As Kingdom says, it's sometimes partly due to the investment mandate of the fund in question. This tends to exacerbate trends in the market, as the criteria force these funds to "follow" the trend.
In the case of BlackRock, their Australian equity investment arms are winding down due to investor redemptions. Funny things, they're currently advertising Long/Short Opportunity funds, and muni bonds... why not make the switch in all this "GLOOM"? they're charging a $3,000 fee per $100k invested in the long equity fund. Absolute Retards... and the stupid thing is that their investors who buy into BlackRock's thesis of doomed markets take a financial hit. I'm happy to have stolen a bargain from their fund.
AMX Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
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