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Fund profile: Managed by Bruce Berkowitz, the fund is known for its concentrated bets as it holds only 19 stocks. It has a 76% sector bet on financials. Its poor performance has resulted in a 55% decline in its asset base this year.
Performance: down 30.6%, dead last in the large-value category, with a return that is 27 percentage points below the category average. Over three years it has an average annual return of 8.4%.
Assets: $8 billion
American International Group(AIG - Get Report), the largest holding at 22% of the fund, down 53%;
Sears Holdings(SHLD), 8% of fund, down 27%;
Citigroup(C - Get Report), 5% of the fund, down 43%.
Janus Overseas(JDIAX)Fund profile: Manager Brent Lynn has a reputation as a risk taker and is willing to bet on stocks of any market value and in any market worldwide, giving the portfolio a mix of foreign and domestic stocks. But this year most of those wagers have turned against him. He took sole control of the fund in June 2003.
Performance: down 32%, putting it in the 98th percentile in its foreign large-growth category, 18 percentage points worse than its category average. Over the past three years it has an average annual return of 14%.
Assets: $8.8 billion
Li & Fung(Hong Kong Exchange), 8% of the fund, down 32%;
Ford(F - Get Report), 4% of the fund, down 37%;
Delta Air Lines(DAL), 4% of the fund, down 37%.
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