Despite attracting a massive amount of new cash, the nation’s largest funds continue to deliver strong returns, the Los Angeles Times reports. Companies that run the biggest funds include American Funds, Davis Funds, Dodge & Cox and Fidelity Investments.
The biggest stock fund, the Growth Fund of America, has more than quadrupled, from $36 billion in 2002 to $160 billion today. And last year it delivered 10.9%, four percentage points better than the average large-cap growth fund’s average rise. The track record is still impressive over the past five years, with the fun up an average of 8% a year, compared to 2.9% by its peers and the S&P 500’s average 6.2% rise.