Investing October 28, 2002
Stock Funds Down? You've Got a Lot of Company
October 28, 2002 (PLANSPONSOR.com) - Nearly all
stock mutual funds suffered losses during third quarter,
according to Weiss Ratings, Inc.
Reported by Eric Hazard
More than 98% of the 5,735 stock mutual funds rated by Weiss lost money during the quarter, with an average loss of 16.6%. The 4,273 bond funds fared better, 88.9% showing a gain with the average fund returning 2.6%. By comparison, the S&P 500 declined 17.6%.
Biggest sector losers in third quarter were:
- Technology -25.5%
- Foreign -19.5%
- Small cap -19.3%
Individual stock fund losers were:
- ProFunds-Ultra Inv -42.1%
- Berkshire Focus Fund -41.5%
- Rydex Series-Electronics Inv -40.2%
- Fidelity Select-Electronics -37.4%
Largest bond fund gainers were:
- American Century Maturity 2025 +20.4%
- American Century Maturity 2020 +17.8%
- Rydex Series US Government Inv +17.1%
- Rydex Series US Government C +16.7%
- American Century Maturity 2015 +15.8%