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Rating:Fire Sale is Not in the Cards for a Fund Firm's Parent, Says Analyst Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 07, 2010

Fire Sale is Not in the Cards for a Fund Firm's Parent, Says Analyst

News summary by MFWire's editors

A mutual fund firm's parent company was in the news yesterday because of an analyst report. The Street.com picked up on a report by Evercore Parters analyst Andrew Marquardt, who does not see a fire sale in Marshall & Ilsley's future.

The Milwaukee-headquartered bank is the parent of M&I Investment Management Corp., which runs the Marshall line of mutual funds.

In his report on Monday, Marquardt wrote that there was "growing investor concern that Marshall & Ilsley may indeed be the next Wilmington Trust, implying a distressed sale at a deep discount."

Marquardt, however, does not see such a scenario playing out, noting that Marshall & Ilsley is taking steps to fix credit problems through write-downs and asset sales. 

Edited by: Armie Margaret Lee


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