Real-Estate Funds? Are You Mad?
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THE DEAFENING CHATTER about the bursting real-estate bubble is undoubtedly unsettling to many a homeowner who figured their recently purchased $3 million pied-a-terre by the park was a can't-miss investment.
It has also probably scared some mutual fund investors, who decided that the jig was up for their highflying real-estate funds. Indeed, in August (the last month for which data is available) the sector had outflows of $170 million, after ending 2004 with the most inflows ($4.68 billion) of any fund sector tracked by investment-research firm Lipper.
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SmartMoney.com © 2005 SmartMoney. SmartMoney is a joint publishing venture of Dow Jones Company, Inc. and Hearst Communications, Inc. All Rights Reserved. All quotes delayed by 20 minutes. Delayed quotes provided by S&P Comstock. Historical prices and fundamental data provided by Media General Financial Services. Mutual fund data provided by Morningstar. Mutual Fund NAVs are as of previous day's close. Earnings estimates provided by Zacks Investment Research. Insider trading data provided by Thomson Financial. Upgrades and downgrades provided by Briefing.com.
