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 |
|
Thursday, May 4, 2000 May 4, 2000 Fidelity's sector funds overshadowing old stand-bys From The Boston Globe While Fidelity's focus continues to be on a few huge funds such as Magellan, Contra, and Growth & Income. But lately, investors' increasing need to chase the hot money has focused considerably more attention on its Sector Fund group. In the first three months of 2000, Fidelity investors have poured more than $4 billion into the company's select funds, especially Fidelity Select Technology and Fidelity Select Electronics. Third time's a charm? From CBS MarketWatch Elaine Garzarelli has one of the most recognizable names in the business and considerable fame from her early prediction of the stock market crash in 1987. But her two previous attempts as a fund manager have been less than stellar, with one fund from Shearson Lehman closing after a few years and another after a few months. While she currently manages five low-profile European funds, her management of Forward Funds' U.S. Equity Fund is "a full-time deal" for her and should be worth watching. Prudential leaning more towards growth From The Wall Street Journal The Journal reports that Principal's reorganization (MFWire.com 5/3) will include a shift in the company's investment style from value to growth, or at least middle-of-the road for now. Prudential's market share slipped last year as Prudential's 11% asset growth trailed the 23% industry average. In addition, Prudential's in-house funds account for a relatively low 25% to 30% of total fund sales at Prudential Securities, according to John Strangfeld, Prudential's head of asset management. Printed from: MFWire.com/story.asp?s=25699 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |