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Bond Funds

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BUSINESS
June 30, 1989 | By Glenn Burkins, Inquirer Staff Writer
For the second straight month, mutual-fund sales, depressed since the 1987 stock market crash, showed strong signs of rebounding last month as individual investors moved back into stock and bond funds. Sales of stock, bond and income funds totaled $9.5 billion in May, up from $9.1 billion in April and $7.1 billion in May 1988, according to the Investment Company Institute, a Washington trade group. The figures, released yesterday, do not include short-term money market funds and short-term municipal-bond funds.
BUSINESS
July 2, 1990 | By Glenn Burkins, Inquirer Staff Writer
Faced with the prospect of higher federal and local taxes, a growing number of investors are turning to tax-free bond funds, especially those that invest in single-state issues. The amount of money invested in all open-end, single-state bond funds has risen 16.79 percent since April 30, 1989, according to the Investment Company Institute, a mutual-fund association in Washington. Over the same time, assets held in tax-free money-market funds jumped 52.3 percent. A single-state bond fund is one that invests only in municipal bonds issued in a particular state.
BUSINESS
September 24, 1991 | By Jennifer Lin, Inquirer Staff Writer Inquirer staff writer Tawn Nhan contributed to this article
Richard Harrington is an executive at The Vanguard Group of Investment Companies. He works in marketing and manages a staff of 10 that writes advertisements for the company's mutual funds. But before heading to his Valley Forge office yesterday, Harrington took a seat in Vanguard's investor information center, put on a phone headset and fielded some of the 2,259 calls from customers in the first two hours of business. "Good morning, this is Vanguard. My name is Dick Harrington.
BUSINESS
March 21, 1988 | By Charles V. Zehren, Inquirer Staff Writer
Mutual-fund companies have rolled out the first municipal-bond funds that are exempt from New Jersey state income tax as well as federal income tax. Before Jan. 31, there was no point in offering all-New Jersey municipal- bond funds because they were subject to state income tax, according to Reg Green, editor of the Mutual Fund News Service of San Francisco. But late last year, the New Jersey Legislature changed the laws so that state income tax would not be levied on income from such mutual funds.
BUSINESS
July 22, 2013 | By Stan Choe, Associated Press
Investing in bond mutual funds is easy. At least, it was for decades. Investors could count on steady interest payments. Their funds also benefited from rising bond prices as interest rates made a three-decade-long march downward after 1981. When yields fell, bond prices rose: Each step lower made the bonds held by mutual funds more attractive because they offered higher rates than newly issued bonds. But the tide has shifted. Many analysts say we have hit a bottom for interest rates, and the yield on the 10-year Treasury note has climbed to 2.5 percent from 1.6 percent at the start of May. The rise in rates has led to losses for many bond mutual funds, and it's something investors need to get used to, says Rick Rieder, chief investment officer of fundamental fixed-income portfolios at BlackRock, the world's largest asset manager.
BUSINESS
July 1, 2003 | By Todd Mason INQUIRER STAFF WRITER
Kenneth E. Volpert would be the envy of Center City sidewalk vendors if he traded his bond desk at Vanguard Group for a lunch cart. The smaller the portions that Volpert serves up as manager of the Malvern fund family's Total Bond Market Index fund, the longer the line in front of him becomes. Assets of the fund grew from $16.4 billion at the end of 2000 to $25.2 billion at the end of April, according to Morningstar Inc. All bond funds are gaining in popularity even while they deliver less income.
NEWS
January 5, 2000 | By Joseph A. Slobodzian, INQUIRER STAFF WRITER
Saying that Philadelphia continues to operate a "severely overcrowded" prison system, the federal judge overseeing the 18-year-old prison-overcrowding case has found the city in contempt of court and earmarked almost $21 million in city bond funds to complete a new women's prison. The Dec. 30 order by U.S. District Judge Norma L. Shapiro is, in the words of one prison-rights advocate, "relatively painless. " It orders the city to do what officials have already promised to do - build a new 730-bed women's prison by the end of 2001 - with leftover bond money already set aside for criminal-justice projects.
NEWS
May 11, 1995 | By Larry Parker, INQUIRER CORRESPONDENT
Members of the Burlington County Board of Freeholders yesterday heard proposals to use three county bond ordinances, totaling almost $4 million, to fund new public safety and historic preservation initiatives. The bonds, which were given preliminary approval during a board work session last week, include $250,000 for a closed-circuit video network between the county's Minimum Security Facility and Juvenile Detention Center, both in Pemberton Township, and the courthouse in Mount Holly.
NEWS
November 20, 1997 | By Lisa Shafer, INQUIRER CORRESPONDENT
No doubt there has been a will by township residents and supervisors to build new facilities for police, improve storm-water management, and preserve open space. Now, there's a way to pay for the projects - or at least part of them. In a meeting Tuesday, the Board of Supervisors voted, 3-1, to float a $5 million bond. Supervisor Richard Butville was absent. Karen Selvaggi, a supervisor who did not run for reelection and whose term ends this year, opposed the bond over worries a future board might change the projects the bond is designated to cover.
BUSINESS
October 6, 1994 | by Randolph Smith, Daily News Staff Writer
Bond mutual funds bounced back slightly during the third quarter, but remain down for the year because of rising interest rates. Money market funds did better than bonds, gaining nearly 1 percent for the quarter and 2.4 percent for the nine months ended Sept. 30, according to Lipper Analytical Services in Summit, N.J. Despite risks posed by rising interest rates, yields approaching 8 percent on long-term bonds and exceeding 4.5 percent on 90-day Treasury bills could prove attractive to seasoned investors, said A. Michael Lipper, the firm's president.
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NEWS
June 23, 2014
After a tortuous year of unseemly power plays, City Council finally made an eleventh-hour promise last week to give Philadelphia's beleaguered public schools an additional $30 million in bond funds to be retired quickly by an increase in the local sales tax. Now it's the duty of the state legislature and Gov. Corbett to help this city's children, who this past year have gone without books, supplies, counselors, teachers, nurses, aides, and adequate...
BUSINESS
December 20, 2013 | By Erin E. Arvedlund, Inquirer Columnist
Now that the Federal Reserve has decided to cut back its bond-buying by $10 billion a month, the move could torpedo the bond market. What's an investor to do? Professional money managers say they have to keep plugging away as always and hedge against interest-rate moves by buying short-maturity bonds (which are less rate-sensitive) in low-cost funds. "We don't forecast interest-rate moves," says Jeremy Brenn of Sensenig Capital, a registered investment adviser in Fairview Village, Montgomery County.
BUSINESS
December 5, 2013 | By Erin E. Arvedlund, Inquirer Columnist
Hard to believe, but as of Wednesday, there are fewer than 20 trading days left in the year. So, if you want to take profits in your stock portfolio, now would be the time. Almost all major asset classes except commodities have posted gains this year: The S&P 500 equity gauge has rallied 26 percent, on pace for its biggest annual gain since 2003, and reached an all-time high on Nov. 27. The 2014 market is unlikely to match 2013's stellar gains. "Equities may post further gains in the year ahead, despite the strong runup this year and the abiding potential for some pullback," notes Sage Financial Group, of West Conshohocken, in its latest note to investors.
BUSINESS
September 5, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
Gov. Corbett 's poll ratings may be down around knee level among voters, but in the municipal-bond business, he's a hero. The insistence by Corbett and his backers among the state's law and finance establishment that cash-strapped Harrisburg not seek federal bankruptcy reorganization, and the slow, steady drafting of a restructuring plan that the city's creditors say they can live with, has made him the bond guys' favorite alternative to...
BUSINESS
July 22, 2013 | By Stan Choe, Associated Press
Investing in bond mutual funds is easy. At least, it was for decades. Investors could count on steady interest payments. Their funds also benefited from rising bond prices as interest rates made a three-decade-long march downward after 1981. When yields fell, bond prices rose: Each step lower made the bonds held by mutual funds more attractive because they offered higher rates than newly issued bonds. But the tide has shifted. Many analysts say we have hit a bottom for interest rates, and the yield on the 10-year Treasury note has climbed to 2.5 percent from 1.6 percent at the start of May. The rise in rates has led to losses for many bond mutual funds, and it's something investors need to get used to, says Rick Rieder, chief investment officer of fundamental fixed-income portfolios at BlackRock, the world's largest asset manager.
BUSINESS
July 10, 2013
In the Region Rare net outflow at Vanguard For the first time since 1994, investors sold more Vanguard Group funds than they bought last month, as investors fled low U.S. bond yields. The Malvern-based mutual fund company, one of the nation's largest money managers with over $2 trillion in assets, saw net withdrawals of around $100 million for that month, the first since December 1994, according to spokesman John S. Woerth. Investors sold a net $9.7 billion in Vanguard bond funds and $400 million in "balanced" bond-and-stock funds in June, while buying not quite as much, total, in stock ($4.8 billion)
BUSINESS
January 1, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
Stocks in the S&P 500 rose 13 percent in 2012. But many American investors bet the other way, dumping stock-fund shares and investing "astounding" sums in low-yielding bond funds, as if they thought that would be less risky, says Michael Galantino , managing director at investment brokers Boenning & Scattergood in West Conshohocken. Boenning makes a lot of its money from bond sales. But the big bond pile-on is likely to end badly, Galantino warns. Sure, Federal Reserve board chairman Ben Bernanke says he wants to keep interest rates near record lows until bosses start hiring again.
NEWS
December 7, 2012
D EAR HARRY: I'm a retired Vietnam veteran who belongs to a group of vets that has a monthly meeting. At the last meeting, there was speaker who was presented as a financial guru. He told us of a little-known bond fund that has produced an annual yield of more than 7 percent in the last three years. There were a few guys there who confirmed this, saying that they have been with him for years. No one would name the fund, so I am a little leery of the claims, but a few people signed up to invest.
BUSINESS
May 25, 2012 | Inquirer Staff Report
The Vanguard Group closed its high-yield corporate bond fund to most new investors to curtail a flood of money from investors seeking the relatively high returns of its non-investment-grade bonds. In the last six months, investors had poured $2 billion into the fund, bringing its total assets to $16.9 billion, Vanguard said. "In this prolonged low-rate environment, we continue to see investors turn to high-yielding alternatives — including money market fund holders moving to bond funds, U.S. Treasury bond fund holders moving to high-yield corporate funds, and bond fund holders moving to dividend-paying stock funds.
BUSINESS
January 24, 2012 | By Erin E. Arvedlund, Inquirer Columnist
Corporate bonds are grabbing the spotlight these days as investors grow desperate for yields above rock-bottom U.S. Treasuries, which are returning just 3 percent or so annually. We asked one reader, Karl O. Koch, to allow us to reprint his question: How does one go about buying corporate bonds? We'll show you the ways to buy individual corporate bonds and bond funds, the pros and cons of each, and the fees to watch out for. Retail investors can research company bonds' risk via credit ratings.
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