Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:April 19, 2000 Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, April 19, 2000

April 19, 2000

Reported by Paul Braverman

Lindner shake-up
From Morningstar
Lindner Funds is shaking up its management structure... again. President and chief investment officer Eric Ryback is giving up his portfolio management responsibilities, CEO Doug Valassis has been removed from the investment committee, and the firm is dropping its investment committee approach. Mark Finn will be the new CIO, and he and a co-manager will head each of the firm's six funds. The new co-managers are Gerald Barnes and Jeff Fotta on Asset Allocation; Jonathan Finn on Large-Cap Fund, Opportunity, and Small-Cap; Barnes and Thomas Lynch on Utility; and Fotta and Lynch on Market Neutral.

Where are the bears?
From The Wall Street Journal
Recently, and predictably, the performance of bear funds has been soaring. UltraShort OTC ProFund, for instance, is up 46% since March 10 and the Prudent Bear fund is up 23% in the same period, according to Lipper. But these funds aren't receiving a flood of new investment. Two possible reasons are, first, that bear funds tend to attract new assets when the stock market declines in a gradual way over a long period rather than a short, steep decline. Second, investors have gotten into the habit of buying a dip, rather than seeing it as a long-term trend.

Good news...
From The New York Times
Mid-Atlantic regional bank Mellon Financial, which owns the Dreyfus fund family, reported that its first-quarter operating profits rose 10 percent, thanks to trust and money management fees. Trust and mutual fund sales have become an important source of fee income for Mellon, as customers move towards high-yielding securities and funds instead of traditional savings accounts.

...and better
From The New York Times
PaineWebber reported the best quarterly profit in its 120-year history, powered by record brokerage commissions and management fees. Share volumes on U.S. stock exchanges set records in the quarter and powered brokerage commissions. Revenues from money management rose 35% from a year ago. Assets under active management rose to $73 billion, up from $63 billion a year ago. PaineWebber is joining a big party. On Monday, Merrill Lynch reported record results for the first quarter, driven by record brokerage commissions. Many of Wall Street's premier investment banks, including Goldman Sachs, last month reported record earnings for their fiscal first quarter.

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use