Word: funding
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Dates: during 1960-1969
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...largest mutual-fund-management group, Minneapolis-based Investors Diversified Services (assets: $6 billion), this year has reduced its auto and steel shares while increasing its investments in noncyclical and service businesses. Among them: oil and gas companies, utilities, banks, personal-loan companies, food chains and some other retailers. Massachusetts Investors Trust, whose assets in 1966's first nine months declined 15%, to $1.9 billion, has bought some food companies, electrical companies and airlines. Sales by the funds lately have caused sharp drops in such stocks as Xerox, General Motors, Fairchiki Camera and Montgomery Ward, which early last week fell...
Sunlight & Shadow. From an overall viewpoint, the funds have done well by their 3,500,000 investors this year. From January through September, the Dow-Jones industrial average dropped 20.1%, but the funds' assets-not counting new money pumped in by investors-declined only 14%. All funds are still spectacularly above levels of the 1950s. For example, $10,000 invested in the Dreyfus Fund in December 1955 grew to $35,199 at year-end 1965, and diminished only to $32,007 on Sept. 30. A $10,000 stake in Fidelity Trend Fund at its initial offering in June...
Diversified Growth Stock 4.2% Delaware Fund...
...Fidelity Fund...
George Putnam Fund of Boston...