MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, August 17, 2007 WSJ, Bloomberg Zero In On REIT Funds Today's WSJ Fundtrack takes on the falling REITs and the mutual funds that invest in them. The deadly combo of property problems and the debt crunch have caused investors to withdrawal more than $400 million in the past two weeks, according to AMG data. The mutual fund the paper specifically mentions is the Munder Real Estate Equity Investment fund, down 25 percent this year. Bloomberg is also reporting about REIT woes. The wire service cites Morningstar data in reporting that the Fidelity Real Estate Investment Portfolio dropped 19.7 percent. Two other funds in hot water are the Franklin Real Estate Securities Fund and the Kensington Strategic Realty Fund, both of which dropped 20.3 percent. All of this of course is subject to change though as early Friday morning, the Fed opened the discount window, dropping the discount rate by 50 bps. Printed from: MFWire.com/story.asp?s=15437 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |