Invesco Load Funds Ready For Next Month
From Financial Times
The paper picks up on Invesco's decision to sell its funds through brokers. The unit of Amvescap will launch a new group of broker-sold funds next month, it reports. John Schroer, head of research at the firm is quoted as saying that: "Historically, we go direct. That's on the surface. Our objective is that clients don't have all the same needs, and we're trying to serve all of our clients." Interestingly, the article fails to cover the possible conflict that Invesco has with sister-company AIM. That firm, of course, specializes in broker-sold funds.
Bent Frets Over Money Fund Quality
From Wall Street Journal
Bruce Bent, the father of the money market fund and head of Reserve Funds, is worried that investors in these funds are not getting what they think they are getting. Bent is reportedly worried over the sinking credit quality of the assets held money funds. Specifically he is worried by the asset-backed commercial paper many funds are using to boost their yield by an extra 50 basis points or so.
Net Fund's Woes
From Wall Street Journal
Can one-time "Boy Wonder" (but now "Boy Blunder") Ryan Jacobs turn around his Internet fund. The paper hits its coverage of the recent plight of Net funds, including the name change last week of the Monument Internet Fund and the shutdown of the de Leon Internet 100 Fund. The paper reports that Jacob Asset Management and his old employer, Kinetics, are each trying to diversify their business. Still, both funds are suffering redemptions, Kinetics has seen 20% of its assets pulled and Jacob 7 percent.
One Banks Success
From Wall Street Journal
Are bank funds better than their reputation? The weekly picks Northern Trust as one of the banks with better-than-average funds. The article profiles Bob Streed, portfolio manager of the Northern Select Equity fund.
Still More on ETFs
From Dallas Morning News
Exchange-traded funds are becoming popular with investors, says the paper that includes analysis from all of the usual suspects. Otherwise, it adds little to the existing coverage of ETFs.
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