Are mutual fund stocks a safe harbor where investors can ride out the subprime storm? Strong cash flow, high margins and a dash of merger activity suggest that they may just be, according to the Monday Wall Street Journal Fund Track column
. The paper reports that Citigroup recommends shares of BlackRock
and Legg Mason
and that the Dow Jones Wilshire U.S. Asset Managers Index is up 7.8 percent this year. Janus Capital
is up 62 percent, Franklin Resources Inc.
up 31 percent and AllianceBernstein Holding LP
is 26 percent higher.
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