The Big Screen: Growth Funds That (Gasp!) Skimp on Risk

If you're courageous enough not to swear off growth funds altogether, we've found some that deserve your money.

Make no mistake, growth fund managers, who tend to focus on the pricey shares of the fastest-growing companies, are in a blue period. The average big-cap growth fund rode a fat tech bet to a 41% gain in 1999. But thanks to the tech sector's collapse, these funds have lost more than a third of their value over the past 12 months. Tech-light value funds, which hunt for bargains on Wall Street, are modestly in the black over the same stretch.

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