MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, January 2, 2009 A Bill Miller Fund Tops the 2008 Loss List 2008 was a particularly rough year for stock mutual funds, but it looks like it was even tougher for Bill Miller and Legg Mason(perhaps not surprisingly, given Value Trust's performance earlier this year) . In the Wall Street Journal's "Fund Track column, Sam Mamudi reports that, according to Morningstar, the three worst performing non-leveraged domestic stock funds last year were Miller's Opportunity Trust (down 65 percent for the year), Winslow Green Growth (down 61 percent) and another Legg Mason fund, Growth Trust (down 60 percent). The WSJ blames Opportunity Trust's and Growth Trust's losses on anticipating an earlier recovery, and thus buying financials, home-builders and Internet-stocks, while Green Growth suffered from the drop in the price of oil (which hurt so-called "green energy companies"). But MStar's Bridget Hughes claimed the Growth Trust "will soar again," and Green Growth manager Jack Robinson stressed his "long term" investment philosophy to put the returns in perspective. Printed from: MFWire.com/story.asp?s=20335 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |