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Fund Times

Fund Times: Openings, Closings, and Manager Changes

Janus, Fidelity, Putnam, Pioneer, Seligman, Barclays, MAS, and AMIDEX.

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Some fund-family behemoths laid plans to launch new value funds on the heels of the best year in the last three for offerings that prefer stocks from the clearance racks, while a fallen hero of value investors decided to start his own hedge fund.

Openings
Only time will tell whether it's a sign that some of the best minds in the investment business think the bloom has come off the growth-investing rose or, on the other hand, a signal that last year's value rally, modest though it was, has peaked. But three of the biggest names in the mutual-fund business, Fidelity, Putnam, and Janus, have filed papers with the Securities and Exchange Commission to roll out new value funds this spring that they will sell through financial planners, advisors, and retirement plans.

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.