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Rating:Financial Services Fund Managers Change Course to Avoid Credit Pitfalls Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 10, 2007

Financial Services Fund Managers Change Course to Avoid Credit Pitfalls

News summary by MFWire's editors

In today's WSJ Fund Track column, Jed Horowitz spoke to fund manager Peter Kovalski about how managers of mutual funds that deal in financial services stocks are coping with the credit crunch. Kovalski, manager of Alpine Management's Dynamic Financial Services Fund, told Horowitz that managers of these funds can no longer rely on the old buy-and-hold strategy saying, "You can't be married to the stocks you like, and you have to be nimble with trading. You can come in any morning and find your best holding is down a significant amount because of a credit charge-off or something like that."  

Edited by: Erin Kello


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