Multiple managers are all the rage
From TheSteet.com
The trend in mutual funds is multiple managers. During the past three years, the number of funds with more than one manager has jumped from 21% to 34%, according to fund tracker Thomson/Wiesenberger. The move is the result of fund companies' desire to avoid the "star system," to prevent a fund from being too closely associated with one manager. But Wiesenberger's data doesn't show much effect on performance. "We didn't see any proof that either one was better than the other in terms of performance," says Wiesenberger analyst Ramy Shaalan. Scudder and MFS are two of the firms that have adopted the approach, but it hasn't stopped those firms from suffering outflows.

Templeton reverses field, launches growth fund
From Morningstar
Templeton is changing its value investing ways and coming out with a new growth fund, Templeton Overseas Growth. The fund will be managed by Bahamas-based Templeton Global Advisors Limited, which is led by Mark Holowesko. The introduction of growth funds by value shops and vice versa is hardly new. The Franklin side of the Franklin Templeton fund group rolled out two domestic-focused growth funds at the beginning of 1999, and growth-oriented Janus recently introduced a value fund.

 

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