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Rating:WSJ Documents the Decline in Fund Firm Earnings Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 27, 2008

WSJ Documents the Decline in Fund Firm Earnings

by: Neil Anderson, Managing Editor

Earnings and stock prices for various mutual fund managers are taking some hits. In Monday's "Fund Track" column, the Wall Street Journal's Diya Dullapalli notes declines in earnings at Janus and T. Rowe Price (see MFWire, October 24, 2008 for more on fund firms' earnings), while adding that layoffs revealed last week at AllianceBernstein and Janus were forced by "dire results" (see MFWire, October 23, 2008). And analyst Roger Smith of Fox-Pitt Kelton Cochran Coronia Waller confirmed that his firm has downgraded several asset managers, including AllianceBernstein, AMG, BlackRock and T. Rowe.

In fact, the only fund firm to earn praise in the column is Pimco, which shouldn't come as a surprise to industry insiders. 

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