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Afterward, some investors withdrew their funds. [6] This settlement was the final resolution in an investigation of Putnam's payments to 80 brokers conducted over three years. [9] In 2006, 48 percent of Putnam's mutual funds scored in the top 50 percent compared with funds in their peer group, an increase of 8 percent from two years prior. [7]
What Are Mutual Funds? Mutual Funds are perhaps the most well-known type of investment fund. Established in 1924, the first modern mutual fund, the Massachusetts Investors Trust, offered investors ...
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CI Financial was founded in 1965 as Universal Savings Fund Management Limited. [7] It was a small private investment firm until 1994, when it held an IPO on the Toronto Stock Exchange as C.I. Fund Management (the C.I. stood for Canadian International). [8]
A possible reason was to avoid the potential conflict of Geode shorting stocks held by Fidelity's mutual funds. [4] Although separate from Fidelity, it remained located near Fidelity's headquarters on Summer Street in Boston. It continued to manage Fidelity's passive funds as a sub-adviser, according to the Financial Times in England. [5]
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