Fund Times: Openings, Closings, & Manager Changes
Davis, Janus, Berger, Merrill Lynch, and others.
Stock Funds Still Struggling in Wake of 9/11
Nearly one year after terrorist attacks on the World Trade Center and Pentagon, stock mutual funds, on average, are still struggling to find momentum.
Many investors had hoped the end of the first week of trading after 9/11 might prove to be the bottom of a long, grueling bear market for equities. It wasn't. Between Sept. 21, 2001, and this past Thursday, the average domestic stock fund fell 6%, and the average international fund fell nearly 2%, according to Morningstar data. Meanwhile the typical taxable-bond fund rose 5%, and the average municipal-bond fund advanced 6%.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.