Inside these posts: Mutual funds

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Morningstar nearly doubles 4Q profit

Morningstar Inc. said fourth-quarter net income increased to $27.4 million, or 54 cents per diluted share, from $14.8 million, or 29 cents per diluted share, in the same period a year earlier.

Mutual fund firm to boost Chicago stake

Franklin Resources Inc., parent of Franklin Templeton Investments, is in talks to boost its stake in First Chicago Bancorp, which owns $1.08 billion-asset First Chicago Bank & Trust, to 19 percent, according to documents filed with the Federal Reserve Bank of San Francisco. Get the full story »

Morningstar names top fund managers for 2010

Three fresh faces took top mutual fund industry honors when research firm Morningstar Inc. Wednesday named stock pickers at Ruane, Cunniff and Goldfarb and Janus Capital Group as its top stock managers of 2010.

Robert Goldfarb and David Poppe, who run the $3.4 billion Sequoia Fund, were crowned as the year’s best domestic stock pickers for their long-term success in picking top companies, like Berkshire Hathaway, at reasonable prices. Get the full story »

Groupon stake could be available to all via T. Rowe

Online deal site Groupon is still privately held but retail investors might soon be able to own a piece of it, judging by other startups in which mutual funds run by T. Rowe Price Group have invested. Get the full story »

Largest Ariel funds outpace peers in 3Q

Ariel Investments’ two biggest mutual funds outperformed their peers in the third quarter, and the Chicago-based money manager also said it plans to “remain patient” with “weak-performing” PrivateBancorp Inc.

Ariel on Tuesday released the results for its Ariel Fund, which has assets of $1.93 billion, and its Ariel Appreciation Fund, which has  $1.32 billion in assets. Get the full story »

Legg Mason sells rest of Sears Holdings stake

Legg Mason Capital Management Inc. sold its remaining position in retailer Sears Holdings Corp. during the third quarter, according to a Monday filing with the Securities and Exchange Commission, ending the ownership of erstwhile Sears believer Bill Miller. Get the full story »

Fund investors still taking bonds over stocks

Mutual fund investors continued to put their money into bond investments rather than U.S. stocks last month, despite the market’s recent gains.

Supreme Court taking up Janus mutual fund case

The U.S. Supreme Court on Monday agreed to review a lower court ruling that revived a securities class-action lawsuit against Janus Capital Group Inc. (JNS).

Plaintiffs sued Janus in 2003 after the company’s shares dropped amid allegations that it and other mutual-fund companies allowed sophisticated traders to rapidly trade in and out of their funds at the expense of long-term shareholders. Get the full story »

Jeffrey Gundlach: Deflation, double dip ahead

Jeffrey Gundlach, the star bond fund manager who proclaimed in 2007 that subprime mortgages were going to become an unmitigated disaster, is not optimistic now either.

But rather than fearing runaway inflation, as many Americans do, Gundlach is concerned that the nation has at least a couple of years of deflation ahead and perhaps a double dip recession.  Speaking at the Morningstar annual conference in Chicago he said the country is burdened by debt levels so high that they cannot go on much longer without threatening the country.