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

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

Rating:SAM Looks Out for the Little Guy Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 14, 2004

SAM Looks Out for the Little Guy

by: Theresa Sim

Southeastern Asset Management is closing the Longleaf Partners Fund to new investors on Friday due to insufficient investment prospects, the company announced last week. The Longleaf Fund had $8.5 billion in assets at the end of June.

Mason Hawkins, co-portfolio manager of the fund, noted that Southeastern's employees are one of the largest shareholder groups in the fund.

The Memphis, Tennessee-based advisor to the fund, is "having difficulty" finding companies to invest in that meet the fund's criteria. Because of that difficulty, cash had grown to 29 percent of assets in the fund; the fund's portfolio contained 19 stocks at the end of June.

"We are unwilling to commit capital to marginally attractive investments because the risks are higher and the prospective returns are lower. We believe that our patience and discipline today will pay off handsomely over the next five years," said Hawkins.

"We will wait patiently for terrific opportunities," said Hawkins.

Southeastern Asset Management manages $28 billion in assets; $13 billion for three Longleaf funds. 

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use