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Foreseeing a Power Surge, Chase Mutual Funds Unit Plugs into Utilities Sector
Beginning of article
Chase Manhattan Corp.'s asset management division is turning its attention to an industry that many investors have ignored.
At a recent forum on global markets, executives in the bank's mutual fund division said the current climate of deregulation among utilities has led them to reexamine the sector, which has lost money for three years.
"We have been increasing our exposure to electric utilities," said David Klassen, head of U.S. equities for Chase's global asset management division.
There have been "dramatic and fundamental changes in electric utilities which people have not picked up on."
Mr. Klassen said 15% of its Vista Equity Income Fund, which has …
