MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, August 15, 2008 Will Losses Force Steel's Hand on Evergreen Sale? Rumors continue to swirl about a possible sale of Evergreen Investments by parent Wachovia Corp. This despite Wachovia chief Robert Steel saying on August 5 that a sale of the bank's asset management was unlikely, Reuters reports. Tony Plath, an associate professor of finance at the University of North Carolina at Charlotte told the wire service that Evergreen may be one of the first business lines Steel looks at for a possible sale because the firm has never had a very strong brand in the first place. An Evergreen spokeswoman countered, telling Reuters that Evergreen, which has AUM of $245.9 billion, was a core business line for Wachovia. Printed from: MFWire.com/story.asp?s=19052 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |