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Thursday, September 30, 1999 Masters' Adds Fees, New Managers Litman/Gregory, the advisors to the Masters' Select Funds said it will be adding a 2% redemption fee to its funds for those rash investors who wish to jump ship in less than 180 days.
The Master' Select Funds join a growing list of funds which have taken steps to discourage timers. Although some funds do welcome timers, the most prominent of which are the Rydex and ProFunds, many remain concerned about protecting their asset base from too rapid in and outflows. In other news, Masters' Select Funds has elected a team of three portfolio managers from Seattle-based Mastholm Asset Management, to manage approximately 10% of Masters' Select International Fund. Ted Tyson, Mastholm's CIO and portfolio manager, will lead the team, which also includes the firm's portfolio managers Joe Jordan and Doug Allen. The managers will use a bottom-up all capitalization growth approach, with a focus on developed markets. Bruce Bee, CIO of Bee & Associates, had managed this portion of the fund but died this summer. Printed from: MFWire.com/story.asp?s=24627 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |