Growth-Stock Funds Blossom in April

Growth-styled funds did well in April, while asset-allocation funds suffered.
By Sam Patel ,

The general market news was positive for the month of April, as opposed to the early part of the year, and the rally in the equity markets appears to have aided the returns of growth-styled funds.

Four of the five largest upgrades for stock mutual funds occurred in the growth category. The other notable upgrade was the Fidelity Select Technology Fund, which staggered to a C-, up from E+.

The equity markets have risen markedly over the past month, and whether there is enough steam to carry the growth style of funds higher is in doubt, given the less then encouraging economic news of late. Stock mutual funds that generated the highest ratings upgrades for the month of April are highlighted in the table below.

Ticker

Fund Name

Current Rating

Previous Rating

Category/Classification

RSDGX

RS Select Growth Fund A

C

D-

Small Cap

WGGFX

Winslow Green Growth Fd

C

D-

Small Cap

FSPTX

Fidelity Select Technology

C-

E+

Sector - Tech/Communications

SRFAX

MFS Sector Rotational Fund Class A

B

C-

Growth - Domestic

UMPIX

ProFunds-Ultra Mid Cap Inv

C-

E

Aggressive Growth

On the downgrade side, the top half of the table below shows marked falls in ratings experienced by asset-allocation funds. The asset-allocation classification appears on a regular basis throughout the list, and with these funds invested in both the bond and equity markets, it appears that those funds carrying a heavier allocation to the bond market suffered at the hands of the news of a possible

Federal Reserve

rates pause and inflation fears.

Ticker

Fund Name

Current Rating

Previous Rating

Category/Classification

Diff

GGHEX

GMO Alpha Only Fund III

C

A+

Asset Allocation - Global

-8

FOSIX

First Focus Sh Inter Bond Inst

C

A+

Asset Allocation - Domestic

-7

PASAX

PIMCO All Asset A

C+

A+

Asset Allocation - Domestic

-7

EINFX

Elfun Income Fund

C+

A+

Equity Income

-6

BRACX

BlackRock Bd Alloc Target Srs C

C+

A+

Asset Allocation - Domestic

-6

DFINX

Transamerica Prt Inst Money Market

C+

A+

Sector - Other

-6

VWINX

Vanguard Wellesley Income Inv

B-

A+

Asset Allocation - Domestic

-6

VPRRX

Vantagepoint Milestone Retire Incm

B-

A+

Equity Income

-6

DISHX

Transamerica Inst Ast Alloc Sht Hrz

B-

A+

Asset Allocation - Domestic

-6

PAUAX

PIMCO All Asset All Authority A

B

A+

Asset Allocation - Domestic

-5

EXDAX

Manning & Napier Pro-Blend Con Term

B

A+

Asset Allocation - Domestic

-5

IVGTX

ING Van Kampen Glb Franch S

B

A+

Global Equity

-5

JELCX

J Hancock Trust Lifestyle Con Ser I

B

A+

Asset Allocation - Domestic

-5

ARSRX

American Century LStrong Inc R

B

A+

Growth & Income

-5

AONIX

American Century One Ch Vy Con Inv

B

A+

Asset Allocation - Domestic

-5

FMLSX

1st Source Monogram Long/Short

B

A+

Asset Allocation - Domestic

-5

VCSAX

Vanguard Cons Stap Idx Adm

B

A+

Growth & Income

-5

VASIX

Vanguard LifeStrategy Income Fd

B

A+

Asset Allocation - Domestic

-5

FPHAX

Fidelity Select Pharmaceuticals

D+

A

Sector - Health/Biotechnology

-4

VPSOX

Vantagepoint Model Port Savings Ori

C+

A

Asset Allocation - Domestic

-4

DVMKX

Transamerica Prt Money Market

C+

A

Sector - Other

-4

DVCSX

Transamerica Ast Alloc Short Hrz

C+

A

Asset Allocation - Domestic

-4

AANPX

American Beacon Enhanced Income

C+

A

Equity Income

-4

LPRAX

Barclays Gbl Inv Retirement Port R

B-

A

Balanced - Domestic

-4

SHSAX

BlackRock Health Sci Opp Inv A

B-

A

Sector - Health/Biotechnology

-4

DIHSX

Transamerica Inst AstAlc Sh Int Hrz

B-

A

Asset Allocation - Domestic

-4

KRFEX

DWS Target 2014 Fd A

C-

A-

Balanced - Domestic

-4

PSSAX

PIMCO StocksPLUS Tr Sh Strat A

C-

A-

Growth & Income

-4

KRFDX

DWS Target 2013 Fund

C

A-

Asset Allocation - Domestic

-4

FFFAX

Fidelity Freedom Income Fd

C+

A-

Balanced - Domestic

-4

DLIIX

Dreyfus Lifetime Income Inv

C+

A-

Growth & Income

-4

INTLX

Forester Discovery Fund

C

B+

Non-US Equity

-4

INCMX

Fund *X Flexible Income Fund

C

B+

Balanced - Domestic

-4

NDCAX

Nationwide Inv Dest Cons A

C

B+

Asset Allocation - Global

-4

IGFVX

ING GET Series-V

C

B+

Growth - Domestic

-4

IGUEX

ING GET U.S. Core Portfolio - Ser 3

C

B+

Equity Income

-4

WICAX

Waddell & Reed InvestEd Conserv A

C

B+

Growth - Domestic

-4

HSGFX

Hussman Strategic Growth

C-

B

Growth - Domestic

-4

JMNAX

JPMorgan Market Neutral Fund A

C-

B

Equity Income

-4

KRFBX

DWS Target 2011

C-

B

Asset Allocation - Domestic

-4

KRFCX

DWS Target 2012

C-

B

Asset Allocation - Domestic

-4

KRFAX

DWS Target 2010

D+

B-

Asset Allocation - Domestic

-4

BIPIX

ProFunds-Biotech Ultra Sector Inv

D+

B-

Growth - Domestic

-4

GRZZX

Leuthold Grizzly Short Fund

D-

C+

Small Cap

-4

FBIOX

Fidelity Select Biotech Port

D-

C

Sector - Health/Biotechnology

-4

BRPIX

ProFunds-Bear Fund Inv

D-

C

Growth - Domestic

-4

SHPIX

ProFunds-Short Small Cap Inv

E

D+

Small Cap

-4

RYTMX

Rydex Dyn-Inv S&P 500 2x Strategy A

E-

D

Aggressive Growth

-4

Sam Patel, CFA, is the manager of mutual fund research for the TheStreet.com Ratings.

In keeping with TSC's Investment Policy, employees of TheStreet.com Ratings with access to pre-publication ratings data must pre-clear any potential trade through the legal department, and are prohibited from trading any security that is the subject of an unpublished rating revision until the second business day after the rating is published.

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