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 |
|
Wednesday, December 18, 2002 GE Will Shrink its Fund Lineup GE Asset Management is planning to liquidate five mutual funds. The funds are earmarked for a mid-February. They include three retail offerings (GE High Yield, GE Europe Equity and GE S&P 500 Index) and two institutional funds (Mid-Cap Growth and Emerging Markets), according to Dow Jones Newswire. The five closings will shrink GE's fund family to 13 retail funds and 17 institutional funds. Altogether, the five funds hold just $86 million in assets. The lack of interest in the funds is the reason for the liquidations, according to GE. GE has tried a number of strategies to distribute its advisor sold funds, including waving commissions on shares sold directly through the Web at one point. None of its efforts, though, have built the firm into one of the top three in the fund business as measured by assets under management. The closings will eliminate subadvisory mandates for Morgan Stanley, which subadvises the high yield fund and SSgA, which subadvises the index fund. Printed from: MFWire.com/story.asp?s=4199 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |