Top funds may have lost $4 bln on Freddie and Fannie

Reuters- Some of the best known U.S. fund firms probably suffered significant losses in last week’s meltdown in the stocks of mortgage finance agencies Fannie Mae and Freddie Mac.

Among the casualties may be the one-time star stock-picker Bill Miller at Legg Mason, whose funds have owned a series of companies that have been battered by the credit crisis and the weakening economy.

Others include Capital Group, including its Growth Fund of America, which is the largest U.S. fund, AllianceBernstein, and Fidelity Investments.

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