Funds that rev up your portfolio: our list of 90 top-performing vehicles can help steer you to a promising financial future.
Black Enterprise › Vol. 33 Nbr. 9, April 2003
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Mutual Fund Overview
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Funds that rev up your portfolio: our list of 90 top-performing vehicles can help steer you to a promising financial future.
JUST WHEN MUTUAL FUND INVESTORS THOUGHT THAT THINGS COULDN'T get any worse--they did! In 2001, recession and terror attacks rocked the stock market, sending U.S. stock funds to double-digit losses. Large-company growth funds, the ones that led the way in the 1990s bull market, suffered the heaviest losses.
Last year should have been better. The economy recovered, albeit slowly, and Americans were mercifully spared from another catastrophic terrorist atrocity. Yet the stock market--and stock funds--turned in an even worse performance. During 2002, U.S. diversified stock funds lost nearly 23%, according to Morningstar Inc. There was literally no place to hide. * Small got smaller. Even small-cap value funds, which buy small-company stocks that sell at low prices compared to the company's earnings and had excelled in 2000 and 2001, lost money. * Offshore, off-balance. Foreign stock funds also fell, although their losses were smaller than those of the domestic funds. * Nothing special. Specialty funds holding utility, healthcare, technology, and telecom funds dropped 24% to 43%. Tech funds now have posted three straight years of losses of more than 37%. In fact, if you had $100,000 invested in the average tech fund three years ago, your stake would ...See the full content of this document
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