|
|
Article: In lackluster quarter, banks' international funds shine.
- Article from:
- American Banker
- Article date:
- May 14, 1997
- Author:
CopyrightCOPYRIGHT 1997 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)
|
International funds led bank equity funds in performance in the first quarter, with the top 10 averaging a 10.81% return, according to data commissioned by American Banker.
Topping the list was Glenmede Trust Co.'s emerging-markets fund, which gained 13.84% in the first quarter. The fund also had consistency in the past 12 months, delivering a nearly identical 13.82%.
The 174 proprietary international funds offered by banks averaged a 1.54% return, only slightly bettering the 1.52% delivery of nonbank funds in the same category, according to CDA/Wiesenberger, Rockville, Md.
To run its $89.8 million-asset emerging-markets fund, Glenmede called on ...