Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Van Wagoner Adds Small Account Fee Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, December 26, 2002

Van Wagoner Adds Small Account Fee

by: Sean Hanna, Editor in Chief

Garrett Van Wagoner is not letting the bear market get in the way of his fund complex's expansion. The firm is readying a new mid-cap growth fund for launch next year and has instituted a annual fee on accounts with less than $2,500 in assets, reports Reuters. The new fund will be dubbed Growth Opportunities, according to an SEC registration filing.

Van Wagoner funds typically invest in stocks of quickly growing companies. In the late 1990s that meant the firm was heavily weighted in technology stocks.

Despite the crash (in both the market and its fund assets) the firm said in the filing that it would continue to invest in innovative new firms through the fund. Investors pulled $140 million from the fund family in 2002 on top of the $64 million they pulled out in 2001, according to estimates from FRC. Van Wagoner Capital Management's asset base has fallen to $300 million from a peak of $2.7 billion at the end of 1999.

To boost revenues in the face of the asset decline, Van Wagoner has instituted an annual fee of $24 for accounts with balances below $2,500.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use