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 |
|
Thursday, November 30, 2000 November 30, 2000 SEC Officials Look Into Dressing and Pumping From Los Angeles Times The Securities and Exchange Commission is probing into whether funds illegally try to inflate returns at quarter end and whether they conduct "window dressing," the paper reports. The article quotes Gene Gohlke, associate director of the Securities and Exchange Commission's Office of Compliance, Inspections and Examinations, as saying that the SEC has requested trading records from some mutual fund companies as part of a three to five month old investigation into "portfolio pumping" and "window dressing." Cash Flows Weaken From Wall Street Journal The flow of cash into stock mutual funds is showing more signs of weakening even before the Nasdaq saw its worst month since October 1987 in November. October's net flows to stock funds were $19.07 billion according to Investment Company Institute data. This is more than the $17.33 billion in September flows but well short of the $26.1 billion of flows into money market funds in October. The report also claims that Vanguard, AIM Management and T. Rowe Price, say sales of stock funds have slowed in November. As Investors Tap the Brakes From Investor's Business Daily More news that investors "tapped the brakes" on fund buying in November is reported by the paper. It also reports that Fidelity claims strong inflow to its stock funds in November compared. At Vanguard net inflows were $1.3 billion, down from $2 billion in October. Strong Funds also reports inflows dropping to $137 million in November from $261 million in October. A T. Rowe Price spokesman said his firm's sales were not as strong as October. Printed from: MFWire.com/story.asp?s=26250 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |