Word: open-ended
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...newest and fastest-growing investment trend-mutual funds. Tantalized by bullish stock prices and the Common Market's bright prospects, small European investors are buying into mutual funds as never before. Where only a handful of Continental funds existed prewar, Western Europe now boasts some 200 open-end and mixed investment trusts with well over 2,000,000 shareholders and total assets of about $4 billion...
...again on-again negotiations, which finally wound up in Labor Secretary Arthur Goldberg's Washington office, the telegraphers whistled Russell to a stop. Rather than face a strike in which the telegraphers would almost certainly have been joined by the other railroad brotherhoods, Russell signed an open-end contract that could saddle the S.P. with a telegraphic staff for the next 50 years and virtually guarantees any qualified S.P. telegrapher who wants it a lifetime...
...mutual funds, investing for long-term gains. Sales of mutual-fund shares in the first quarter rose to a new high of $619 million, up 3⅓% from a year earlier. Increased redemptions were more than matched by new sales. At the end of the first quarter, the 156 open-end investment company members of the National Association of Investment Companies had total assets of $15.3 billion. Their holdings of common and preferred stocks listed on the New York Stock Exchange represent almost 4% of the total value of the Big Board's stocks...
...money to use. Bankers give him much of the credit for a new New York State banking law passed in 1950 that enabled savings banks to invest part of their assets in stocks. He was the first president of New York's Institutional Investors Mutual Fund, an open-end stock fund for mutual savings banks that now has assets of $46 million. With it all, he was an easy man to work for: friendly, outgoing, a delegator of responsibility who enjoyed calling his staff "my family." Says one Union Dime executive: "I've never gone to any convention...
Deltec's success has inspired imitators; two new open-end investment funds and several Wall Street-type firms are now busily stimulating the securities market. From his marble-walled Rio office and his spacious Copacabana Beach home, Dauphinot is looking beyond Brazil for other back roads for his thundering jeep-herd to travel. Newest challenge: the undeveloped capital markets of Argentina...