Invesco To Buy Oppenheimer Funds, Adding $246 Billion In Assets Ouch - That one affects me. About 10% in Oppenheimer going back 25 years. A flawed outfit for sure, but I use (and like) some of their more exotic specialty finds for certain portfolio needs. My other houses steer clear, for the most part, of these niche funds. Currently I hold through Oppenheimer: a gold fund, an infrastructure fund, and a pretty good Alternatives fund. The last has had a rocky past, but current manager Michelle Borre, has done a nice job with it.
How good a manager is Invesco? Have they proven themselves ethical? Committed to shareholders? Reasonable re fees? Easy to deal with? One nice thing about Oppenheimer has been very low minimums. This allows you to scale into a new fund gradually or spread out a relatively small stake among several different funds. From an operating cost perspective, I’d suspect Invesco will look to increasing those minimums.
Is this likely to produce turnover among fund managers?
Here’s the AUM for each of my 3 funds as Lipper lists them. I’m surprised the infrastructure fund (recently acquired from Macguarie) has such a small amount.
OQGAX (global infrastructure) 23.86 M
OPGSX (gold/pm) 856.4 M
QVOPX (alternatives) 1.21 B
As one of the last standing “active management” types, I fear this news in itself will precipitate additional exodus out of Oppenheimer and in the direction of passive funds, making it even more expensive for Oppenheimer to manage their shrinking base and harder to retain talent.
Anybody here deal with Invesco? Thanks for any thoughts on how the buyout may affect existing investors.
Invesco To Buy Oppenheimer Funds, Adding $246 Billion In Assets
Edward Lampert, The Hedge-Fund Star Who Bet on Sears, Is Unrepentant Maybe it will continue to exist in some form. i thought radioshack also filed bankruptcy right? I still see them.
Filing chapter
11 gives Sears breathing room and protection for not being sued for not paying their creditors. They can restructure debt, which means people they owe money will likely get pennies on the dollar or nothing at all. Stock holders will get nothing. Bond holders may or may not get some payment. Assets or the entire company will either be bought by another company or, if they successfully come out of chapter
11 they can issue new stock for those believing Sears can some how reinvent itself minus the debt burden they once had.
I would guess Sears management had the goal over the last couple years of setting itself up for chapter
11 bankruptcy as opposed to chapter 7 where there would be no chance of restructure. It may have looked like management didn't know what they were doing, but their goal likely was not to be a great merchandiser again, but to keep itself in existence under the protection of bankruptcy courts.
Having seen all this take place with Kodak, the likelihood of reinventing itself after all this is slim to none. I wouldn't touch the new stock if issued at the end of this.
US Deficit: $1.5 Billion In Daily Interest
Are we trying to create a record for oldest elected president or something? I for one have this one issue. Government should also have retirement age. You maybe continue in your job as long as you don't lose it, but getting elected for new job you should be under 67. This is not discriminating against old people. This is just leveling the playing field for everyone.
US Deficit: $1.5 Billion In Daily Interest
US Deficit: $1.5 Billion In Daily Interest
ICI: U.S. Fund Investors Pull Most Cash From Bonds Since February With two-year CDs paying 3% guaranteed interest, I am considering moving more money from bond funds to a CD ladder. I did that early this year with taxable savings that had been in a short term muni bond fund. I also moved a sizable portion of money from bond funds to the stable value fund in my 401K. Now I’m considering the same move with my IRAs. Bond fund returns have been terrible with no relief in sight, unless you invest in much riskier categories. High yield bond funds are unlikely to provide ballast if stock markets crash.
High Yield has been bleeding funds too.
Just wondering what has been hot outside the U.S. equity indexes? Most foreign markets are flat or down. EM got hammered. Commodities are down - except for oil, which has now stumbled over the past week or two. Gold took a bad beating - but has rebounded a little bit. Still way down. Real Estate’s down as well.
What in heck is “hot” except for some U.S. equity indexes and maybe some small foreign country somewhere? When folks find out they can pull around 3% (maybe more) in safe cash or very short duration bonds the stampede out of riskier areas might pick up.
Stocks Rally Because You Can’t Sell Off With Earnings This Good Hi
@hank: My current simple target asset allocation is
15% cash, 35% fixed income & 50% equity. I am in the process of moving towards 20% cash, 40% fixed income and 40% equity. I'm thinking that this asset allocation would be good for me going forward. I'm also thinking it best to do this over a period of time and at a pace of about
1% equity reduction per quarter.
Thanks Old_Skeet
I’m comfortable at 40% Balanced,
15% Cash Equivalents,
15% Spectrum Income,
15% in two
Alternative funds, 7.5% International Bonds (including EM) and 7.5% Real Assets
Last time I checked that added up to
100%. :)
US Deficit: $1.5 Billion In Daily Interest
Excellent, concise; love the bar graphic at the end. The "deny the existence of Scandinavia" comment under #4 is priceless.
US Deficit: $1.5 Billion In Daily Interest @MFO Members: I was afraid this would happen when I linked the article about the interest on the public debt, namely politicizing the issue.
According to Wikipedia, United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in
1789. The United States has continuously had a fluctuating public debt since then, except for about a year during
1835–
1836.
Regards,
Ted
US Deficit: $1.5 Billion In Daily Interest
ICI: U.S. Fund Investors Pull Most Cash From Bonds Since February With two-year CDs paying 3% guaranteed interest, I am considering moving more money from bond funds to a CD ladder. I did that early this year with taxable savings that had been in a short term muni bond fund. I also moved a sizable portion of money from bond funds to the stable value fund in my 401K. Now I’m considering the same move with my IRAs. Bond fund returns have been terrible with no relief in sight, unless you invest in much riskier categories. High yield bond funds are unlikely to provide ballast if stock markets crash.
Small-Cap Funds Take A Beating Ours:
PRDSX 1-month down -6.63% ....6.05% of portf.
VSCIX 1-month down -6. 6% .......4.22% of portf.
