The Big Screen: Large-Cap Growth Funds That Have Weathered the Storm
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Big-cap growth funds are coming off one of their worst years in at least the past decade. It's often taken an oddball strategy for a fund to avoid the carnage suffered by this ocean of losers.
Over the past 12 months the average big-cap growth fund is down more than 38%, according to Morningstar. The category's worst calendar-year tumble in the past 10 years was its 2.3% dip in 1994. For the most part, these funds' outsize losses are directly correlated to their outsize bets on tech stocks. When the tech sector skyrocketed in 1999, growth fund managers quietly stuffed 40% and more of their fund's money into the mercurial sector. Now that the tech-laden Nasdaq Composite Index has fallen more than 60% over the past 12 months, they're looking pretty battered. ...
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