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Rating:The Dow Falls 3.68 Percent, and Fund Firms Fall Further Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 18, 2011

The Dow Falls 3.68 Percent, and Fund Firms Fall Further

Reported by Neil Anderson, Managing Editor

Today the Dow Jones Industrial Average fell 3.68 percent, the S&P 500 4.46 and the Nasdaq 5.22 percent, following big dips in European and Asian markets [see the Wall Street Journal]. The mutual fund business is largely dependent on asset-based fees, so how are fund firms weathering the market quake? We've compiled data on publicly-traded mutual fund firms, publicly-traded parents of mutual fund firms, and other firms related to the business (see chart below). All told, 41 of the 58 stocks on this list fell further than the S&P 500 today, and 8 of the remaining 17 were down at least three percent, too.

Only the stocks of a handful of smaller firms -- Hennessy Advisors, U.S. Global Investors, Value Line and W.P. Stewart -- managed to avoid falling today.

On the other side of the spectrum, five stocks on this list tumbled at least twice as far as the S&P 500 today -- Affiliated Managers Group, Credit Suisse, Invesco, TCW parent Societe Generale, and Ivy Funds parent Waddell & Reed.

MFWire.com also covered a similar market plunge earlier this month [see MFWire.com, 8/5/2011].

Publicly-Traded Fund Firms, B-Ds and Others
Ticker Company (Fund Firm/B-D) Share Price at 2:30 EDT, 8/18/2011 Percent Drop Today
AB AllianceBernstein Holding LP 14.45 0.49
AMG Affiliated Managers Group, Inc. 77.39 -9.59
AMP Ameriprise Financial, Inc. (Columbia) 40.91 -7.15
ART Artio Global Investors, Inc. 8.5 -4.28
AZSEY Allianz SE (Pimco) 10.17 -7.04
BAC Bank of America Corp (Merrill Lynch) 7.04 -5.63
BEN Franklin Resources, Inc. (Franklin Templeton) 109.91 -5.05
BK The Bank of New York Mellon Corporation (Dreyfus) 19.57 -5.87
BLK BlackRock, Inc. 152.28 -5.52
CNS Cohen & Steers, Inc. 34.46 -7.14
COWN Cowen Group, Inc. (Ramius) 3.23 -7.45
CS Credit Suisse Group AG 26.67 -9.04
DB Deutsche Bank AG (DWS) 39.9 -6.99
DHIL Diamond Hill Investment Group, Inc. 67.88 -4.31
DST DST Systems, Inc. 44.7 -6.05
ENV Envestnet, Inc. 11.48 -3.45
EV Eaton Vance Corp. 21.53 -6.59
FBRC FBR & Co. 2.46 -5.38
FII Federated Investors, Inc. 16.58 -4.00
FNGN Financial Engines, Inc. 18.67 -7.89
GBL Gamco Investors Inc. 41 -5.51
GE General Electric Company 15.34 -5.48
GROW U.S. Global Investors, Inc. 6.73 1.20
GS Goldman Sachs Group, Inc. 113.31 -3.36
HNNA Hennessy Advisors Inc. 3 0.00
IVZ Invesco Ltd. 16.22 -9.18
JEF Jefferies Group, Inc. 14.95 -8.84
JNS Janus Capital Group Inc. 6.07 -7.75
JPM JPMorgan Chase & Co. 35.19 -3.77
EPA:KN Natixis SA 2.9 -6.04
LAZ Lazard Ltd 27.29 -5.54
LM Legg Mason, Inc. 25.59 -5.26
LPLA LPL Investment Holdings Inc. 26.67 -1.44
MFC ManuLife Financial Corporation (John Hancock) 13.25 -6.56
MORN Morningstar, Inc. 54.02 -5.58
ASX:MQG Macquarie Group (Delaware) 25.32 -1.78
MS Morgan Stanley (Morgan Stanley Smith Barney) 16.2 -4.76
NTRS Northern Trust Corporation 35.35 -5.10
LON:OML Old Mutual plc 113.15 -1.69
PFG Principal Financial Group, Inc. 22.32 -6.18
TSE:PWF Power Financial Corporation (Putnam) 26.14 -3.26
RJF Raymond James Financial, Inc. 24.96 -7.59
SCGLY Societe Generale SA (TCW) 6.33 -10.47
SCHW The Charles Schwab Corporation 11.8 -5.98
LON:SDR Schroders plc 1424.57 -4.33
SEIC SEI Investments Company 16.13 -5.89
STT State Street Corporation 32.67 -6.15
TROW T. Rowe Price Group, Inc. 47.08 -7.65
UBS UBS AG 13.41 -8.34
BIT:UCG Unicredit Italiano (Pioneer) 0.956 -7.41
UMBF UMB Financial Corporation (Scout) 35.01 -5.40
VALU Value Line, Inc. 10.5 0.67
VRTS Virtus Investment Partners, Inc. 55.41 -8.43
WDR Waddell & Reed Financial, Inc. (Ivy) 28.14 -9.92
WFC Wells Fargo & Company 23.72 -4.66
WHG Westwood Holdings Group, Inc. 32.99 -5.12
WPSL W.P. Stewart & Co., Ltd. 6.4 0.00
WETF WisdomTree Investments, Inc. 7.75 -2.76
Source: Google Finance
 

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