Daily Screen: Large-Cap Growth Fund Winners

Until last quarter, large-cap growth funds were king of the hill.

Today the Daily Screen turns its attention to the fund category that has lorded over just about every other in recent years. Over the past two years, managers of many big-cap funds have loaded up on massive tech titans and ridden them to fat returns. The average large-cap growth fund boasts a tech weighting of more than 40% and has averaged 34% returns in each of the past two years, compared with 19.7% returns for the average S&P 500 index fund, according to Lipper.

Growth funds, as opposed to lower-octane value funds, typically focus on fast-growing companies that often sport steep price-to-earnings ratios, like networking titan Cisco Systems (CSCO Quote). ...