Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Buffett-esque Fund to Reopen for the First Time in 26 Years Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, April 24, 2008

Buffett-esque Fund to Reopen for the First Time in 26 Years

by: Erin Kello

The folks at Ruane, Cunniff & Goldfarb are reopening the Sequoia Fund next month to new investors for the first time in 26 years. In the quarterly report for the fund, the New York City-based investment manager noted that "attrition has become an issue for the fund," as shareholders have aged. Assets fell 2.4 percent to $3.5 billion at the end of 2007.

Ruane, Cunniff also pointed to the market turmoil making stocks "reasonably valued."

The fund, founded in 1970, was run for many years by Warren Buffett pal William Ruane, who also shared the former's investment approach. Ruane passed away in 2006.

"It is not our intention to grow the size of the Fund rapidly. If we find we are not identifying enough good ways to invest our shareholders’ incremental capital contributions, we will advise the Board of Directors accordingly," Ruane Cunniff wrote.

The fund will reopen on May 1.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use