Seligman Communications and Information Fund Tops Lipper Rankings for Equity Mutual Funds

Strategic Insights -

The Seligman Communications and Information Fund has demonstrated remarkable staying power in the mutual fund industry, ranking as the top performing equity mutual fund for both the one-year and five-year periods ended December 31, 1994. According to Lipper Analytical Services, the fund outperformed 2,017 other equity mutual funds in 1994, achieving a total return of 35.30% in that year alone. Over the five-year period from 1989 to 1994, the fund generated a staggering 200.07% total return, solidifying its position as a leader in the industry.

Key Takeaways:

  • The Seligman Communications and Information Fund has ranked as the number one equity mutual fund in the nation for both the one-year and five-year periods ended December 31, 1994.
  • The fund outperformed 2,017 other equity mutual funds in 1994, achieving a total return of 35.30%.
  • Over the five-year period from 1989 to 1994, the fund generated a 200.07% total return.
  • The fund's performance has been attributed to the expertise of Paul Wick, portfolio manager, who has predicted strong growth in the technology sector.
  • J. & W. Seligman & Co. Inc., the investment manager of the fund, has over $11 billion in assets under management.
  • The firm serves pension plans, institutions, and individuals, and manages a range of funds including the Seligman Mutual Funds and Tri-Continental Corporation.

Statistics:

  • The Seligman Communications and Information Fund achieved a total return of 35.30% in 1994.
  • The fund generated a 200.07% total return over the five-year period from 1989 to 1994.
  • J. & W. Seligman & Co. Inc. has over $11 billion in assets under management.
  • The firm manages a range of funds including the Seligman Mutual Funds and Tri-Continental Corporation, which is the nation's largest, diversified closed-end equity mutual fund.

Sources:

  • Lipper Analytical Services
  • BUSINESS WEEK (December 26 issue)
  • WALL STREET JOURNAL (January 6 edition)
  • J. & W. Seligman & Co. Inc. press release
  • Seligman Financial Services information.