Beating the market by 30 percent apparently isn't good enough for Mark Jewell
. This week the Associated Press
absolute return funds to task for losing an average 11.7 percent over the last 12 months, even as the Dow lost 44.85 percent year-over-year as of March 2.
"The market's slide has exposed absolute return funds' big weakness: you can still lose money," Jewell writes.
The Mutual Fund Store founder Adam Bold
and Strategic Insight research director Avi Nachmany
offer their thoughts on the subject.
Jewell singles out several absolute return funds, including: Dreyfus Global Absolute Return
, Nakoma Absolute Return
, RiverSource Absolute Return Currency & Income
, Rydex Absolute Return Strategies
and UBS Absolute Return Bond
. He also points to Putnam
, while noting that the Power Financial
subsidiary's absolute return funds are brand new.
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