Growth-Stock Funds Blossom in April

The general market news was positive for the month of April, as opposed to the early part of the year, and the rally in the equity markets appears to have aided the returns of growth-styled funds.

Four of the five largest upgrades for stock mutual funds occurred in the growth category. The other notable upgrade was the Fidelity Select Technology Fund, which staggered to a C-, up from E+.

The equity markets have risen markedly over the past month, and whether there is enough steam to carry the growth style of funds higher is in doubt, given the less then encouraging economic news of late. Stock mutual funds that generated the highest ratings upgrades for the month of April are highlighted in the table below.

Ticker	Fund Name	Current Rating	Previous Rating	Category/Classification
RSDGX	RS Select Growth Fund A	C	D-	Small Cap
WGGFX	Winslow Green Growth Fd	C	D-	Small Cap
FSPTX	Fidelity Select Technology	C-	E+	Sector - Tech/Communications
SRFAX	MFS Sector Rotational Fund Class A	B	C-	Growth - Domestic
UMPIX	ProFunds-Ultra Mid Cap Inv	C-	E	Aggressive Growth

On the downgrade side, the top half of the table below shows marked falls in ratings experienced by asset-allocation funds. The asset-allocation classification appears on a regular basis throughout the list, and with these funds invested in both the bond and equity markets, it appears that those funds carrying a heavier allocation to the bond market suffered at the hands of the news of a possible Federal Reserve rates pause and inflation fears.

Ticker	Fund Name	Current Rating	Previous Rating	Category/Classification	Diff
GGHEX	GMO Alpha Only Fund III	C	A+	Asset Allocation - Global	-8
FOSIX	First Focus Sh Inter Bond Inst	C	A+	Asset Allocation - Domestic	-7
PASAX	PIMCO All Asset A	C+	A+	Asset Allocation - Domestic	-7
EINFX	Elfun Income Fund	C+	A+	Equity Income	-6
BRACX	BlackRock Bd Alloc Target Srs C	C+	A+	Asset Allocation - Domestic	-6
DFINX	Transamerica Prt Inst Money Market	C+	A+	Sector - Other	-6
VWINX	Vanguard Wellesley Income Inv	B-	A+	Asset Allocation - Domestic	-6
VPRRX	Vantagepoint Milestone Retire Incm	B-	A+	Equity Income	-6
DISHX	Transamerica Inst Ast Alloc Sht Hrz	B-	A+	Asset Allocation - Domestic	-6
PAUAX	PIMCO All Asset All Authority A	B	A+	Asset Allocation - Domestic	-5
EXDAX	Manning & Napier Pro-Blend Con Term	B	A+	Asset Allocation - Domestic	-5
IVGTX	ING Van Kampen Glb Franch S	B	A+	Global Equity	-5
JELCX	J Hancock Trust Lifestyle Con Ser I	B	A+	Asset Allocation - Domestic	-5
ARSRX	American Century LStrong Inc R	B	A+	Growth & Income	-5
AONIX	American Century One Ch Vy Con Inv	B	A+	Asset Allocation - Domestic	-5
FMLSX	1st Source Monogram Long/Short	B	A+	Asset Allocation - Domestic	-5
VCSAX	Vanguard Cons Stap Idx Adm	B	A+	Growth & Income	-5
VASIX	Vanguard LifeStrategy Income Fd	B	A+	Asset Allocation - Domestic	-5
FPHAX	Fidelity Select Pharmaceuticals	D+	A	Sector - Health/Biotechnology	-4
VPSOX	Vantagepoint Model Port Savings Ori	C+	A	Asset Allocation - Domestic	-4
DVMKX	Transamerica Prt Money Market	C+	A	Sector - Other	-4
DVCSX	Transamerica Ast Alloc Short Hrz	C+	A	Asset Allocation - Domestic	-4
AANPX	American Beacon Enhanced Income	C+	A	Equity Income	-4
LPRAX	Barclays Gbl Inv Retirement Port R	B-	A	Balanced - Domestic	-4
SHSAX	BlackRock Health Sci Opp Inv A	B-	A	Sector - Health/Biotechnology	-4
DIHSX	Transamerica Inst AstAlc Sh Int Hrz	B-	A	Asset Allocation - Domestic	-4
KRFEX	DWS Target 2014 Fd A	C-	A-	Balanced - Domestic	-4
PSSAX	PIMCO StocksPLUS Tr Sh Strat A	C-	A-	Growth & Income	-4
KRFDX	DWS Target 2013 Fund	C	A-	Asset Allocation - Domestic	-4
FFFAX	Fidelity Freedom Income Fd	C+	A-	Balanced - Domestic	-4
DLIIX	Dreyfus Lifetime Income Inv	C+	A-	Growth & Income	-4
INTLX	Forester Discovery Fund	C	B+	Non-US Equity	-4
INCMX	Fund *X Flexible Income Fund	C	B+	Balanced - Domestic	-4
NDCAX	Nationwide Inv Dest Cons A	C	B+	Asset Allocation - Global	-4
IGFVX	ING GET Series-V	C	B+	Growth - Domestic	-4
IGUEX	ING GET U.S. Core Portfolio - Ser 3	C	B+	Equity Income	-4
WICAX	Waddell & Reed InvestEd Conserv A	C	B+	Growth - Domestic	-4
HSGFX	Hussman Strategic Growth	C-	B	Growth - Domestic	-4
JMNAX	JPMorgan Market Neutral Fund A	C-	B	Equity Income	-4
KRFBX	DWS Target 2011	C-	B	Asset Allocation - Domestic	-4
KRFCX	DWS Target 2012	C-	B	Asset Allocation - Domestic	-4
KRFAX	DWS Target 2010	D+	B-	Asset Allocation - Domestic	-4
BIPIX	ProFunds-Biotech Ultra Sector Inv	D+	B-	Growth - Domestic	-4
GRZZX	Leuthold Grizzly Short Fund	D-	C+	Small Cap	-4
FBIOX	Fidelity Select Biotech Port	D-	C	Sector - Health/Biotechnology	-4
BRPIX	ProFunds-Bear Fund Inv	D-	C	Growth - Domestic	-4
SHPIX	ProFunds-Short Small Cap Inv	E	D+	Small Cap	-4
RYTMX	Rydex Dyn-Inv S&P 500 2x Strategy A	E-	D	Aggressive Growth	-4