Ten large-sized mutual funds with at least $250 million in assets are poised to beat the S&P 500 for the eighth year in the row, Bloomberg reports.
Leading the charge is the Thornburg Core Growth Fund, up 19.4% so far this year, compared to the S&P’s 12% rise.
Second is the Manning & Napier Pro Blend Maximum Term Series Fund, whose 19.3% return this year has largely been driven by exposure to computers and technology. Tech companies have benefited this year due to corporations’ upgrading their equipment to realize productivity gains. As a result, the Manning fund has increased its tech exposure to 18% of holdings, up from 11% a year ago.
Bill Miller’s Legg Mason Value Trust Fund, which has had a 15-year run of beating the S&P, is up only 4.4% so far this year. At last count, his fund had increased its exposure to technology to 20%. But that might be too little too late.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.