MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 28, 1999 Odd Lots, September 28, 1999 The Big Three widen their lead From The Wall Street Journal Vanguard, Janus and Fidelity keep raking in the inflows, far outdistancing the rest of the fund world in assets gathered in 1999. Vanguard leads the pack a net $38.6 billion from Jan. 1 through the end of August. Following is Janus with $21.9 billion in new investor assets so far this year. And a few steps behind is the Boston Behemoth which gathered $13.6 billion into its Fidelity no-load funds. Rounding out the top-10 list in the cash grab are Pimco Advisors; Alliance Funds; MFS Investment Management; Vantagepoint Investment Advisors; American Funds; Fidelity's load mutual funds, and SEI Corp., said Financial Research Corp. Actively managed = marketing scam for suckers? From Fortune Magazine So said John Reckenthaler, Morningstar's omnipresent head of marketing. Fortune's David Whitford seems to agree in his article "Where Have All the Geniuses Gone?," -- yet another reporter citing the returns of the market over the last several years besting the vast majority of actively managed funds. He certainly has a point -- a small number of fund firms are gathering all the assets, many funds with solid performance are still experiencing outflows and day-traders and market-timers are throwing curves to many other hot funds. What's the answer? -- index funds, in Whitford's opinion. Hard to argue with this strategy in a bull market, or even in a bearish market. But people still like to pretend that their smarter than the average bear, they still like to gamble, and the growing body of behavior finance studies shows that investors are less than rational in their investment decisions. Fidelity steps up online investors courtship From The Boston Herald Have you seen the ads for Fidelity's new "Powerstreet" campaign? The one where a Power Street sign is placed atop a street sign for Wall Street? Fidelity revealed the details of its new product which essentially is a renaming of its online brokerage business and an alliance with Lycos to make a cushier home for the active trader, complete with customized webpages, weather reports, and sports news. The bells and whistles are intended to grow Fidelity's brand name beyond the mutual fund and trust business into a name more significantly associated with trading and investing. Printed from: MFWire.com/story.asp?s=24618 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |