And just like that, another star active manager bites the dust. Earlier this month, one of the most respected mutual fund managers in history announced that he was stepping down after a tumultuous stretch that cast a long, red shadow over an otherwise illustrious career. Bill Miller, who has been the manger or co-manager of the Legg Mason Capital Management Value Trust since the fund started in the early 1980s, is stepping aside from the day-to-day management of the portfolio after a string of disappointing years shrunk the asset base of what was once a high-flying mutual fund that could seemingly do no wrong. Mason’s Value Trust neat the S&P 500 for a string of 15 straight calendar years between 1991 and 2005. Recent years have not been so kind; Miller’s fund lost about 55% in 2008, and suffered some high profile blunders that included a massive loss in struggling [...] Click here to read the original article on ETFdb.com. Related Posts: May ETF Roundup: Launches, Filings, and Closures Russell Plans Six Actively Managed ETFs Russell Brings More “Investment Discipline ETFs” To Market June ETF Roundup: Launches, Filings, and Closures ETF Insider: A Dead Cat Bounce?
And just like that, another star active manager bites the dust. Earlier this month, one of the most respected mutual fund managers in history announced that he was stepping down after a tumultuous stretch that cast a long, red shadow over an otherwise illustrious career. Bill Miller, who has been the manger or co-manager of the Legg Mason Capital Management Value Trust since the fund started in the early 1980s, is stepping aside from the day-to-day management of the portfolio after a string of disappointing years shrunk the asset base of what was once a high-flying mutual fund that could seemingly do no wrong. Mason’s Value Trust neat the S&P 500 for a string of 15 straight calendar years between 1991 and 2005. Recent years have not been so kind; Miller’s fund lost about 55% in 2008, and suffered some high profile blunders that included a massive loss in struggling [...]
Click here to read the original article on ETFdb.com.
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