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Wednesday, April 25, 2007|
Fund Firms' Returns Nothing To Sneeze At
While everybody's talking about the big money pulled in by hedgehogs thanks to II's Alpha Magazine list, fund firms have quietly been making money, too. The Wall Street Journal reports Wednesday that net asset in stock and bond mutual funds increased 20 percent to $154 billion in the first three months of the year. This despite operating in a volatile market. Also, the Dow Jones Wilshire U.S. Asset Managers Index, which follows stock prices of companies including T. Rowe Price, Janus Capital and Franklin Resources, jumped by almost 10 percent this year.
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