Thu, 22 Jan 2015
Mike Gitlin's jump to Capital Group was unexpected.
May flows data show investors are putting money to work in nontraditional fixed-income holdings, as well as emerging-markets equities, for perceived better returns.
Below-average returns don't shake Morningstar analysts' confidence in some funds, while recent outperformance doesn't grant higher ratings to others.
As yields rose, both taxable- and municipal- bond funds saw record monthly redemptions in absolute terms in June.
It was tough for active managers to outpace Vanguard's low-cost index funds in 2014, and many of its active funds also outperformed.
Most Vanguard funds delivered another solid year in 2013, but management changes and a shift out of its fund comfort zone are things to watch this year.
Although some Vanguard funds underperformed their peers during the market rally, the firm had more portfolios in the top quartile of their categories than in the bottom quartile.
Interest in dividend-paying stocks and bonds remained high as the market eyed the Fed.
Moving in the right direction.
While a majority of our top fund managers are outperforming this year, three of them truly stand out from the rest given their ability to outperform the market over all time periods.
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