Despite strong overall market performance in 2009, Chuck Jaffe
still has a few bones to pick with mutual fund managers this year. On Sunday the MarketWatch
his 14th annual "Lump of Coal Awards" to call out "naughty behavior in the fund world in 2009."
Jaffe attacks both American Century
and TCW Group
for portfolio manager changes (Am Century for replacing top performing international bond fund managers at JPMorgan
with Lehman alums John Levito
and Federico Zamora
, and TCW for firing star manager and chief investment officer Jeffrey Gundlach
after buying rival Metropolitan West Asset Management
lands in the spotlight over delays in issuing adequate shares for its DB US Dollar Bullish
ETF, while the AMIDEX Cancer Innovation & Healthcare
fund charges 500 basis points and yet put half of its assets into a money market fund.
Neil Anderson, Managing Editor
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