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Rating:Are Spend-Happy Equity Funds Slowing Down the Rally? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 9, 2010

Are Spend-Happy Equity Funds Slowing Down the Rally?

News summary by MFWire's editors

Equity mutual funds haven't burned through cash this fast since 1991, according to a report published yesterday by Bloomberg/. Cash reserves dropped from 5.7 percent of assets in January 2009 to 3.6 percent today, leaving funds with the smallest reserves since 2007.

As a result, some worry that gains for the S&P 500 may slow.

Bloomberg spoke with several investment executives to gauge their views on the potential trend, including Parnassus president Jerome Dodson, Janney Montgomery chief investment strategist Mark Luschini, Security Global Investors' Mark Bronzo, and BNY Mellon Wealth Management CIO Leo Grohowski.

Bloomberg also analyzed the results of research done by Birinyi Associates Inc., as well as Bloomberg's original research. 

Edited by: Stephanie Bernhard

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