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BUSINESS
April 10, 1998 | From Bloomberg News
Long-term U.S. mutual funds attracted a record net $37.5 billion in March as investors pumped money into retirement accounts. An estimated net $27.5 billion went into stock funds, up from $24.2 billion in February, the Investment Company Institute said Thursday. An estimated net $7.5 billion was added to bond funds, versus $6.3 billion in February. So-called hybrid funds attracted $2.5 billion in March, ICI said. The total beat the $32.
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BUSINESS
March 30, 2004 | From Bloomberg News
Idealab Inc. investors can refile a claim seeking to dissolve the Internet incubator that created defunct retailer EToys Inc. and other companies, a California appeals court said Monday. The California Court of Appeal in Los Angeles issued its opinion at the request of the trial judge, who wanted a question of law clarified. The judge last year dismissed most of the investors' claims that Pasadena-based Idealab's directors used funds for their personal gain.
BUSINESS
June 28, 2003 | E. Scott Reckard, Times Staff Writer
A state judge Friday gutted a fraud lawsuit filed by investors who had hoped to dissolve Idealab Inc., a Pasadena firm set up to spawn Internet companies. The investors, who had poured more than $700 million into Idealab during the Internet craze, accused founder Bill Gross of mismanagement and plundering corporate assets to finance a lavish lifestyle. They had sought to shut down the company so they could lay claim to its liquid assets, estimated earlier this year at $350 million.
BUSINESS
June 30, 1998 | From Bloomberg News
After slowing in May as the stock market turned dicey, cash flows into U.S. stock funds have rebounded in June as blue-chip stocks have hit new highs, many fund companies say. Bond funds also continue to gain in popularity with investors, as some look to diversify stock-heavy portfolios, experts say. An estimated $21.1 billion in net new cash has gone into stock funds this month, up from $18.7 billion in May, according to Trim Tabs Financial Services, which tracks flows.
BUSINESS
March 27, 1995 | DAVID CONN, BALTIMORE SUN
Investment firms, financial planners and business journalists have been drumming a message into Americans' heads for years: Your employer and the government will probably not sustain you through retirement; you must save and invest on your own. Baby boomers, who now see retirement on the horizon, appear to have gotten the message. So much so that many have reached the limits of their tax-deferred IRAs and 401(k) plans.
BUSINESS
April 26, 1996 | From Bloomberg Business News
Fidelity Investments, the nation's No. 1 fund group, saw stock fund sales plunge an estimated 25% in April over March even as sales of U.S. stock mutual funds continued to boom along at near-record rates at other firms. The April growth in sales at most mutual fund groups was bolstered by the underlying strength of the retirement market, the companies said. Fidelity said equity fund sales were an estimated $2.3 billion in April, down from $3.1 billion in March.
BUSINESS
October 6, 1996 | From Bloomberg Business News
Mutual fund company chief executives are earning more as the industry keeps getting bigger. Fund company CEOs will earn an estimated average of $1.02 million in total compensation in 1996, up 6% from $964,200 in 1995, according to a survey of 50 companies by Buck Consultants Inc. in Stamford, Conn. That's an average for the biggest mutual fund companies in the U.S., said Paul Gavejian, a compensation consultant at Buck Consultants.
BUSINESS
October 10, 1996 | From Bloomberg Business News
For the second straight month, individual investors pumped money into U.S. stock funds at an unrelenting rate, helping fuel the rise in the Dow Jones industrial average to near the 6,000 mark. An estimated $16 billion was invested in equity funds in September, according to the Investment Company Institute, an industry trade group. Fund companies said the pace of new buying so far in October remains at equally high levels.
BUSINESS
April 14, 2000 | Bloomberg News
Defense contractors are starting to command attention, as investors are betting that a period of dwindling profit and slumping share prices may be drawing to a close. Shares of Lockheed Martin Corp. (ticker symbol: LMT), the world's largest defense company, have risen 28% in the last month, while General Dynamics Corp. (GD) has climbed 35% and Northrop Grumman Corp. (NOC) is up 28%. Lockheed and Raytheon Co.'
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.
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