• / Free eNewsletters & Magazine
  • / My Account
Home>Research & Insights>Investment Insights>Our Take on the Quarter's Best-Performing Funds

Related Content

  1. Videos
  2. Articles
  1. Values and Opportunity in Tech

    Leuthold's Doug Ramsey, Ariel's Charlie Bobrinskoy, and Tom Forester of Forester Value comment on the prospects for the tech sector, including Microsoft's future in the 'cloud' and Cisco's recent drubbing.

  2. Despite a Rocky Market, Fund Investors Go for Growth

    Though performance has been volatile this year, investors have thus far been willing to bet on growthier areas of the stock and bond markets, says Morningstar associate director of fund analysis Shannon Zimmerman.

  3. McQuaid: Two Themes for Growth Investors

    The Columbia Acorn manager makes the case for the fund's 'downstream from technology' and 'American brands' themes, and comments on the upcoming earnings season.

  4. What to Watch in Tech Today

    Morningstar's Grady Burkett highlights the new dynamics in an increasingly mobile-driven sector, the effect of Europe woes on key players, the hallmarks of durability among social media names, and more.

  1. A Solid Batting Average for Our Fund Analyst Picks

    It's time once more for a quarterly update on the performance of our Fund Analyst Picks. First, a preamble on what the picks are and how we judge their performance. The Fund Analyst Picks are a buy list representing our view on funds with the best prospects for strong long-term performance. Funds ...

  2. How the 15 Largest Mutual Funds Are Faring in 2010

    It's been a good year for PIMCO but an off year for many American Funds.

  3. Inside Our New Mutual Fund Portfolio Pages

    Great new tools to help you know what you own.

  4. Four Ultimate Stock-Pickers That Continue to Outperform

    Market volatility has shaped the performance of many top managers this year.

Related Topics

  1. Forestar Real Estate Group LLC
  2. Oppenheimer
  3. Oppenheimer Commodity Strat Total Ret A
  4. OppenheimerFunds Large Blend
  5. OppenheimerFunds Large Growth
  6. OppenheimerFunds Large Value
  7. OppenheimerFunds Small Blend
  8. Red Oak Technology Select
  9. Stocks
  10. Techne Corporation

Our Take on the Quarter's Best-Performing Funds

It might not be 1999 again, but tech funds are at the top of the charts.

Amy Arnott, 03/21/2003

<P>We've always warned about the perils of chasing short-term performance, and this quarter's top-performing funds are no exception. While most stock-fund categories have continued to bleed red ink for the year to date through March 17, 2003, funds that invest in technology-related stocks have hit the top of the charts.</P> <P>Some investors have been speculating on an upturn in the semiconductor cycle, and other tech-related industries such as wireline equipment and data networking have also bounced higher in the hopes of better days ahead. </P> <P>Investors should bear in mind that technology funds are highly specialized offerings that carry a considerable amount of risk, though. Their hefty expense ratios are another drawback. </P> <P>With commodity prices surging, Oppenheimer Real Asset <?XML:NAMESPACE PREFIX = MSTR /?><MSTR:SECURITY>QRAAX</MSTR:SECURITY> has been another top performer. The fund has benefited from higher prices on oil, gas, and other commodities. But this fund also fills a highly specialized role and is probably too volatile for most investors' portfolios. </P> <TABLE cellSpacing="0" cellPadding="0" width=578 border="0" > <TD><FONT face="Times New Roman" size=3><FONT size=3> <TABLE cellSpacing="0" cellPadding="0" width=422 border="0" > <TD vAlign="bottom" align="left" bgColor="#999999" colSpan=4><FONT face="Trebuchet MS, Arial, Helvetica" color="#ffffff" size="-2" ><B>Top-Performing Funds in 2003's First Quarter*</B></FONT></TD> <TD vAlign="bottom" align=right><IMG height=5 src="http://im.morningstar.com/im/dot_clear.gif" width=182></TD> <TD vAlign="bottom" align=right><IMG height="1" src="http://im.morningstar.com/im/dot_clear.gif" width=70></TD> <TD vAlign="bottom" align=right><IMG height="1" src="http://im.morningstar.com/im/dot_clear.gif" width=70></TD> <TD vAlign="bottom" align=right><IMG height="1" src="http://im.morningstar.com/im/dot_clear.gif" width=100></TD> <TD vAlign="top" align=right> </TD> <TD vAlign="top" align=right> <P><FONT face="Trebuchet MS, Arial, Helvetica" color=#999999 size="-2" ><B>Year-to-Date<BR>Return ( % )</B></FONT></P></TD> <TD vAlign="top" align=right> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#999999 size="-2" ><B>Net Assets<BR>( $mil )</B></FONT></DIV></TD> <TD vAlign="top" align="left" > <DIV align="center"><FONT face="Trebuchet MS, Arial, Helvetica" color=#999999 size="-2" ><B>Morningstar<BR>Rating</B></FONT></DIV></TD> <TD vAlign="top" align=right colSpan=4 height=4><IMG height=5 src="http://im.morningstar.com/im/dot_clear.gif" width=422></TD> <TD vAlign="top" align="left" ><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><STRONG>Amerindo Technology Fund</STRONG> <MSTR:SECURITY>ATCHX</MSTR:SECURITY> has huge positions in Internet stocks, and its ups and downs can be extreme.</FONT></TD> <TD vAlign="top" align=right> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" >16.88</FONT></DIV></TD> <TD vAlign="top"> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" >59</FONT></DIV></TD> <TD vAlign="top" align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/2Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" ><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >Gut-wrenching losses illustrate the downside of <STRONG>ProFunds UltraOTC</STRONG>'s <A href="http://quote.morningstar.com/switch.html?ticker=UOPIX" ><MSTR:SECURITY>UOPIX</MSTR:SECURITY></A> leveraged approach.</FONT></TD> <TD vAlign="top" align=right> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" >16.40</FONT></DIV></TD> <TD vAlign="top" align="left" > <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" >167</FONT></DIV></TD> <TD vAlign="top" align=right><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/1Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4 height=5><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" ><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>Red Oak Technology Select Fund</STRONG> <A href="http://quote.morningstar.com/switch.html?ticker=ROGSX" ><MSTR:SECURITY>ROGSX</MSTR:SECURITY></A> is about as risky as they come, and its concentrated portfolio leads to extreme gyrations in returns.</FONT></TD> <TD vAlign="top" align=right> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >12.35</FONT></DIV></TD> <TD vAlign="top" align="left" > <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >241</FONT></DIV></TD> <TD vAlign="top" align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/2Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >Diversification benefits alone may not be enough to convince investors to find a place for <STRONG>Oppenheimer Real Asset Fund</STRONG> <MSTR:SECURITY>QRAAX</MSTR:SECURITY>.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >11.29</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >224</FONT></DIV></TD> <TD vAlign="top" align=right height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/4Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" ><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>RS Information Age Fund</STRONG> <MSTR:SECURITY>RSIFX</MSTR:SECURITY> has a shot at succeeding in a sustained tech rally, but it's so risky that it's probably inappropriate for the vast majority of investors. </FONT></TD> <TD vAlign="top" align=right> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >10.33</FONT></DIV></TD> <TD vAlign="top" align="left" > <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >51</FONT></DIV></TD> <TD vAlign="top" align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/3Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>TCW Galileo Aggressive Growth Equities</STRONG> <MSTR:SECURITY>TGMCX</MSTR:SECURITY> simply has too much sector- and issue-specific risk. Investors seeking mid-cap growth exposure can find smoother rides with a more diversified portfolio elsewhere.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >9.76</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >97</FONT></DIV></TD> <TD vAlign="top" align=right height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/2Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=4><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>Enterprise Technology Fund</STRONG> <MSTR:SECURITY>EIFBX</MSTR:SECURITY> has a broader take on the Internet sector than most, and management will hold mainstream technology and even some nontechnology stocks alongside pure-play dot-coms.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >9.63</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >52</FONT></DIV></TD> <TD vAlign="top" align=right height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/2Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=5><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>AXP Global Technology</STRONG> <MSTR:SECURITY>AXIAX</MSTR:SECURITY> fared poorly in its inaugural two years, but things are finally looking up. The new management team includes an ex-Fidelity tech-fund manager.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >9.43</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >126</FONT></DIV></TD> <TD vAlign="top" align=right height=44> <DIV align="center"><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" >N/A</FONT></DIV></TD> <TD vAlign="top" align=right colSpan=5><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>Berkshire Focus Fund</STRONG>'s <MSTR:SECURITY>BFOCX</MSTR:SECURITY> history leaves much to be desired, and we're also bearish about its prospects.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >9.19</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >23</FONT></DIV></TD> <TD vAlign="top" align=right height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/1Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=5><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="top" align="left" height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ><STRONG>Alliance Emerging Market Debt</STRONG> <A href="http://quote.morningstar.com/switch.html?ticker=AGDAX" ><MSTR:SECURITY>AGDAX</MSTR:SECURITY></A> is much too risky for conservative and mainstream bond investors. Intrepid emerging-markets-bond fans with long time horizons, on the other hand, should check it out.</FONT></TD> <TD vAlign="top" align=right height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >9.16</FONT></DIV></TD> <TD vAlign="top" align="left" height=44> <DIV align=right><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" >252</FONT></DIV></TD> <TD vAlign="top" align=right height=44><FONT face="Trebuchet MS, Arial, Helvetica" size="-2" ></FONT><FONT face="Trebuchet MS, Arial, Helvetica" color=#000000 size="-2" ><IMG height="1"6 src="http://im.morningstar.com/im/3Stars.gif" width=74></FONT></TD> <TD vAlign="top" align=right colSpan=5><IMG height=9 src="http://im.morningstar.com/im/422x9rule.gif" width=422></TD> <TD vAlign="bottom" align="left" colSpan=4><FONT face="Trebuchet MS, Arial, Helvetica" color=#999999 size="-2" >* Table includes the top-performing funds in Morningstar's coverage universe. <BR>Data is through 03-17-03.</FONT></TD></TABLE></FONT></FONT></TD> <TD><FONT face="Times New Roman,Times" color=#000000 size=3><BR></FONT></TD></TABLE>

1
ShareEmail
Print
Text Size
Comment
blog comments powered by Disqus
Our Products
Tools
Resources
Services
Upcoming Events
Conferences
Webinars

©2012 Morningstar Advisor. All right reserved.