Tobin Smith + Changewave.com = ???? Message Board

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Pastimes : Tobin Smith + Changewave.com = ????

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To: Jack Hartmann who started this subject	11/4/2003 5:11:47 PM
From: Jack Hartmann	Read Replies (1) of 8

Changewave funds liquated The fund world's no-load and tech revolutions each were dealt another blow Monday, thanks to the Nasdaq's slide. Monday filing from the tiny and young Marketocracy ChangeWave fund discloses its plans to liquidate. As we've noted in recent weeks, thanks to an abundance of tech funds and a dearth of investor interest, fund companies' migration into the steadier adviser channel and out of the tech-fund game altogether is likely to continue. In 1995, there were some 20 tech funds out there, but thanks to 1999's heady gains and last year's record inflows that number now stands at more than 150. Unfortunately, most were launched just as tech stocks peaked last year, so they are sporting big losses -- the average tech fund is down more than 40% over the past 12 months, according to Chicago fund tracker Morningstar.

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