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Money Manager Monthly
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WrapManager.com | Contact Us
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April 2011
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MARKET COMMENTARY
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Money Manager Spotlight: Legg Mason ClearBridge Multi-Cap Growth
By Gabriel F. Burczyk, President & Chairman of the Investment Policy Committee
 We get asked all the time about money managers who have done well over the longer-term, and one that comes to mind is the Legg Mason ClearBridge Multi-Cap Growth
strategy. This could be one to consider now as part of your long-term
strategy. We believe many investors would be pleased to come across a
manager with a track record like this and we're happy to recommend it
when appropriate.
This month's newsletter
will give you some insight into the strategy and people behind it in
plain and real terms, hopefully painting a picture of the manager you'll
enjoy.
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MONEY MANAGER COMMENTARY
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Getting Back Into Equities and Issues to Watch
 The Consumer's Slow Climb
Money
Manager Lord Abbett looks at the health of American household finances
and suggests strategies to slowly improve their financial situation.
"American households have used the economic recovery to improve their
finances, considerably too. They have a long way to go, however, before
their balance sheets resemble anything like financial health. Though
just about every relevant financial ratio has improved - such as assets
to liabilities, debt to income, net worth to income - household finances
remain far from the comparatively sound state that prevailed in, say,
the mid-1990s, before the boom in household leverage got its start."
Click Here for Lord Abbett's Full Commentary
 Government Shutdown Looming
Wells
Fargo looks at the government's ongoing debate about spending, taxes
and ultimately the 2011 budget. "The Federal government is operating
under temporary short-term spending authority because Congress has
failed to pass a budget for the current fiscal year ending in September
2011. If Congressional leaders cannot reach a budget compromise this
week, the government might be forced to shut down some activities."
Click Here for Wells Fargo's Commentary
 Implications of a Falling US Dollar
Money
manager Neuberger Berman analyzes the slow decline of the US dollar's
status among world currencies. "But is a declining dollar necessarily a
bad thing? And what are the potential consequences of a weak dollar?
Here are some broad observations about the impact of dollar valuation
change - assuming the dollar's value will decline - and what it means to
investors."
Click Here for Neuberger's Full Commentary
 Strategies for Re-Entering Equity Markets
BlackRock's
Chief Investment Officer of US Fundamental Equity Chris Leavy shares
his thoughts on re-entering the equity markets after The Lost Decade.
"Today, equities as an asset class are supported by strong corporate
balance sheets and earnings growth and are well positioned to return
significant value to investors over the coming years. Investors should
consider global multinational stocks with dividends for income and
exposure to emerging markets growth."
Click Here for the BlackRock's Full Commentary
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FINANCIAL TIDBIT
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CEOs Looking for Ways to Increase Investor Returns
 After
posting the biggest gain in profits since 1988, CEOs are making efforts
to increase their shareholder returns. Dividends, share buybacks and
takeovers are three ways they are attempting to accomplish this goal.
The S&P 500's
dividend yield is currently 1.84%, below the historical average of 2.3%
since 1971, suggesting it has room to rise. Ten companies in the S&P
500, including Cisco and WellPoint Inc., said they will start paying
dividends this year, the most for the first quarter since 2004.
The Share BuyBack
Achievers Index, which tracks US companies that have repurchased 5% of
their stock in the last 12 months, has climbed 6.3% this year, beating
the S&P 500's 4.5% gain. Approved share repurchases for S&P 500
companies topped $149.8 billion in the past three months, exceeding all
of 2009 and the $108.3 billion announced during the first three months
of 2010.
Takeovers topped $257
billion in the first quarter 2010, the most since September 2008. Two
notables are AT&T's $39 billion offer for Deutsche Telekom AG's
wireless unit, and Charles Schwab's purchase of OptionsXpress Holdings
Inc.
Source: Bloomberg |
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The
attached report and information have been prepared or produced by
WrapManager, Inc. from sources and data believed to be reliable.
Information provided in this report is for educational and illustrative
purposes only and should not be construed as individualized investment
advice, as an offer to sell, or the solicitation of an offer to buy any
security in any states where such an offer or solicitation would be
prohibited by regulations. WrapManager, Inc. is not a tax advisory firm.
We recommend you contact your tax attorney or CPA prior to utilizing
any of the tax-related strategies mentioned or discussed. Returns and
experiences will vary for each client. Each client's risk tolerance and
investment objectives are unique to them. Past performance may not be
indicative of future results. No assumption that future performance of
any specific investment or product made reference to directly by
WrapManager, Inc., on its Web site and in marketing materials, will be
profitable or equal the corresponding indicated performance level(s). If
performance numbers are generated gross of fees, a client's return will
be reduced by investment advisory fees and any other expenses. Opinions
expressed are those of WrapManager, Inc. and are subject to change
without notice and are not necessarily those of Prospera Financial
Services, Inc., its directors, parent company or its affiliates.
Securities offered through Prospera Financial Services and cleared
through First Clearing, LLC. Prospera Financial Services - Member
FINRA/SIPC. © 2011 WrapManager, Inc. (800) 541-7774 | info@wrapmanager.com | www.WrapManager.com |
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