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Fund Times

Two Analyst Picks See Big Outflows in June

Plus, Appleseed weeds out big banks, and more.

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Morningstar's most recent estimates of fund flow data turned up a few interesting examples of shareholders heading for the exits at two solid funds.  Longleaf Partners (LLPFX), an Analyst Pick with about $7.4 billion in assets, experienced $303 million in outflows in June. The fund's performance puts it at the head of the pack for the year to date through July 14, 2010, but it trailed peers and the S&P 500 Index in June. Helmed by Mason Hawkins and Staley Cates, the fund struggled in the late 2007-early 2009 bear market and is capable of rough stretches. But shareholders who have stuck with the fund over the long term have benefited. It's among the couple dozen large-blend funds to have outpaced the S&P 500 over the trailing 10- and 15-year periods under essentially the same managements.

Analyst Pick  Dodge & Cox International Stock (DODFX), a $33 billion foreign large-value fund, saw $390 million walk out the door in June. International stock funds overall experienced outflows last month because of concerns about the European debt crisis. The MSCI EAFE Index has fallen 8.2% so far this year.

Courtney Goethals Dobrow does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.