Managed funds bleed cash
Tuesday 20 July 2004
Emotion, not logic, appears to rule the one in 10 people with money in managed funds.
By The LandlordFundSource research, released today, shows sterling performances by funds have failed to stem the outflow of investors' cash.
"We think this is the third and final stage in a shakeout caused by the bear market of 2000-03, the tech-wreck and September 11," FundSource general manager Tim Anderson said.
Markets fell, investors withdrew money and now - as shown by these figures - investors had experienced a period of good returns, their investments had returned to levels of a year or two ago and now they were moving money elsewhere.
"They're taking their money out and waiting to see what happens next," Anderson said.
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