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Rating:American Century, TCW and Two Niche Funds Land on Jaffe's Naughty List Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 14, 2009

American Century, TCW and Two Niche Funds Land on Jaffe's Naughty List

News summary by MFWire's editors

Despite strong overall market performance in 2009, Chuck Jaffe still has a few bones to pick with mutual fund managers this year. On Sunday the MarketWatch columnist unveiled his 14th annual "Lump of Coal Awards" to call out "naughty behavior in the fund world in 2009."

Jaffe attacks both American Century and TCW Group for portfolio manager changes (Am Century for replacing top performing international bond fund managers at JPMorgan with Lehman alums John Levito and Federico Zamora, and TCW for firing star manager and chief investment officer Jeffrey Gundlach after buying rival Metropolitan West Asset Management). PowerShares lands in the spotlight over delays in issuing adequate shares for its DB US Dollar Bullish ETF, while the AMIDEX Cancer Innovation & Healthcare fund charges 500 basis points and yet put half of its assets into a money market fund. 

Edited by: Neil Anderson, Managing Editor

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