Andrew Tanzer of Kiplinger.com reports that for years, bond funds run by Morgan Keegan’s Jim Kelsoe soared. Then, like Icarus, Kelsoe strayed too close to the sun and came crashing back to earth with melting wings.
Kelsoe’s losses so far in 2007 have been stunning. Regions Morgan Keegan Select High Income (symbol MKHIX) plummeted 56% through December 5, and Regions Morgan Keegan Select Intermediate Bond (MKIBX) collapsed 45%. Results of four closed-end Morgan Keegan fixed-income funds also managed by Kelsoe have also been disastrous.
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If you or someone you know lost money in a Morgan Keegan investment, please contact the attorneys at The Frankowski Firm at 888-741-7503 to discuss your potential legal remedies.