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Should You Sell Scandal-Scared Funds?; Coping With The Probe; You must weigh today's risk vs. potential cost of yanking your assets.(MUTUAL FUNDS)(INVESTMENT TRENDS)
Byline: PAUL KATZEFF
What should you do if investors start pulling assets out of your mutual fund: Stay in or join the stampede?
It's a question on many minds these days. Regulators' probes into trading and sales abuses prompted pension plans to pull $30 billion out of Putnam Investments' funds last month. That was 11% of its assets.
Morningstar and other industry watchers have advised that investors exit or avoid such fund firms as Putnam and Janus Group.
True, you don't want to be among the last few investors in a fund after everyone else has bailed. Fund operating costs are likely to soar. Fund managers grappling with mass redemptions will likely have trouble keeping up with rivals.
But your decision to stay or leave should be based on more than just whether your fund has been touched by scandal. You need to consider tax consequences and assess suitable alternative investments.
Be Patient
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