Last year could not end soon enough for the people who run value funds.

Value funds suffered net redemptions of approximately $39 billion through Nov. 30, according to Financial Research Corp. of Boston, a mutual fund tracking and consulting firm. Thanks to the redemptions and an average total return for value funds that was 8.48 percent last year as calculated by Lipper of Summit, N.J., assets in value funds actually shrunk to approximately $674 billion as of Nov. 30, down about $10 billion from the start of the year. Sales numbers for December were not available late last week.

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.