an Wagoner leads the charts for first quarter performance. The fund company claimed five of the top 20 slots for the quarter, according to data published by Individual Investor
. Surprise, surprise! Three of the top funds were Internet funds, another three are technology funds. Japan was also hot.
ash flows into mutual funds have dropped precipitously over the past twelve months, according to the Wall Street Journal
. The paper quotes an analyst from Leuthold/Weeden Research as calculating that the 12-month total net inflow into funds dropped to $132 billion from $217 billion. The important question is what lays behind the drop? One answer, according to the WSJ -- more individuals are buying stocks directly through low-cost brokerage accounts.
Funds are also under attack from Sector SPDRs
, according to a second article in today's WSJ
. These new securities debuted in December and already have $1.1 billion in assets. They are approving especially popular with financial advisors who want to make sector bets or hedge portfolios, says the paper.
t seems that no one is passing up the chance to comment on the comeback of the Japanese market. Marla Brill in the Boston Globe
uses Montgomery International Growth as an example of a fund benefiting from the turn around in the land of the rising sun.
Yes, it is cold here in New York City, but spring really is here. Yesterday the Denver Rockies defeated the San Diego Padres 8-2 in Monterrey, Mexico. Read all about opening day in the hometown papers the San Diego Union
for the Padres' view, or the Denver Post
for the Rockies' side.
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