Bloomberg reports that Franklin Resources Inc. is beating every money manager in the Standard & Poor’s 500 Index this year. The reason may be investor disdain for equities in the U.S., one of the world’s few stock markets showing a gain.
Franklin rose 14 percent through July 29, while S&P’s 11- member index of large asset managers and custody banks fell 10 percent. Shareholders are paying almost three times as much for every dollar Franklin manages as they shell out for BlackRock Inc.’s $3.7 trillion in assets, and more than four times as much as they’re willing to pay for Legg Mason Inc…
Find out the rest at http://www.businessweek.com/news/2011-08-01/franklin-shares-top-rivals-as-investors-put-stock-in-world-bonds.html
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