Mutual fund death toll so far this year: 35

Mutual fund liquidations this year are already nearly double what they were by this time in 2008.
MAR 10, 2009
By  Bloomberg
Mutual fund liquidations this year are already nearly double what they were by this time in 2008. As of March 5, 35 funds have been liquidated, compared to 19 last year and 16 in 2007, according to Chicago-based Morningstar Inc. Many funds, already hit hard by the markets, have experienced heavy redemption requests from investors moving to cash and other safe havens. Several liquidations are set to occur in the next couple of months. Lazard Asset Management LLC of New York has filed with the Securities and Exchange Commission to liquidate the $5 million Lazard Global Equity Income Fund (LGEIX). Launched in April 2008, the fund will liquidate March 30. Year-to-date through March 6, the fund posted a loss of 22.33%. The Alger Technology Fund (SPETX) will liquidate April 30. The fund, launched Sept. 1, 2000, by Fred Alger Management Inc. of New York, has $350,000 in assets. Year-to-date through March 6, the fund reported a loss of 12.5%. And just last week, E-Trade Financial Corp. of New York announced the liquidation of its series of proprietary index funds.

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