Only two publicly traded mutual fund firms drew positive net flows in May into their equity and hybrid products: those firms were Federated Investors
and T. Rowe Price
. That's one of the tidbits included
yesterday by FBR
's Bill Jackson and Matt Snowling in a Barron's Investor's Sopabox
column on "The Best-Positioned Asset Managers."
Jackson and Snowling upped their outlooks for both Federated and T. Rowe, from underperform to market perform and from market perform to outperform, respectively. At the same time, thanks to a painful May ($18 billion in net ouflows from equity and hybrid funds drove $9.6 billion in overall net outflows), Jackson and Snowling have reduced their second quarter earnings-per-share estimates by 10 percent.
They also comment on Franklin Resources
, Janus Capital Group
, Legg Mason
and Waddell & Reed Financial
Neil Anderson, Managing Editor
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