Bill Miller, portfolio manager of the Legg Mason Value Trust Fund hailed for beating the S&P 500 for 15 years, ended that streak by delivering the worst performance among his peers, Bloomberg reports. A multi-cap value fund, Value Trust rose a scant 5.9% in 2006, compared to the S&P 500’s 15.8% rise.

Certainly, however, Miller should be recognized as one of the best-performing managers of his generation, delivering an average return of 15.7% between 1991 and 2005, compared with the S&P 500’s annual 11.8% rise.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.