Stock Fund Investors Pull Money From Some Prominent Funds

A Wall Street Journal article yesterday (“Fallen Fund Stars Find Fewer Takers”, The Wall Street Journal, September 23, C15) listed four large, prominent mutual funds which have experienced notable outflows this year after underperforming the market last year:

  • Dodge & Cox Internationl (DODFX), a $28 billion international stock fund, has experienced $790 million in outflows this year through June.  It lost 47% during 2008 and is up 45% so far this year.
  • Fidelity Magellan (FMAGX), a $22 billion growth stock fund, had $1.5 billion in withdrawals through August.  It lost 49% in 2008 and is up 38% this year.
  • Templeton Growth (TEPLX), a $13 billion growth stock fund with an international bent, has outflows of $1.4 billion this year.  It lost 43% in 2008 and is up 26% this year.
  • Legg Mason Value Trust (LMVFX), a $4 billion value stock fund managed by Bill Miller, has had outflows of $902 million this year.  It lost 55% in 2008 and is up 39% this year.

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