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Rating:Active Managers at American Funds and Fidelity Win Praise Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 15, 2009

Active Managers at American Funds and Fidelity Win Praise

by: Meredith Mazzilli

An article in this Mondayís Wall Street Journal shed a positive light on the recent performance of some actively managed mutual funds. The WSJ's Gregory Zuckerman gave recognition to several funds in particular for what was seen as standout performance in the marketís three-month rally.

American Funds' Growth Fund of America and its Fundamental Investors fund both were noted for outperforming the S&P benchmark. Even the beleaguered Fidelity Magellan Fund was recognized for its recent gains.

The WSJ attributed the sudden positive performance of these funds and stock funds in general to the success of growth stocks and the relatively large representation of growth stocks in the stock fund arena.

While some actively managed mutual funds have demonstrated recent success, it appears that investors are still not entirely won over -- each of the ten largest mutual funds, including the recent "winners" named in the article, have seen net investor withdrawals this year. 

Correction: A previous version of this story mis-identified the two fund firm subjects in the headline. The fund firms mentioned in the WSJ article cited here were American Funds and Fidelity.

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