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Rating:<i>NY Times</i> Focuses on Turnover Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, January 09, 2012

NY Times Focuses on Turnover

News summary by MFWire's editors

Trading activity within mutual funds is about to be a trending topic. The issue of whether rapid trading adds returns or just runs up costs and shareholder tax bills is the focus of a New York Times article this Monday morning.

The article turns to Morningstar mutual fund analysis director Karen Dolan who says that "Some of the more successful funds tend to have lower turnover" and that "It's very difficult to have a successful high-turnover strategy."

Interestingly, all three of the PMs interviewed in the article are buy-and-hold type investors.

Funds gaining mention in the article include Dreyfus Worldwide Growth, PMed by Gentry Lee, who is anything but a quick trader as the mutual fund usually holds on to stocks for seven to 10 years.

Lee said "that volatility, which might lead you to emotional decisions, is not something that distracts us," so they hold stocks for a minimum of five years.

Also quoted is Aram Green, one of four PMs of Legg Mason ClearBridge Mid Cap Growth. Green said that "the volatility provides an opportunity to enter stocks that the market may have unduly punished."

Stephen Shipman, PM of Quaker Small-Cap Growth Tactical Allocation also makes the paper.  

Edited by: HFD


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