MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 15, 2008 More Fannie and Freddie Bets Draw Headlines It is not just Legg Mason's Bill Miller who got caught short holding Fannie Mae and Freddie Mac paper last week. The WSJ Fund Track goes hunting for more victims of last week's meltdown and finds some, including Fidelity. Daisy Maxey takes her turn as the column's author and reports that of the ten funds with the largest holding of Freddie and Fannie paper, Fidelity Select Home Finance was hit hardest with a nearly 24 percent allocation to the two stocks, according to Morningstar data. The fund has lost 62 percent over the trailing twelve months. Other funds hit hard by the GSE crisis were: Touchstone Large Cap Value Fund (down 57.6 percent), Morgan Stanley Financial Services (down 48.8 percent). Other managers making large bets on the stocks were: David Dreman of DWS Dreman Concentrated Value, Richard Pzena of John Hancock Classic Value, and John Thompson of Thompson Plumb Growth. Printed from: MFWire.com/story.asp?s=18810 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |