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Article: GE's Contra Fund: downside protection plus. (Commentary).
- Article from:
- Investment News
- Article date:
- August 26, 2002
- Author:
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Copyright informationCOPYRIGHT 2002 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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Downside protection is becoming a powerful selling point at GE Private Asset Management in Sherman Oaks, Calif.
The company, which manages $2 billion of separate-account assets, is using an in-house mutual fund made up mostly of Standard & Poor's 500 stock index put options that increase in value when the index falls, to help limit overall portfolio losses to 10%.
Its Contra Fund, registered with the Securities and Exchange Commission and subadvised by Credit Suisse Asset Management LLC in New York, can be purchased only through GE Private Asset Management. It does not yet have a ticker symbol.
The fund's performance--up 91% in 2001 and approximately 85% 50 far ...
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