MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 3, 1999 Odd Lots, Aug. 3, 1999 Gold loses its luster From The Wall Street Journal Mutual-fund manager Jean-Marie Eveillard says if gold prices keep falling he may reconsider whether to keep the SoGen Gold Fund he manages going. The fund has assets of $15.8 million, down from $70 million at its high three years ago. Last December, Mr. Eveillard contemplated liquidating the fund and giving shareholders their money back. By then, the prolonged slump in gold prices had stretched for over two years and was killing any hope for returns. SoGen Gold fell 18.44% in 1998, after having dropped 29.79% the year before, according to fund-tracker Morningstar Inc. With gold prices hovering near 20-year lows and central banks all over the world eager to unload their gold reserves, Eveillard wonders if he made the right decision. Small-cap manager beats large-caps From The New York Post A small-cap fund manager is expected to beat the Russell 200 index of smaller stocks. But for a small-cap fund manager to trounce the S&P 500 index several years running - when large-cap stocks have been mostly beating their smaller brethren - is entirely another story. But that is exactly what's happening with the Friedman Billings Ramsey Small Cap Value fund. Under portfolio manager Chuck Akre's leadership, the no-load fund has turned in a year-to-date return of 13.71%, better than the S&P's 8.04% gain and the Russell 2000's 4.9% gain. That's not the first time he's gotten such results. In 1997, the fund gained 44.3%, compared to the S&P's total gain of 33.4% and the Russell's 21.7% increase. Goldman goes Internet From TheStreet.com Fidelity and Vanguard won't even consider it. But the navy blue, button-down Wall Street investment firm Goldman Sachs is putting its name behind an Internet mutual fund. The Goldman Sachs Internet Tollkeeper fund plans to invest in companies that will profit by increased Internet activity. Goldman, however, seems less likely to put its name or assets behind pure Internet start-ups like priceline.com and drkoop.com, and more inclined to invest in companies like Cisco or Dell. Goldman's venture into the space could lend a certain credibility to a sector that major fund companies have scorned. Printed from: MFWire.com/story.asp?s=24423 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |