He was 84. Howard Stein, a former head of the Dreyfus Corporation as one of the fathers of the mutual fund industry has introduced innovations such as money market fund with no upfront costs, died Tuesday at his home in Southampton, New York
He expanded the market for investment funds to potential investors flooding direct mail, instead of sellers. Stein was a powerful force to bring the picture to the investment in government bonds. He was the first U.S. mutual funds to sell in Japan. He helped design the famous Dreyfus television commercials, in which a lion stalking a meter. Not only invented the first "no-load" money market funds – which means no upfront fees – but also created the first tax-free municipal bond funds. Mr.
Stein has created a fund to invest in companies that had shown an unusual interest in the environment and consumers. He recruited people outside the traditional business world, as journalist Bill Moyers, to join the Board of Directors of Dreyfus. In 1970, Mr. He asked provocative public figures, like the feminist writer Gloria Steinem and editor to speak with administrators and managers, and offer new points of view: the session Steinem lifted most of the men in the group says 1:30 PM
6, 1926, immigrants from Poland. His parents, a brother and sister worked in the garment industry. Mathew Howard Stein was born in Brooklyn in October, his family moved from New York, finally settling in an apartment above the food Seventh Avenue in Manhattan. At 5, he began playing the violin. He soon became the practice for 10 hours a day and must be a musician.
When Fortune magazine asked about this, in 1996, she said, perhaps jokingly, "I was foolish not to care .." However, it has been heavily criticized in the hold 80 and 90 for the purchase of shares when the markets were rising. Stein solid track record of investments, including the purchase of New York real cheap goods in the city's fiscal crisis in 1970.
Fortunately Stein gave an example of how Mr. A former employee of Mr. Stein suggested that employees talk with Mr. Paul Getty, some were looking unstable. When Mr. Getty. Getty, the secretary replied that "person" does not speak years before Dreyfus was Mr. invested heavily in business tycoon J. Stein thought alone deviated from the beaten path.
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