Volatility
Volatility Makes MFs Ditch Market – March 25
As trading surges to a record and prices grow more unstable than at any time since the Great Depression, mutual funds are selling stocks and hoarding cash, reports Bloomberg News. Also, Great-West Lifeco is leaving the US health insurance business, reports the Canadian Press. Meanwhile, Prudential Asset Management Company said it will launch the Prudential China Smart Wave Balanced Fund to individual and institutional investors. Finally, Santa Monica, California investment firm Coast Asset Management, which manages about $6.7 billion in assets, is preparing to expand.