Re: Der größte Fonds der Welt und"cash at the sidelines"

verfasst von frank2, 18.01.2001, 18:10

>BOSTON (Reuters) - Fidelity's Magellan fund, the world's largest mutual fund, suffering its first loss in six years in 2000, posted a 9.29 percent decline despite slashing technology holdings and boosting cash in the fourth quarter.
>Magellan, along with most other stock mutual funds, also saw its asset level chopped in 2000, losing $12.87 billion, or 12.1 percent, mostly in the fourth quarter and due to declines in financial markets.
>The gloomy results were disclosed on Wednesday in Fidelity's monthly mutual fund guide, which showed the decline in assets left Magellan with $93.07 billion in assets at year's end compared with $105.94 billion at the end of 1999.
>The poor returns and loss of assets highlighted the difficult market environment last year, particularly in the fourth quarter as technology stocks plunged and a slowing economy dragged down stock markets and most mutual funds.
>In addition to cutting technology holdings, Magellan manager Robert Stansky boosted cash to 4.2 percent from 3.7 percent. Magellan's cash level remained below the industry norm at the end of 2000.
>The cash level in mutual funds rose to 6.5 percent in November, the highest level since November 1997, according to the Investment Company Institute, a trade group for the industry.
>
>Will also heißen: a) eine Menge Geld ist verdampft (10 - 12 % scheint in etwa der Schnitt bei allen Fonds zu sein) und b) es steht wieder Cash bereit, möglicherweise nicht nur, um rückgegebene Anteil zu honorieren, sondern auch, um neu einzusteigen.
>Mit diesem"Cash Level" wird vermutlich demnächst in Analystenkreise gearbeitet werden.
>L.

A cash level of 4.2 (Magellan) or 6.5 (average) is ridiculous. At a real market crash I expect the cash level to be at 20% or higher. Historically, we have one of the lowest cash levels ever. I through away the newspaper with the numbers, but that's what I can remember seeing the cash level of mutual funds for the last 10 years.
One other reason why the mutual funds were forced to have a little higher cash level is because the fluctuations of contributions increased. In order to pay customers that change the funds they need to have cash reserves. I think overall, the mutual funds are still very bullish.


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gesamter Thread:

• Der größte Fonds der Welt und"cash at the sidelines" - Lullaby, 18.01.2001, 09:51
  • Re: Der größte Fonds der Welt und"cash at the sidelines" - frank2, 18.01.2001, 18:10
    • Re: Der größte Fonds der Welt und"cash at the sidelines" - JüKü, 18.01.2001, 19:02
  • Re: Der größte Fonds der Welt und"cash at the sidelines" - Prospector, 18.01.2001, 18:17