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CGM Focus Message Board

  • xdubson xdubson Feb 26, 2008 4:24 AM Flag

    The Red Herring

    Speaking of mergers, shareholders of Ken Heebner's CGM Capital Development mutual fund are being asked to approve a merger of their fund with the CGM Focus Fund, which Heebner also manages. Capital Development had been Heebner's principal capital appreciation stock fund for decades. He launched CGM Focus, with a concentrated portfolio and the ability to short stocks, as an alternative in the late 1990s. Now CGM Focus, which has earned 38 percent annually over the past five years, manages $5.5 billion, while Capital Development invests $536 million.

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