Buffalo Newspaper Guild Home Page
Defense Fund Up 3.9%
in First Eight Months of 1996
By David Robinson
Finance Committee Chairperson
As negotiations drag on, the Buffalo Newspaper Guild's defense fund remains
on sound footing.
Despite a July sell-off that saw the Dow Jones Industrial Average decline
by as much as 10 percent at one point, the defense fund is up 3.9 percent
during the first eight months of the year.
At the end of August, the defense fund had $179,485.79, which was $6,732
more than it had at the beginning of the year.
The fund has had a strong September, too, gaining another 1.1 percent for
the first two weeks of the month to boost its return for the year through
Sept. 15 to
5.1 percent.
Those steady gains occurred even though the fund keeps nearly a third of
its assets in low-yielding but safe money market funds.
The fund's top performer was the Tweedy-Browne Global Value Fund, which is
up 11.9 percent for the year. The fund, which invests much of its assets
in European stocks is one of the year's top performing global equity funds.
The Vanguard Wellington Fund, which is the fund's second-best performer,
is up 5 percent through the end of August as the rise in long-term interest
rates has hurt its bond holdings.
The Strong Short-Term Bond fund is up 3.2 percent, while the fund's single
share of Berkshire Hathaway is off 2.5 percent so far this year.
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