A new mindset seems to be taking over at the leading fund companies: encouraging investors to make responsible investments, rather than chasing their assets by pushing imprudent investments, The Wall Street Journal reports.
Unlike the long-held tradition of promoting the latest-and-greatest fund, mutual fund companies appear to be launching less highflying funds and not promoting them aggressively.
"So many one-hit wonders came and went," said John Leuthold, vice president of retail marketing at Janus Capital Group, which itself was faulted for focusing too heavily on growth funds during the bull market--and which suffered with huge redemptions as a result. The focus now, Leuthold said, is on developing long-term relationships.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.