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 |
|
Monday, January 14, 2013 The Star Trib Wonders If Columbia Can Stop the Bleeding Who’s going to plug the hole in this dam? Ameriprise’s mutual fund arm, Columbia Management, is struggling to resolve its long-standing investor outflow problem, according to the Minneapolis StarTribune. The newspaper says that investors -- retail and institutional alike -- have been pulling more money from the coffers of Boston-based Columbia than they've been putting in for 11 straight quarters. On a yearly basis, Columbia has been in net outflows since 2006, the paper notes. What’s worse, the StarTribune reports that last year Columbia had larger total net outflows than almost any other fund manager in the country. Through the end of November, investors yanked a net $13.8 billion from Columbia's institutional and retail businesses. That put Columbia second from the bottom among long-term U.S. fund managers, according to Stifel, Nicolaus & Co. data cited in the article. Ameriprise executives say they're attacking the river of outflows on several fronts, but the withdrawals have industry analysts concerned. Read more on the issue in the StarTribune. Printed from: MFWire.com/story.asp?s=42667 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |