Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An SRI Fund Pulls The Plug On its Manager Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, November 04, 2002

An SRI Fund Pulls The Plug On its Manager

by: Sean Hanna, Editor in Chief

After more than six years, Meyers Capital Management has lost its advisory duties to the $15 million Citizens Value Fund. Citizens will bring the portfolio in-house and hand it to Citizens Advisors.

"Our goal is to improve the overall performance of the Citizens Value Fund," stated Sophia Collier, chair of Citizens Advisers. "I'm confident that our extensive management experience in socially responsible investments - gained over almost twenty years - will serve the Citizens Value Fund and its investors well." A spokesperson was not available for comment by press time.

The move comes after a spell of woeful relative performance by Shelly J. Meyers, the portfolio manager since the fund's inception in June of 1996. Meyers started the money management shop after leaving the Boston Company in 1995. So far this year, the fund is down 40.8 percent, according to Morningstar, it also lags its peers by 24.6 percent and ranks at the bottom of its investment category.

Citizens said it will use its full equity investment management team to manage the portfolio and that the team will continue to look for companies whose stock prices are below their intrinsic value.

"We believe our 'quality value' approach has the potential to lower the downside risk of the portfolio, while providing an improved opportunity for positive returns - characteristics investors expect from value portfolios," said Collier.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use