July 8, 1987 |
Dreyfus Strategic Aggressive Investing Fund was the most successful mutual fund in the second quarter, up 42.5% in a period when the Dow Jones industrial average rose less than 6%. Strategic Investing's edge was that it used options and stock-index futures to achieve a very large portion of its gains. And Howard Stein, chairman of Dreyfus Corp., the $33-billion (assets) parent company of Strategic Investment and more than two dozen other funds, thinks that's the start of a trend.
March 31, 2005 |
The Securities and Exchange Commission has narrowed its probe of Los Angeles-based American Funds to the question of whether the firm overpaid brokerages for trades as a reward for mutual fund sales, according to people familiar with the inquiry. The fund giant already is fighting two other regulatory agencies over charges of improper practices.
January 29, 1988 |
The Securities and Exchange Commission on Thursday approved two rules that are likely to make it far easier for investors to evaluate mutual fund fees and performance. In a long-awaited decision, the agency approved strict guidelines that will require advertisements for income and equity funds--if they choose to display performance figures at all--to disclose at least their annualized total returns over the most recent one-, five- and 10-year periods.
June 24, 1994 |
As competition in the mutual fund business grows increasingly intense, more players in the industry appear willing to sacrifice integrity in the name of performance. For a $2-trillion business built on public confidence, this trend is disheartening at best and downright dangerous at worst.
February 13, 1995 |
Sarah Rosen lost money in a bond mutual fund in 1994, and now she's suing to get it back. But unlike most of the suits that have been filed by disgruntled fund shareholders reeling from the worst bond market losses in this century, Rosen isn't alleging that a pushy broker sold her something she didn't understand.
November 23, 2003 |
Something good will come out of the mutual fund industry's current mess: More shareholders will start asking questions about fund practices that have nothing to do with abusive short-term trading but cost the average investor far more over time. Take, for example, the widespread imposition of so-called 12b-1 fees.