MutualFundWire.com: The Dow Falls 3.68 Percent, and Fund Firms Fall Further
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MutualFundWire.com
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Thursday, August 18, 2011
The Dow Falls 3.68 Percent, and Fund Firms Fall Further
Today the Dow Jones Industrial Average fell 3.68 percent, the S&P 500 4.46 and the Nasdaq 5.22 percent, following big dips in European and Asian markets [see the Wall Street Journal]. The mutual fund business is largely dependent on asset-based fees, so how are fund firms weathering the market quake? We've compiled data on publicly-traded mutual fund firms, publicly-traded parents of mutual fund firms, and other firms related to the business (see chart below). All told, 41 of the 58 stocks on this list fell further than the S&P 500 today, and 8 of the remaining 17 were down at least three percent, too.
Only the stocks of a handful of smaller firms -- Hennessy Advisors, U.S. Global Investors, Value Line and W.P. Stewart -- managed to avoid falling today.
On the other side of the spectrum, five stocks on this list tumbled at least twice as far as the S&P 500 today -- Affiliated Managers Group, Credit Suisse, Invesco, TCW parent Societe Generale, and Ivy Funds parent Waddell & Reed.
MFWire.com also covered a similar market plunge earlier this month [see MFWire.com, 8/5/2011].
| Publicly-Traded Fund Firms, B-Ds and Others |
| Ticker | Company (Fund Firm/B-D) | Share Price at 2:30 EDT, 8/18/2011 | Percent Drop Today |
| AB | AllianceBernstein Holding LP | 14.45 | 0.49 |
| AMG | Affiliated Managers Group, Inc. | 77.39 | -9.59 |
| AMP | Ameriprise Financial, Inc. (Columbia) | 40.91 | -7.15 |
| ART | Artio Global Investors, Inc. | 8.5 | -4.28 |
| AZSEY | Allianz SE (Pimco) | 10.17 | -7.04 |
| BAC | Bank of America Corp (Merrill Lynch) | 7.04 | -5.63 |
| BEN | Franklin Resources, Inc. (Franklin Templeton) | 109.91 | -5.05 |
| BK | The Bank of New York Mellon Corporation (Dreyfus) | 19.57 | -5.87 |
| BLK | BlackRock, Inc. | 152.28 | -5.52 |
| CNS | Cohen & Steers, Inc. | 34.46 | -7.14 |
| COWN | Cowen Group, Inc. (Ramius) | 3.23 | -7.45 |
| CS | Credit Suisse Group AG | 26.67 | -9.04 |
| DB | Deutsche Bank AG (DWS) | 39.9 | -6.99 |
| DHIL | Diamond Hill Investment Group, Inc. | 67.88 | -4.31 |
| DST | DST Systems, Inc. | 44.7 | -6.05 |
| ENV | Envestnet, Inc. | 11.48 | -3.45 |
| EV | Eaton Vance Corp. | 21.53 | -6.59 |
| FBRC | FBR & Co. | 2.46 | -5.38 |
| FII | Federated Investors, Inc. | 16.58 | -4.00 |
| FNGN | Financial Engines, Inc. | 18.67 | -7.89 |
| GBL | Gamco Investors Inc. | 41 | -5.51 |
| GE | General Electric Company | 15.34 | -5.48 |
| GROW | U.S. Global Investors, Inc. | 6.73 | 1.20 |
| GS | Goldman Sachs Group, Inc. | 113.31 | -3.36 |
| HNNA | Hennessy Advisors Inc. | 3 | 0.00 |
| IVZ | Invesco Ltd. | 16.22 | -9.18 |
| JEF | Jefferies Group, Inc. | 14.95 | -8.84 |
| JNS | Janus Capital Group Inc. | 6.07 | -7.75 |
| JPM | JPMorgan Chase & Co. | 35.19 | -3.77 |
| EPA:KN | Natixis SA | 2.9 | -6.04 |
| LAZ | Lazard Ltd | 27.29 | -5.54 |
| LM | Legg Mason, Inc. | 25.59 | -5.26 |
| LPLA | LPL Investment Holdings Inc. | 26.67 | -1.44 |
| MFC | ManuLife Financial Corporation (John Hancock) | 13.25 | -6.56 |
| MORN | Morningstar, Inc. | 54.02 | -5.58 |
| ASX:MQG | Macquarie Group (Delaware) | 25.32 | -1.78 |
| MS | Morgan Stanley (Morgan Stanley Smith Barney) | 16.2 | -4.76 |
| NTRS | Northern Trust Corporation | 35.35 | -5.10 |
| LON:OML | Old Mutual plc | 113.15 | -1.69 |
| PFG | Principal Financial Group, Inc. | 22.32 | -6.18 |
| TSE:PWF | Power Financial Corporation (Putnam) | 26.14 | -3.26 |
| RJF | Raymond James Financial, Inc. | 24.96 | -7.59 |
| SCGLY | Societe Generale SA (TCW) | 6.33 | -10.47 |
| SCHW | The Charles Schwab Corporation | 11.8 | -5.98 |
| LON:SDR | Schroders plc | 1424.57 | -4.33 |
| SEIC | SEI Investments Company | 16.13 | -5.89 |
| STT | State Street Corporation | 32.67 | -6.15 |
| TROW | T. Rowe Price Group, Inc. | 47.08 | -7.65 |
| UBS | UBS AG | 13.41 | -8.34 |
| BIT:UCG | Unicredit Italiano (Pioneer) | 0.956 | -7.41 |
| UMBF | UMB Financial Corporation (Scout) | 35.01 | -5.40 |
| VALU | Value Line, Inc. | 10.5 | 0.67 |
| VRTS | Virtus Investment Partners, Inc. | 55.41 | -8.43 |
| WDR | Waddell & Reed Financial, Inc. (Ivy) | 28.14 | -9.92 |
| WFC | Wells Fargo & Company | 23.72 | -4.66 |
| WHG | Westwood Holdings Group, Inc. | 32.99 | -5.12 |
| WPSL | W.P. Stewart & Co., Ltd. | 6.4 | 0.00 |
| WETF | WisdomTree Investments, Inc. | 7.75 | -2.76 |
| Source: Google Finance |
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Printed from: MFWire.com/story.asp?s=37613
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