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BUSINESS
July 7, 2003 | Josh Friedman, Times Staff Writer
On the radio show "A Prairie Home Companion," host Garrison Keillor likes to say of fictional Lake Wobegon, Minn., that all the children are above average. In the stock mutual fund industry, some portfolio managers scarred by the long bear market appear to be aiming for the same goal, but with a questionable strategy, according to Morningstar Inc.
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BUSINESS
April 5, 2013 | By Stuart Pfeifer, Los Angeles Times
Things at the Nicholas Fund in Milwaukee haven't changed as much as you might expect in its 44 years. Albert "Ab" Nicholas is still running the show, just as he has since it opened in 1969. He's still hunting for attractively priced stocks that his namesake fund can hold onto for years. And the minimum initial investment hasn't changed: a Main Street friendly 500 bucks. Nicholas, 82, is happy to talk about the fund's success. It's outperformed more than 90% of its peers this year, and over one-year, three-year and five-year spans.
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BUSINESS
April 20, 2004 | From Bloomberg News
Vanguard Group, the second-largest U.S. mutual fund company, hired William Blair & Co. to help run the $7.3-billion U.S. Growth Fund and bolster its performance. About 25% to 30% of U.S. Growth will be managed by William Blair, and the rest will be overseen by the fund's current manager, Alliance Capital Management Holding, Vanguard spokeswoman Rebecca Cohen said Monday. The two firms also will share responsibility for the $379-million variable annuity version of the fund. Alliance has run U.S.
BUSINESS
January 13, 2013 | By Stuart Pfeifer, Los Angeles Times
Try telling Bill Frels and Mark Henneman that buy and hold is dead. The managers of the Mairs & Power Growth Fund have owned all but one of their top 25 stocks at least a decade. In an industry that rewards risk takers searching for the next big trend, the St. Paul, Minn., fund managers have big stakes in companies that make Spam canned meat, Scotch tape and a paint sold at Lowe's hardware stores. Their slow, patient approach to investing has paid off - they were named Morningstar's domestic stock fund managers of the year for 2012.
BUSINESS
April 8, 1999 | Bloomberg News
Howard Ward, manager of the $2-billion Gabelli Growth fund, has avoided surging Internet stocks and lived to tell about it. Even without significant "pure play" Internet investments, Gabelli Growth ranks in the top 7% of U.S. growth funds--No. 37 out of 592--over the last three years, according to Bloomberg Fund Performance. Its 31.4% average annual return beat the Standard & Poor's 500 index, up 28.6% annually in the same period.
BUSINESS
March 10, 1998 | WALTER HAMILTON
In a year in which the S&P 500-stock index gained 33.4%, the PBHG Emerging Growth fund fell 4% in 1997. The Oberweis Emerging Growth fund gave up 8.6%. And the Van Wagoner Emerging Growth fund sank a heart-rending 20%. As an investor, should you sell these funds if you own them and steer clear of them if you don't? On the contrary, now may be the time to buy aggressive small-cap growth funds like these. That may seem like odd advice.
BUSINESS
July 7, 1989 | JONATHAN WEBER, Times Staff Writer
Mutual funds specializing in growth stocks survived a late-June downturn to lead a generally strong performance by equity funds in the second quarter of 1989, but experts cautioned that the market is likely to slow through the rest of the year. Two funds that target long-term Treasury bonds fared very well as a result of declining interest rates, although fixed-income funds continued to lag behind equity funds in overall performance.
BUSINESS
September 2, 2002 | JOSH FRIEDMAN, TIMES STAFF WRITER
At the height of the bull market, mutual funds that focus on large-capitalization growth stocks were the center of the fund universe, the "must own" category for millions of Americans. Many investors still own one or more of these funds. But the severe losses the category has suffered over the last 2 1/2 years have a lot of people questioning what went wrong--and whether they should stay put.
BUSINESS
September 28, 1993 | CHET CURRIER, ASSOCIATED PRESS
As mutual fund managers keep developing exotic new recipes to offer investors, it sometimes seems as though no one cares about plain vanilla growth funds anymore. A generation ago, these funds were the staples of the industry--practically the reason funds were invented in the first place. Until the 1970s, alternatives such as money-market funds and municipal bond funds didn't even exist. Today, growth funds still represent one of the more common types.
NEWS
January 8, 2001 | JOSH FRIEDMAN, TIMES STAFF WRITER
Last year was a rough one for most growth-stock mutual funds, but some managed to quietly rack up gains. The Times screened Morningstar Inc.'s database (http://www.morning star.com) to find growth funds that not only performed well last year, but also have done so consistently.
BUSINESS
September 14, 2011 | By Walter Hamilton, Los Angeles Times
After years of chronic underperformance, Fidelity Investments dumped the manager of its flagship Magellan fund. The mutual-fund giant announced that Jeffrey S. Feingold will succeed Harry Lange at the helm of the perpetually troubled fund. Magellan was one of the best-known and most successful funds in the 1980s under legendary manager Peter Lynch. But the fund has run through a string of poorly performing skippers since Lynch's retirement in 1991, and Lange ranked as one of the worst.
BUSINESS
July 24, 2011 | By Andrew Leckey
Question: I am a disgruntled Bank of America Corp. shareholder. Is there reason to expect improved results? Answer: The question for shareholders is how quickly the company can put mistakes behind it, significantly improve its controls and use its enormous size to greater advantage. It became the biggest U.S. bank after acquisitions of Countrywide Financial and Merrill Lynch, but in coming months it's likely to slip into second place in assets, behind JPMorgan Chase & Co. Sluggishness stems from bad loans from acquisitions and from lax practices in the past.
BUSINESS
February 27, 2011 | By Andrew Leckey
Question: Can the stock of Estee Lauder Cos. keep rising? Answer: This diversified skin-care, makeup and fragrance company has some attractive opportunities. Known for such brands as Clinique, Aveda and American Beauty as well as its Estee Lauder line, the company recently increased its short-term profit forecast, citing the return of luxury consumers to U.S. stores and significant gains in overseas markets such as China. In the fiscal year that ended June 30, Estee Lauder's earnings more than doubled to $478 million as sales rose 6.4% to $7.8 billion.
BUSINESS
February 13, 2011 | By Andrew Leckey
Question: I have seen stories lately about Molson Coors Brewing Co. How about that as a stock investment? Answer: You might not have expected Russians to be drinking Coors Light this winter, but this giant global brewer began distributing the beer in Moscow last year. The company also entered a joint venture with China's Si'hai Beer Co. to produce Coors Light and market it using a Chinese name that translates as "silver bullet. " The Denver company, formed by the 2005 merger of Adolph Coors Brewing Co. and Canada's Molson Inc., has cut costs and improved efficiency.
BUSINESS
September 19, 2010 | By Andrew Leckey
Question: I would like your opinion of my shares of Equifax Inc., which I have owned for some time. Answer: Equifax is one of the three major credit bureaus, along with TransUnion and Experian, whose core business is helping lenders assess the creditworthiness of prospective borrowers. There is little price competition in the industry, and it would be nearly impossible for a new competitor to amass comparable databases. As a result, the company is highly profitable, especially during strong economic periods, when many loans are being made.
BUSINESS
August 8, 2010 | By Andrew Leckey
Question: We hold shares of McDonald's Corp. in my son's college account. How strongly do you see them performing? Answer: In this, the summer of its new fruit-flavored yogurt smoothies, the world's largest restaurant chain is having a smooth ride. The latest offering in its McCafe drink line represents another in a long line of aggressively marketed items. Although McDonald's hasn't displaced Starbucks in the premium coffee market, it has made its mark as a noteworthy rival in that field.
BUSINESS
March 31, 1998 | OLIVIA BARBEE, MORNINGSTAR
Does asset size matter? Yes, but not in the way you might think. We all worry that our small-cap funds are getting weighed down with too much money, making it hard to buy enough good small stocks and thereby threatening their potential returns. But new Morningstar research indicates that we're focusing on the wrong thing. We should be watching our growth-oriented funds, not necessarily our small-cap funds.
BUSINESS
November 6, 2007 | From Reuters
The amount of money sent home by Mexicans abroad rose 1.38% to $18.2 billion between January and September this year compared with the same period a year earlier, the Mexican central bank said Monday. Remittances to Mexico, the top recipient of the money flows in Latin America, are expected to grow as much as 6% this year, compared with a 15% increase to $23 billion in 2006, as tougher U.S. immigration policies make life harder for Mexican migrants in the world's biggest economy.
BUSINESS
April 20, 2004 | From Bloomberg News
Vanguard Group, the second-largest U.S. mutual fund company, hired William Blair & Co. to help run the $7.3-billion U.S. Growth Fund and bolster its performance. About 25% to 30% of U.S. Growth will be managed by William Blair, and the rest will be overseen by the fund's current manager, Alliance Capital Management Holding, Vanguard spokeswoman Rebecca Cohen said Monday. The two firms also will share responsibility for the $379-million variable annuity version of the fund. Alliance has run U.S.
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