Word: investers
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Dates: during 1960-1969
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...impetus for the current European boom in mutual funds began with the return to convertibility of most European currencies. Excited by the prospect of being able to invest abroad and take home their profits in hard francs, Swiss bankers hurried to set up a clutch of new mutual funds. The Swiss master of mutuals is a Zurich banker named Ernest Renk, who runs a combine called Intrag for the giant Union des Banques Suisses and three smaller banks. Intrag manages ten separate mutual funds with combined assets of $500 million, specializing in investments in different parts of the world...
Liquor Assets. The boom has launched some oddities. Three Swiss funds invest solely in Scotch whisky futures, betting that the drinking public's thirst will force up prices by the time the liquor matures. In one of the whisky funds, an investor who wants to withdraw can, if he wishes, literally convert his shares into liquid assets. Another Swiss fund called "Berlin 1961" promised that its investments would go entirely to beleaguered West Berlin-a proposal that enraged Swiss bankers, who contended that the idea compromised Swiss neutrality...
...apartments"), most are convinced that Chicago is growing fast enough to fill the buildings that are popping up all over town. Says William Hartmann, a vice president of Skidmore, Owings & Merrill: "The boom represents the solidification of the Midwest as an industrial center and as a place to invest...
...years ago, determined not to add just one more list to the confusion, TIME devised another kind of All-America. We went around to the professional scouts, who on sunny or wintry Saturdays put a cold, calm eye on college football teams, looking for players they are prepared to invest in. TIME's pro-picked All-America ran in our Dec. 1 issue. Last week the professionals of the National and American Football leagues made their drafts. Except for one end and one guard, every graduating senior on our list was picked by some pro team on the first...
Nokin is a trained accountant, engineer and economist who combines openminded vigor with abiding respect for the conventions that have made La Générale one of the world's most powerful corporations. "Our tradition is to invest in new things that are sure," says Max Nokin. "Our tradition prevents us from being rash...