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

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

Rating:Pimco, Third Avenue Moves Attract WSJ Attention Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, November 20, 2008

Pimco, Third Avenue Moves Attract WSJ Attention

by: Armie Margaret Lee

Changes in two funds' holdings caught the eye of The Wall Street Journal, which made room for the moves in its Thursday Fund Track column. The $5.4 billion Third Avenue Value Fund, the fourth biggest mutual-fund holder of Legg Mason until this summer, sold all of its 2.5 million shares of the Baltimore-based asset manager. The decision to sell the Legg shares and other stocks, according to portfolio manager Martin Whitman, was made to raise cash for redemptions.

Meanwhile, Pimco pared its holdings of short-dated TIPS over the past couple of weeks as it anticipates the decline in consumer prices will move at a faster clip in the next months. Portfolio manger Mihir Worah said the $12.3 billion Real Return Fund sold a "fair amount" of one-year to two-year TIPS.

The Fund Track column also covered the Wednesday's unanimous vote by the SEC to require fund firms to provide investors with summary prospectuses (see The MFWire, November 19, 2008) and the news coming out of the Reserve that ex-Merrill Lynch executive Joseph Monagle will dispense advice to the firm as it liquidates some of its portfolios (see The MFWire, November 19, 2008). 

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

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use