Mutual Fund Performance 2008.
From Business Week on line.
Every Stock Mutual Fund Has Lost Money in 2008, Except One
Posted by: Lauren Young on November 21
Out of the 11,585 U.S. and international stock mutual funds tracked by Morningstar Inc., 11,584 have lost money in 2008, according to fund data through Nov. 20.
In other words, just one fund hasn’t lost money this year—and that is the APX Mid Cap Growth Fund, which was flat through Thursday’s close. That’s right, folks, its return—or lack thereof—is a mere zero thus far in 2008.
Annette Larson, who is Morningstar’s chief data cruncher, has worked at the Chicago firm since 1994. “I’ve never seen it this bad before,” she says. In fact, she was certain she made a mistake when she analyzed the most recent mutual fund data. “I thought to myself: ‘This cannot be right,’ so I did it again, and again, and then I realized all but one fund is negative. I’m in awe,” Larson says.
Not every fund company provides closing data to Morningstar on a daily basis, so there is a chance other funds are in positive territory for the year. But given the overall dismal return of stock funds in 2008, there is an even bigger chance those funds are down, too.
In other words, just one fund hasn’t lost money this year—and that is the APX Mid Cap Growth Fund, which was flat through Thursday’s close. That’s right, folks, its return—or lack thereof—is a mere zero thus far in 2008.
Annette Larson, who is Morningstar’s chief data cruncher, has worked at the Chicago firm since 1994. “I’ve never seen it this bad before,” she says. In fact, she was certain she made a mistake when she analyzed the most recent mutual fund data. “I thought to myself: ‘This cannot be right,’ so I did it again, and again, and then I realized all but one fund is negative. I’m in awe,” Larson says.
Not every fund company provides closing data to Morningstar on a daily basis, so there is a chance other funds are in positive territory for the year. But given the overall dismal return of stock funds in 2008, there is an even bigger chance those funds are down, too.
posted by CR English at 7:57 AM
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