Sinking Feeling for Funds

Albano, Christine; Fine, Jacob
July 2006
Bond Buyer;7/12/2006, Vol. 357 Issue 32421, p1
Trade Publication
The article reports on the poor total return performance of municipal bond mutual funds due to the rising interest rates in the second quarter of 2006 in the U.S. Kathy Bramlage, senior portfolio manager of Value Line Inc., stated that it has been a frustrating market for them. Joe Deane, portfolio manager at Western Asset Management Co., stressed that they were cautious on rates and they posed themselves to take advantage of the rates and the municipal bonds.


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