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PBHG Funds Ride Momentum to Big Numbers -- but for How Long?
How many times can you die and come back to life? With cats, odds get long around nine times. For Pilgrim Baxter's PBHG Funds, the number's hard to pin down, but it just went up by one.
The mutual fund family was performing so dismally last year that an attempt by parent United Asset Management (UAM Quote) to sell Pilgrim Baxter fell through, largely due to its funds' poor performance.
Today, the firm's flagship (PBHGX Quote) Growth fund is approaching five-0 territory, returning 49.3% through Wednesday's close. And other PBHG funds are posting Raghib Ismail-like numbers as well: ...
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