The longest weather-related U.S. trading suspension in 124 years has left money managers with one day instead of three to adjust their holdings before the fiscal year ends for more than 20 percent of them.
The closure of American exchanges during Hurricane Sandy occurred during the last week of the fiscal year for 1,521 U.S. mutual funds, according to data compiled by Morningstar Inc. With two days lost, demand from managers who want to buy and sell shares for tax and performance reasons may surge today, said Donald Selkin of New York-based National Securities Corp.
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