TRAMX shows it strength on a bad day only down .01 cent. This fund is heavey in financials and very little movement in a down market. Also seems like some area in this fund is investing in US Banks ?? I think this is going to be a Great fund for long term. Bought today !
NEW YORK (CNNMoney.com) -- Saudi billionaire-Prince Alwaleed bin Talal and a team of Chinese investors may ride to embattled Citigroup's rescue, according to a report from The Wall Street Journal.
Chinese investors, including China Development Bank, will reportedly contribute around $2 billion. It was not known how much would be invested by Prince Alwaleed, but the Journal calculated that his stake in the bank would likely remain under 5 percent, but that even a 1 percent stake would be a vote of confidence.
An earlier report said that Citigroup is trying to raise an additional $10 billion, most of which would come from overseas funds. In November, Alwaleed sold a 4.9 percent stake in Citigroup for $7.5 billion to the Abu Dhabi Investment Authority.