The Markets April 5, 2011

February Sees Strong Equity Inflows

Stock and bond fund inflows were $31.9 billion, while equities posted net inflows of $17.7 billion, according to Financial Research Corporation (FRC) data. 
Reported by

FRC said corporate objectives brought in $11.8 billion, International/Global Equity saw $5.2 billion in inflows and International/Global Fixed Income were $3 billion in February.

Fidelity Series Investment Grade Bond attracted $1.7 billion to lead the fund sales chart in February. SPDR S&P Energy State Street Global Advisors took in $ 1.6 billion and Templeton Global Bond Franklin Templeton Investment added $1.4 billion.

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By Morningstar categories, leading the way in February was Natural Resources with $7 billion, Bank Loan $4.6 billion, and High Yield Bond $3.7 billion.

By fund family judging by assets, Vanguard Group finished February with $1.4 trillion, American Funds with $998 billion and Fidelity (combined) with $921 billion.

Products April 4, 2011

Columbia Management Launches Absolute Return Funds

Columbia Management launched two open-end mutual funds: the Columbia Absolute Return Multi-Strategy Fund and the Columbia Absolute Return Enhanced Multi-Strategy Fund.
Reported by

The Columbia Absolute Return Multi-Strategy Fund (CMSAX) targets long-term returns similar to historical returns of investment-grade bonds, but with lower volatility and low correlation to the Barclays Capital U.S. Aggregate Bond Index. The Columbia Absolute Return Enhanced Multi-Strategy Fund (CEMAX) targets long-term returns similar to historical returns of equities, but with lower volatility and low correlation to the S&P 500 Index.   

The portfolio managers are Todd White, head of alternatives and absolute return investments at Columbia Management, and Kent Peterson, a senior portfolio manager with the asset allocation team at Columbia Management.  

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White joined Columbia Management in 2008 and has 25 years of industry experience including positions at HSBC, as global head of asset-backed and mortgage-backed securities, and at Lehman Brothers. He received a B.S. in finance from Indiana University.   

Peterson joined the firm in 2006 and has 12 years of industry experience. Prior to joining Columbia Management he was with Bridgewater Associates. He earned a B.A. from Cornell University and a Ph.D. from Princeton University.   

For more information on the funds, visit http://www.columbiamanagement.com/absolute-return/.

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