Financial Services Industry
Industry: Email Alert RSS FeedAs value-fund stars fade, Chicago falls into a funk.
Investment News, April, 2000 by Arndorfer, James B.
City ponders its fund future, fate of remaining homegrown managers Already a backwater in the mutual fund industry, Chicago now is in danger of falling off the map. Many of Chicago's leading value-oriented managers, who once won renown for buying cheap stocks that turned into gold, have been shunned by investors for poor performance.
Two of the city's stars have fallen hard: Gary Brinson last month announced plans to retire as chairman of UBS Brinson, and Robert Sanborn stepped down as manager of the beleaguered Oakmark Fund. By missing out on the long-running- if currently troubled-tech-driven growth market, Chicago firms have been eclipsed by rivals in Denver, St. Louis and Milwaukee. That's a blow for a town that has seen outsiders swallow...
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