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Article: Small fund companies may face consolidation; Shrinking assets spur pickup in deal talk.(News)
- Article from:
- Investment News
- Article date:
- March 10, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, 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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Byline: Sue Asci
The stock market downdraft may soon ignite consolidation among small mutual fund companies.
Collectively, the nation's 477 fund companies that have less than $5 billion in stock and bond fund assets experienced $1.42 billion in net outflows in January, versus net outflows of $3.6 billion for all of last year, according to Financial Research Corp. of Boston.
Meanwhile, assets in those firms totaled $318.8 billion at the end of January, down 5.5% from $337.2 billion in December, said FRC, which didn't include subadvised assets in its calculations.
Among the firms to see the biggest drop in assets over the one-month ...