Fund Times: Openings, Closings, & Manager Changes
AIM, Invesco, Fidelity, Scudder, Munder, Gabelli, T. Rowe Price, MFS, and more.
October Wasn’t Black for Stock Funds
October was the best month for domestic-stock funds in nearly a year. We’re not about to guess whether the rally was the turning point between bear and bull markets. However, we did look at some of the largest funds in last month’s strongest-performing fund categories to see which ones were best-positioned to exploit the surge.
Nearly every stock fund category rose in October, while most bond fund groups fell. Technology and communications funds, as well as large-growth offerings, on average, had the best months. The typical Japan stock, real estate, and precious-metals funds lost money. All municipal bond categories shed money last month, while long- and intermediate-term government and corporate bond fund categories also retreated. Emerging-markets, international, and shorter-term corporate and government fixed-income groups advanced.
Dan Culloton has a position in the following securities mentioned above: PTTRX. Find out about Morningstar’s editorial policies.