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Article: Small Funds Tough Out New Regulations.
- Article from:
- Money Management Executive
- Article date:
- October 4, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dire prognostications that the slew of new strict and costly regulatory requirements will drive small-fund managers to bail out from the mutual fund business in droves, have not materialized. At least not yet. But new rules have caused advisors to take a fresh look at their fund business.
While several small-fund managers have filed notices with the SEC in recent weeks acknowledging that they will close up and liquidate their funds, the exodus is not as severe as fund industry pundits had predicted.
"We are not seeing the rapid fund closings that were predicted," noted Joe Neuberger, SVP of U.S. Bancorp Fund Services in Milwaukee. "We could see an ...