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Investing March 28, 2001
Value Back in Vogue
March 28, 2001 (PLANSPONSOR.com) - "Value funds are
back in vogue," according to Financial Research Corp., which
noted a $7.2 billion investment in those funds in
February.
Reported by Nevin E. Adams
Value funds have attracted nearly $13 billion this year,
a dramatic turnaround from the prior two years.
Meanwhile, last year’s growth manager titan Janus suffered
$1.8 billion in redemptions during the month, the largest
among the top 25 fund firms. That dropped the fund
family to the #6 US mutual fund group behind Franklin
Resources. Roughly a third of Franklin’s $157.53
billion in assets is invested in fixed income.
PIMCO, Vanguard Tops
Vanguard’s $2.68 billion in net inflows made it the best selling fund family, during the month according to FRC, while Pimco’s Total Return Fund netted nearly $1.1 billion, making it the month’s top-selling fund. Vanguard’s Total Stock Index fund was the top-selling equity fund, attracting $641 million.
Ten of the top 25 firms had net redemptions in February, according to FRC.
Overall U.S. stock funds took in an estimated $674 million last month, down from $21 billion in January according to FRC. Money market funds drew $49 billion.