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Strategies & Market Trends : PBHG Funds
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To: Jay Goal who wrote (31)7/12/1996 5:26:00 PM
From: PACO MADDEN   of 268
 
There was a recent article in the Wall Street Journal concerning the openning and closing of PBHG's most recent offering the Limited Fund. The fund initially open only to current PBHG shareholders was to close to new investors once assets reached $100 million dollars; however it ended up accepting over $150 million in the span of two days--a staggering amount in so short a time. Many of PBHG's shareholder's including those who held PBHG Funds through Fidelity and Charles Schwab were left in the dark and in the dust concerning this new mutual fund offering. Many investors heard of the fund too late to invest. However, it was not only the lack of information which had investor's in a tailspin but also the amount of misiformation.

I had the savy or intution to contact PBHG a month or so before the offering to see if they were coming out with any new funds. If anyone has ever tracked the history of PBGH and their new fund offerings, one would know that every domestic equity fund they've ever brought out has just gone gangbusters on the market and squarely beaten the competition. I was told initially by PBHG representatives and subsequently by Fidelity representatives that I would be able to purchace shares of this new fund through my Fidelity FundsNetwork account. I was so excited that I had told friends and relatives about this new fund and that they should try to get in as early as possible. In fact I had given the application I had recieved in the mail from PBHG to my father certain that I would be able purcase the Fund through Fidelity. Low and behold I find out on MOnday that Fidelity would not be offering the fund to ... continued later.
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