Word: fund
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Dates: during 1950-1959
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...funds appeal to small investors because they provide great diversity and professional management. But the fund buyer pays commissions of up to 8%. How do the professional managers fare? With the rising market of the last ten years, nearly all the funds show impressive gains. But few outperform the market. The big funds have not increased in value as fast as blue chips. "Sure," says Joseph E. Welch, executive vice president of the $651 million Wellington Fund. "With the benefit of hindsight, an investor might have done better to put his money into some of the blue chips...
While no one makes a killing in mutual funds, the typical fund buyer is not looking for one. He is 55, says the National Association of Investment Companies, earns $6,542 a year, has mutual-fund holdings of $4,171, which he bought for retirement and protection against inflations. "The kind of people who buy mutual funds,'' says Edward B. Burr, executive vice president of One William Street, "intend to keep their shares ten, 20 years, or for life...
...their business savvy. Clarence Francis, president and later chairman between 1934 and 1954, has been a top food and foreign-trade adviser to Presidents Roosevelt, Truman and Eisenhower. His successor, Mortimer, was chairman of the star-studded Advertising Council from 1947 to 1950, headed the United Community Campaign fund last year. Under him, each General Foods' sales dollar has brought a pretax profit of 10? v. 7? for its chief competitor, Standard Brands (Chase & Sanborn coffee. Royal Gelatin, etc.), and General Foods' stock has risen from $30 in 1954 to $57 last week...
Finally, according to Peter D. Schultz '52, Secretary of the Alumni Association, "The dollar sign does loom pretty big." The Alumni Association, through the Harvard Fund Council, headed by poet David T.W. McCord '21, tries to encourage the "habit of annual giving...
...addition, between two and three hundred of Kennard's classmates have contributed to a fund which will be used to build up the room's record collection...