As 2007 draws to a close, the MFWire
is taking a look back at the most-read stories of the year.
The undisputed star of 2007 was mergers and acquisitions, with eight of the top ten stores focusing on this theme.
A total of three articles on the sale of Rydex Investments
cracked the list, with a retrospective on the deal occupying the top spot. Two and a half months before Rydex's sale to Security Benefit
was announced, The MFWire
broke the news in early April that the Rockville, Maryland-based fund firm was on the block in the story "Ryding to Auction?" (No. 10 on the list) and in a follow-up story a week later, Rydex' Sale: Will the Best Man Win?" (No. 4 on the list), The MFWire
named Topeka, Kansas-headquartered Security Benefit as one of the bidders.
Other stories that riveted readers include: Nuveen Investments
being taken private by a group led by Madison Dearborn Partners
sale to Citigroup
, asset management investment banker Putnam Lovell's
sale to Jefferies & Company
and a profile of J.C. Flowers
, the purchaser of Bisys' retirement services division.
Of course, there wouldn't be a top ten list in the fund world that didn't include Fidelity
Coming in at No. 3 for the year is a story that followed the departure of Bob Reynolds
. At the time insiders speculated that the culture of the company was in for a big change after Ellyn McColgan
took over the reins from Reynolds. Those predictions didn't have much time to get off the ground, as McColgan, too, departed Fidelity only a few months later in August (She is set to make her debut at Morgan Stanley's Broadway headquarters as head of the firm's global wealth management business next spring).
Fidelity was still on readers minds in late August when the No. 6 story, "Is Fidelity Entering a New Era?", was published. The retrospective laid out all the personnel changes made at Fidelity this year and gave tantalizing hints at what Ned might have in store for the future.
All in all, 2007 was an exciting year for the mutual fund industry, and 2008 looks to be just as exciting. Ned still has not chosen a successor, the Rydex deal has not yet closed amid voting issues and there are sure to more fund firms going on the block in the next year. So stay tuned to The MFWire
so you can know the news before it happens.
1. UPDATE 5 | The Rydex Sale: Anatomy of a Story
Thursday, June 28, 2007
2. UPDATE 3 | Nuveen Sells
Wednesday, June 20, 2007
3. UPDATE 1 What Changes Are in Store at Fido?
Thursday, April 19, 2007
4. Rydex' Sale: Will the Best Man Win?
Monday, April 09, 2007
5. Citi Scoops Up Bisys Group -- Update 5
Wednesday, May 02, 2007
6. Is Fidelity Entering a New Era?
Tuesday, August 21, 2007
7 .One I-Banker Does Another
Thursday, June 21, 2007
8. Bisys Group Sale Reportedly is "Snagged"
Wednesday, April 25, 2007
9. Who is J.C. Flowers?
Wednesday, May 02, 2007
10. Ryding to Auction?
Monday, April 02, 2007
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