harbor East.
Advertisement
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 6, 1998
T. Rowe Price Associates Inc. reopened its Small-Cap Value Fund to new investors yesterday after closing it 2 1/2 years ago when it was being flooded with more money than could be prudently invested.The Baltimore-based mutual fund company decided to reopen the fund after its assets had slipped about 30 percent, to $1.58 billion, from a high of $2.29 billion in March 1996.Last spring, about $150 million flowed out of the fund as investors dumped small stocks in favor of blue chips. The fund's manager had to sell shares in the portfolio to meet redemptions.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 29, 2013
The Legg Mason Capital Management Value Trust fund is doing something not seen in years: It's beating the stock market. Under new manager Sam Peters, the fund is up 27.8 percent in the past 12 months, compared with 20.6 percent for the S&P 500 index. Could the fund, which famously outperformed the market 15 years in a row before losing its footing, be turning the corner to a fresh winning streak? "Obviously, you always hope, but it is that old adage — take one day at a time," said Peters, who took over the fund's management a year ago in April.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | March 2, 1996
T. Rowe Price Associates Inc. said yesterday that it is indefinitely closing its popular Small-Cap Value Fund to new investors."The fund is at a size that is about as big as I think it can be to actually invest the money comfortably," said Preston Athey, president of the fund and its manager for 4 1/2 years.The fund's total assets have shot up by $590 million in the past 14 months to $1 billion. Net cash inflows, the amount of money investors have put into the fund minus withdrawals, have jumped to $480 million over the same period.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | May 24, 2002
T. Rowe Price Associates Inc. will close its Small-Cap Value Fund to investors at the close of business today, a move aimed at keeping the fund from becoming too large to manage. The Baltimore-based mutual fund company said the fund would continue accepting additional investments from existing investors, as well as direct rollovers from qualified retirement plans into new IRA accounts offered by Price. Companies typically close their mutual funds to keep them from being unwieldy, since it is more difficult to beat the market averages with funds that are too large.
BUSINESS
By Russel Kinnel and Russel Kinnel,MORNINGSTAR.COM | December 31, 2000
I'll take a look at funds worthy of immediate consideration. As luck would have it, many interesting value funds were launched this year just in time for the rebound. Vanguard U.S. Value: Co-manager Chris Darnell has produced strong results at GMO US Core and average results at GMO US Value. GMO picks stocks for the fund using quantitative models to good effect on the institutional side of its business. The fund should offer fairly broad-based, tax-efficient exposure to value stocks, and of course, it comes with a modest expense ratio.
BUSINESS
By BLOOMBERG NEWS | October 8, 2005
Wallace R. Weitz, a follower of Warren E. Buffett's investment strategy, spent about $200 million on shares of Wal-Mart Stores Inc. and Tyco International Ltd. in the second quarter as he tried to revive his Weitz Value Fund. The $4 billion fund, one of its category's best performers for much of the 1990s and during the three-year bear market that ended in 2002, is down 7 percent this year. Weitz Value ranks 95th in its class of 96 funds tracked by Bloomberg, beating only the $34.4 million Dreyfus Premier Select Fund.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 22, 2013
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay. Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg Mason Capital Management, left May 15 and are "pursuing other opportunities," said spokeswoman Mary Athridge. Sam Peters, manager of the Value Trust fund in the United States, last week replaced Gay as manager of the Value Fund that is modeled after the Value Trust.
BUSINESS
By Kevin McDevitt and Kevin McDevitt,MORNINGSTAR | September 19, 1999
Firsthand Technology Value Fund is on top of the world, but an impending change in managers could loosen the ground beneath its feet. Firsthand recently disclosed that Ken Kam -- half of the duo that has propelled this fund to earth-shattering returns -- will be leaving the firm in October to start his own shop. (Co-manager Kevin Landis will continue to guide the fund.)Talk about going out on a high note: Only a few months past its fifth birthday, this offering sports the best five-year return in the Morningstar database.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 22, 2013
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay. Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg Mason Capital Management, left May 15 and are "pursuing other opportunities," said spokeswoman Mary Athridge. Sam Peters, manager of the Value Trust fund in the United States, last week replaced Gay as manager of the Value Fund that is modeled after the Value Trust.
BUSINESS
Jay Hancock | November 20, 2011
Bill Miller didn't just make amazing amounts of money for himself, his firm and his clients for a while. He helped fill a hole in Baltimore's financial services industry. In the 1990s, the city was losing banking pillars such as Alex Brown and Maryland National Bank. But Legg Mason was building what would become a trillion-dollar money-management portfolio, thanks partly to Miller's ability to beat the stock market year after year. Thursday's announcement that he'll no longer pilot Legg Mason's flagship mutual fund starting April 30 underscores a plunge in fortunes for the firm and a question mark for Baltimore.
BUSINESS
By Hanah Cho and Jay Hancock, The Baltimore Sun | November 17, 2011
Legg Mason's famed stock picker Bill Miller will officially hand over the day-to-day management of the well-known Legg Mason Capital Management Value Trust fund to his successor, Sam Peters, on April 30, the Baltimore money manager announced Thursday. The announcement comes after Peters was named more than a year ago as successor to Miller, who has managed the Value Trust fund for almost three decades. Miller will also relinquish his role as chief investment officer of Legg Mason Capital Management to Peters.
BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,Chicago Tribune | September 7, 2008
It's a star-studded cast in mutual funds - and also a shocking flop on this year's complex investing stage. With the financial crisis playing out in ways many professionals failed to predict, and oil also surprising, some of the best and brightest of the fund business have turned into the biggest losers of the year. They include exalted names such as Bill Miller of Baltimore-based Legg Mason Value fund, Martin Whitman of Third Avenue Value fund, David Dreman of DWS Dreman High Return, Wally Weitz of Weitz Value, Mason Hawkins and Staley Cates of the Longleaf Partners team, Christopher Davis and Kenneth Feinberg of Davis New York Venture, and the team that manages American Funds Amcap fund.
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.
BUSINESS
By ANDREW LECKEY and ANDREW LECKEY,TRIBUNE MEDIA SERVICES | August 13, 2006
Why hasn't Eli Lilly & Co. stock performed better? It's a big retirement holding of mine. - R.C., via the Internet Although the pharmaceutical giant will continue to be a big-time player, its lowered expectations for the rest of this year have taken a toll on its stock. After previously forecasting 7 percent to 9 percent sales growth for 2006, management now expects results in the lower end of that range. That's due in part to disappointing sales of its insulin drugs. It also faces increased competition for its Zyprexa antipsychotic medication, which is its top-selling drug but has seen its sales slip slightly in the United States.
BUSINESS
By Russel Kinnel and Russel Kinnel,MORNINGSTAR.COM | March 12, 2000
In "The Hitchhiker's Guide to the Galaxy" trilogy, there is a guy who is a rain god but doesn't know it. Clouds follow him every day, and it rains wherever he goes. He's so familiar with rain that he has more than 100 names for the different kinds of rain. Chuck Royce reminds me of him. Royce specializes in small-value stocks, a market segment that has been under a cloud since slightly after the dawn of time. Like the rain god, Royce can see 100 different gradations of small value, and he's got a fund for nearly every one. He's got a conservative small-value fund that emphasizes dividends (Royce Total Return)
BUSINESS
By ANDREW LECKEY | October 2, 2005
I'm considering purchasing shares of Royce Value Fund. What is your opinion? K.T., via the Internet It has a clear strategy that has paid off handsomely for investors since the fund's inception in 2001. This knowledgeable fund specializing in small-cap stocks owns about 60 stock names, unlike some rivals that have 200 or more. By avoiding the smallest micro-cap stocks and sticking with more established names in the $500 million to $5 billion market-cap range, it is less volatile than most of its peers.
BUSINESS
By GAIL MARKSJARVIS | January 22, 2006
The stock market threw a party for investors during the first few days of this year. But if you think you were part of the festivities, you had better take a look at your portfolio. You might have left yourself off the guest list. The action recently has centered on growth stocks, relatively large company stocks and the mutual funds that invest in them - the funds that many investors dumped in terror as stocks crashed during the early 2000s. Another winner during the past two years has been international funds, an investment that countless investors fled in the late 1990s as the Asian financial crisis destroyed fortunes in developing markets.
BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | December 30, 2005
Legg Mason Inc.'s Bill Miller was taking a good-natured ribbing from co-worker and bond investor S. Kenneth Leech less than a month ago over the buzz surrounding whether Miller's flagship mutual fund could again outrun the Standard & Poor's 500 stock index. Leech, in his presentation at the investment firm's annual New York symposium, teased Miller for always having two market forecasts: "Stocks will go up, or stocks will go up a lot." But seriously, Leech said, no one at Legg Mason doubted the streak will continue.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.