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 |
|
Thursday, November 1, 2001 Stilwell Assets Bounce Back Assets at closely watched Stilwell Financial climbed in the most recent month as the major stock indexes gained back a portion of their losses. Meanwhile, assets at Alliance Capital declined for the third quarter. Stilwell, the parent to both Janus Capital and Berger Funds, reported that assets under management rose by $8 billion or 4.7 percent to $178 billion on October 31 from $170 billion on September 30. Average assets at the firm during the month were $180 billion, a steep decline from the average of $198 billion in September. Much of the change in assets at Stilwell appears to be due to asset appreciation. Meanwhile, assets under management at Alliance Capital Management fell 9 percent to $421 million from June 30 to September 30. Mutual fund assets account for $163 billion of the total. Bruce W. Calvert, chairman and chief executive officer of Alliance Capital, explained that he decline was the result of more than $50 billion in asset depreciation. Alliance's retail fund business showed net sales of $1.5 billion, a fall from $7.6 billion in the second quarter. During the same period, sales of the firm's wrap product turned negative. Retail investors pulled $2.1 billion from wrap products at Alliance, compared to $0.1 billion in net sales the quarter prior. Printed from: MFWire.com/story.asp?s=27066 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |