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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (5772)	10/2/1998 6:01:00 PM
From: BigKNY3	Read Replies (2) \| Respond to of 9523

CBS.MW readers want to know about Janus 20 By Craig Tolliver, CBS MarketWatch Last Update: 3:52 PM ET Oct 2, 1998 Mutual Fund Center The most-viewed fund by CBS MarketWatchers is Janus Twenty (JAVLX). And why not? This fund ranks in the top 20 percent for the one-, three-, five- and 10-year periods. Despite the markets' recent volatility, fund manager Scott Schoelzel has been able to produce a remarkable 27.6 percent year-to-date return for this no-load, capital appreciation fund. The fund derives its name from its limited portfolio of 20 to 30 companies. "When you're pursuing aggressive growth, concentration counts," Schoelzel is quoted as saying on the Janus Web site. "Because good companies and great managements are so rare, I look for high-quality businesses that have a long-term vision as well as a dominant industry franchise." As of Aug. 31, his top holdings included Dell Computer (DELL) at 9.4 percent, Microsoft (MSFT) at 7.9 percent, America Online (AOL) at 6.4 percent, Pfizer (PFE) at 6.2 percent, Warner-Lambert (WLA) at 5.7 percent, Cisco Systems (CSCO) at 5 percent and General Electric (GE) at 4.3 percent -- making up a total of nearly 45 percent of the portfolio. Yacktman speaks Portfolio manager Donald Yacktman filed for a proxy vote by shareholders of both the Yacktman Fund (YACKX) and Yacktman Focused Fund (YAFFX) to remove four out of six members of the board of directors. He also offered a slate of three nominees to be voted on as replacements and is asking shareholders to eliminate one position altogether. Yacktman had been removed by the current board as president of the funds that he founded. The besieged Yacktman does, however, continue to manage both funds for the time being. In a telephone interview with CBS.MarketWatch.com, Yacktman said that the move taken by the board was an act of "friendship over stewardship." Yacktman had dismissed marketing director and fellow board member Jon Carlson last June. Carlson has now been appointed by the board to take over as president of the funds. See related story. Money-market assets down over $3 billion Total money-market mutual-fund assets stood at $1.273 trillion for the week ended Wednesday. Assets of the nation's 590 retail money-market mutual funds decreased by $2.99 billion to $774.24 billion for the week, the Investment Company Institute reported. Assets of the 333 taxable money-market funds in the retail category decreased by $2.02 billion to $637.84 billion; the 257 tax-exempt funds' assets fell by $970.9 million to $136.40 billion. Assets of the 435 institutional money-market funds decreased by $15.5 million to $499.23 billion for the same period. Among institutional funds, assets of the 359 taxable money-market funds fell by $697 million to $453.99 billion; assets of the 76 tax-exempt funds grew by $681.5 million to $45.24 billion.