The housing crisis has cost another sub-advisor its mandates.
Morningstar reports that after more than two decades on the job,
DWS Scudder has taken away Baltimore-based
Alex Brown Investment Management's mandates for two funds. Heavy investments in the financial and housing-related sectors caused the funds to under perform. Alex Brown had run the
DWS Equity Partners fund since its inception a decade ago and the
DWS Communications fund for more than two decades. Management of the two funds will be brought in-house by Scudder.
 
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