Area mutual funds watching for fallout from investment... -
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Published on: 11/7/2003
Last Visited: 11/7/2003
Dawn Kahler, a vice president at Rydex Funds, said investors are not turning away from mutual funds -- they're just leaving the ones that have had questionable practices.
Rydex Funds has increased its assets by more than 50 percent in the past year, from $6 billion to $9.3 billion, she said.
Kahler said she does not believe the current investigations affected Rydex's growth one way or another because it's been strong over the past year, while the investigations by the New York Attorney General's Office and the SEC did not begin until September.
But Kahler said the excessive fees and questionable practices at other companies might benefit her company and others that obeyed the law.
"That old adage of caveat emptor is so appropriate," Kahler said.