Morningstar Star-Rating Changes for March
Van Wagoner, Munder NetNet, and Berkshire Focus drop stars; American Funds are gainers.
March came in and left like lion for most funds that traffic heavily in technology stocks. As the Nasdaq Composite fell another 14.5% during the month, tech-heavy funds continued to take a beating and shed stars in the process.
The overall star ratings of one of the most aggressive technology investors in the business, Garrett Van Wagoner, really took it on the chin as the bear market continued to eat away at the triple-digit gains he posted in all five of his offerings in 1999.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.