Every Stock Mutual Fund Has Lost Money in 2008, Except One

Posted by: Lauren Young on November 21, 2008

Out of the 11,585 U.S. and international stock mutual funds tracked by Morningstar Inc., 11,584 have lost money in 2008, according to fund data through Nov. 20.

In other words, just one fund hasn’t lost money this year—and that is the APX Mid Cap Growth Fund, which was flat through Thursday’s close. That’s right, folks, its return—or lack thereof—is a mere zero thus far in 2008.

Annette Larson, who is Morningstar’s chief data cruncher, has worked at the Chicago firm since 1994. “I’ve never seen it this bad before,” she says. In fact, she was certain she made a mistake when she analyzed the most recent mutual fund data. “I thought to myself: ‘This cannot be right,’ so I did it again, and again, and then I realized all but one fund is negative. I’m in awe,” Larson says.

Not every fund company provides closing data to Morningstar on a daily basis, so there is a chance other funds are in positive territory for the year. But given the overall dismal return of stock funds in 2008, there is an even bigger chance those funds are down, too.

Reader Comments

November 21 , 2016

November 22, 2008 3:41 AM

What kind of headline will we be reading ?

November 21 , 2018

November 22, 2008 3:54 AM

Oh , and by the way , I remember reading this somewhere : " You´ve waited patiently for the right opportunity. Will you seize it when it comes along ? "

History repeating itself , right ?

MAS

November 22, 2008 7:27 PM

Perhaps Morningstar needs to look at Prudent Bear (BEARX) and Grizzly Short (GRZZX). Both have treated me VERY WELL this year.

Geoffrey Transom

November 23, 2008 12:40 AM

I would venture you're talking about Long-Only funds. That was not made clear.

I am prepared to bet that John Hussman's Strategic Growth fund is in positive territory for the year - it made a new record high (in terms of NAV) on Sept 22, and has been almost entirely hedged since before then.

Cheers


GT
France

PS - my model portfolios have been hedged since Feb 28th of this year, so I guess I can say, hand on heart, that I have outperformed the entire Morningstar universe; my clients only pay $250 a year. har de har - more fool me, I guess.

Barry Ritholtz

November 23, 2008 6:16 AM

Given that most equity mutual funds are required to be fully or nearly fully allocated, this should come as no surprise.

But its such a stark statistic, it really leaps out to you when presented in this way . . .

mike mauskopf

November 23, 2008 4:52 PM

and than there was 1

businessword.com

November 23, 2008 5:13 PM

Why don't her numbers reflect the results of bear market funds, which are up big time from a year ago?

I just screened at Yahoo for stock mutual funds up 50% or more and got almost 20 that are up 51% to 106%.

Llink is here, if allowed:

http://screen.yahoo.com/a?cc=1%3B&nm=&proy=&mgrt=&rtmin=&rtmax=&retrmin=&retrmax=&risrmin=&risrmax=&trytd=&troy=200%2F&trty=&trfy=&mii=&mfl=&er=&namin=&namax=&tomin=&tomax=&mmcmin=&mmcmax=&vw=6&db=funds

LAO

November 30, 2008 12:16 PM

Some commenters are forgetting the premise of the article -- funds that Morningstar tracks. Morningstar does not track (i.e. rate) BEARX, GRZZX, etc. The more interesting question is: Why not?

Jack

December 4, 2008 10:26 PM

Investors should be taking a serious look at the few companies that are growing even in this poor economic environment. The share prices of these growth stocks are not going down; in fact, quite the opposite - they are going UP. More info on these growth stocks at http://www.GrowthStockTips.com

HKInvestor

December 9, 2008 4:16 AM

And really, is that fund up? I mean it has total assets of a whopping US$260K, not millions. And at 7% expense ratio?

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About

Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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