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Rating:Goldman Tells You to 'Sell' This Fund Firm Not Rated 1.0 Email Routing List Email & Route  Print Print
Thursday, October 06, 2011

Goldman Tells You to 'Sell' This Fund Firm

News summary by MFWire's editors

Fundsters who follow Ivy Funds [see profile] and parent Waddell & Reed [see profile] may want to look at the latest updates from Goldman Sachs' analysts. StreetInsider.com reports that the investment bank just downgraded the Midwestern brokerage and mutual fund firm from neutral to sell and lowered its price target from $34 to $21. (Waddell's shares closed at $25.26 yesterday.)

Why did Goldman smite Waddell? According to StreetInsider.com, Goldman is particularly worried about troubles at Ivy's flagship $23.0-billion, three-star Asset Strategy Fund (WASCX), which is down 13.86 percent year-to-date. 

Edited by: Neil Anderson, Managing Editor


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