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BUSINESS
September 8, 1998 | RUSS WILES, Russ Wiles a Phoenix-based mutual fund columnist for The Times
Many mutual fund investors in the 1990s have relied upon analytical tools provided by Morningstar Inc. of Chicago, an independent fund tracking firm. In particular, the company's "star" ratings are frequently quoted in investment articles, cited in advertisements and used by many people as a quick guide for narrowing choices among funds.
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BUSINESS
September 8, 1998 | RUSS WILES, Russ Wiles a Phoenix-based mutual fund columnist for The Times
Many mutual fund investors in the 1990s have relied upon analytical tools provided by Morningstar Inc. of Chicago, an independent fund tracking firm. In particular, the company's "star" ratings are frequently quoted in investment articles, cited in advertisements and used by many people as a quick guide for narrowing choices among funds.
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BUSINESS
October 20, 1998 | Bloomberg News
A trader at Scudder Kemper Investments has left the firm after making trades that resulted in losses for the $1.14 billion Scudder Short-Term Bond Fund--losses the firm says it will cover for its investors. Scudder said it decided to cover the fund's losses because that would be "in the best interest of shareholders." It declined to disclose the size of the losses. Scudder's decision is unusual in the mutual fund business.
BUSINESS
September 14, 2013 | By Tom Petruno
Never let a crisis go to waste, says an old rule of politics. For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity. Although the memories that the anniversary evoke are overwhelmingly grim - cascading home foreclosures, bank failures, massive layoffs, diving stock prices - five years later some spectacular winners have emerged from the maelstrom, along with a more familiar list of pitiable losers.
BUSINESS
March 2, 2000 | PAUL J. LIM
Contrary to popular belief, value investing is alive and well. At least, Denver-based Janus Funds' version of value. The nation's fastest-growing fund manager, famous for its go-go growth stock portfolios, recently opened its first value-oriented offering, Janus Strategic Value--and promptly raised more than $1.5 billion during its 30-day subscription period.
BUSINESS
February 13, 1998 | From Bloomberg News
The level of fresh investments in U.S. stock mutual funds last month was about two-thirds of the amount that flowed into these funds in January 1997, while bond fund inflows were the highest since August 1993, an industry group said Thursday. The Investment Company Institute said a net $18.5 billion was invested in stock funds last month, down from last January's record $28.9 billion.
BUSINESS
July 7, 1999 | Bloomberg News
Brandywine Fund is rebounding from a woeful 1998 caused by the managers' ill-timed decision to sell stocks and raise cash. Brandywine, led by money manager Foster Friess, is up 17.9% this year as of Friday, exceeding the 13.9% gain of the Standard & Poor's 500 index. Last year the fund fell 0.7% as the S&P 500 soared 28.6%. The difference: Brandywine Fund had just 2.5% of assets sitting idle in cash at the end of June. That's about half what the average U.S.
BUSINESS
April 17, 1999 | From Times Staff and Wire Reports
Janus Capital Corp. will close its top-performing Janus Twenty Fund--the most identifiable mutual fund of the narrow, late-1990s bull market--to new investors, after seeing assets quadruple to $25.9 billion since late 1997. Janus Twenty, managed by Scott Schoelzel, will stop accepting money from new investors beginning Monday, the company said Friday. The fund, which makes investments in 20 to 30 stocks, will continue to accept cash from existing shareholders.
BUSINESS
February 8, 1995 | From Associated Press
Twentieth Century Cos. and Benham Management International Inc., two of the most prominent names in mutual funds, will merge in a deal that could be a harbinger of more consolidation in the industry. Both companies touted the merger, announced Tuesday, as a powerful melding of Twentieth Century's reputation for strong stock offerings and Benham's expertise in bond funds.
BUSINESS
October 27, 1994 | CHET CURRIER, ASSOCIATED PRESS
Although they advertise with images of lions, bulls and rams, there's a suspicion that mutual funds actually are members of the rabbit family. The inference arises naturally from the rate at which they have multiplied. At the beginning of the 1980s, there were just over 500 funds that belonged to the industry trade group, the Investment Company Institute. Today there are almost 5,000.
BUSINESS
August 10, 1992 | From Associated Press
A welcome trend for homeowners is giving investors in mortgage-backed securities a case of heartburn. Spurred by last month's drop in mortgage rates to the lowest levels in 19 years, Americans are rushing to refinance, taking out new low-interest home loans to prepay old mortgages. The savings can be substantial. By trading in a 30-year fixed-mortgage loan at 10% for an 8% one, the average homeowner saves $200 a month on a $100,000 loan, not counting extra refinancing costs.
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