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Rising stock market buoys Baltimore firms

Rising stock market buoys Baltimore firms

The stock market's banner year brought good news to Baltimore money management firms, with leaders pointing to a rising tide that buoyed their funds and their companies' prospects. Market indices soared in 2013, with the S&P 500 up almost 30 percent, the Dow Jones industrial average up 27 percent and the Nasdaq up 38 percent. The stocks of smaller companies, in particular, climbed: the Russell 2000, one of the indices used to measure small-cap funds, rose about 39 percent. It was the best annual performance since the 1990s for the S&P and the Dow, and the best since 2009 for Nasdaq. And that's translated into strong returns, new jobs and bonuses at many Baltimore...