Guess Who's Coming to Value Funds?

Growth managers have tossed out a slew of cratering tech stocks this year. Value managers are quietly scoffing up those castaways.

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Time to Weigh Your Tech Exposure and Consider a Diet

Value funds are bargain hunters. Traditionally they focus on cheap stocks of companies with consistent, if unremarkable, growth. Growth funds, on the other hand, typically focus on the expensive stocks of companies growing earnings faster than their peers and the overall market. Consequently, the average big-cap value fund has just 13.3% of its money invested in tech stocks, while the average big-cap growth fund has a 43.3% stake, according to Morningstar. Tech stocks make up some 27% of the S&P 500, the benchmark for many large-cap funds. ...