At first, mutual fund managers said they didn’t think the subprime loan disaster would affect them. But now, real estate funds, even though many of them are concentrated on commercial investments, are feeling the heat, The Wall Street Journal reports. In addition, so are funds with large exposure to homebuilder companies or regional banks that had been making the loans. What’s impacting these funds—particularly real estate funds—is the concern of investors that defaults on risky mortgages will spread from residential investments to commercial. In addition, because real estate funds have had such a tremendous run-up in recent years, some believe their day in the sun is reaching an end. In the past month, real estate funds have declined an average of 4.7%. But because they were the best-performing category in 2006, they are still up 5.16% year to date and 25.5% for the 12 months ended March 21. “There’s been a lot of talk on the backburner [about] when is real estate going to cool,” said Andrew Gogerty, a
-
The CFP Board promised to enhance its review processes after an investigation found major shortcomings. A new analysis of CFP data found that the problem has only gotten worse.
2h ago -
Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
July 16 -
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
July 16 -
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
July 16 -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
July 16 -
The accusations led to the end of 16 years at the firm.
July 15