Dodge & Cox’s Assets Cut in Half by ‘Breathtakingly Bad’ Bets
By Charles Stein and Sree Vidya Bhaktavatsalam
March 9 (Bloomberg) — Dodge & Cox lost almost half of its assets in the past year, the most among the 20 largest U.S. mutual-fund companies, after sticking with financial stocks such as American International Group Inc. and Citigroup Inc.
Dodge & Cox’s stock and bond fund assets fell 47 percent to $79.4 billion in the 12 months ended Jan. 31, according to data compiled by Financial Research Corp. in Boston. That compared with an industry average decline of 33 percent, according to the Boston-based firm.
… reksa dana berbasis saham finansial amrik JELAS PALING PARAH HASILNYA, dan bego
Biggest asset declines
12 months ended Jan. 31
Firm Jan. 2009 Assets 12-Month Decline
Dodge & Cox $79.4 Billion 47%
Legg Mason $68.9 Billion 45%
Van Kampen Inv. $43.2 Billion 43%
OppenheimerFunds $92.4 Billion 41%
Janus Capital $54.6 Billion 41%
Columbia Management $77.2 Billion 39%
Fidelity Inv.* $525.4 Billion 39%
Source: Financial Research Corp.
Includes stock and bond mutual-fund assets only, and excludes
money-market funds. Ranking drawn from 20 largest fund companies.