| BUSINESSWEEK ONLINE : MARCH 1, 1999 ISSUE | ||||||||
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| PERSONAL BUSINESS
Help! My Nest Egg Is Cold Allen Pechenik of Berkley, Mich., is a 39-year-old senior buyer at Johnson Controls. He has been building his retirement nest egg and now owns a dozen mutual funds. Pechenik watches them carefully and was dismayed last year at the performance of the $40,000 or so he had in Mutual Qualified Fund. ''I bought it because, at the time, it was consistently beating the competition,'' he explains. ''Michael Price was one of the few managers who had real perception. It rewarded me. It went up when he was there.'' Then, in 1996, Price sold the fund group to Franklin Templeton and started preparing for retirement. ''It began to flatten out when he was transferring. And then, when he was gone, it went down and stayed down.'' In December, Pechenick dumped Mutual Qualified. He considered exchanging his money for another Franklin Templeton fund, but passed: ''Their returns aren't anything eye-popping.'' Instead, he took his money and split it between two lower-cost Vanguard Group index funds--60% to Index Growth and the remainder to Index Value. By Robert Barker _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP |
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