Wednesday, April 25, 2007

BlackRock, Goldman Sachs, Waddell Funds Sell U.S. Stocks, Buy Europe, Asia

(Bloomberg) -- Mutual-fund managers at BlackRock Inc., Goldman Sachs Group Inc. and Waddell & Reed Financial Inc. are investing everywhere except in the U.S.

Dennis Stattman is holding the lowest amount of U.S. and Canadian stocks in his $18.1 billion BlackRock Global Allocation Fund since 1998. Katinka Domotorffy, manager of the $2.3 billion Goldman Sachs Growth Strategy Portfolio, prefers Germany, Switzerland and Austria to the U.S.


Read more at Bloomberg Stocks News

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