Fund Times: Openings, Closings, & Manager Changes
Industry giants, Columbia, CRM, Japan, Morgan Stanley, JP Morgan, and others.
Big Funds Show Relatively Small Losses
Halfway through the bear market's third year, the largest mutual funds in the industry are hurting, but holding their own against their peers.
All of the giants--except bond fund Pimco Total Return (PTTRX), which has gained 4.7% so far this year--has lost money, but eight of the 10 funds with the biggest asset bases were in the top half of their respective categories on the last day of June. Two weeks into the third quarter, seven of those funds were still beating their average peers.
Dan Culloton has a position in the following securities mentioned above: PTTRX. Find out about Morningstar’s editorial policies.