The Individual Investor’s Guide to the Top Mutual Funds 2014
This year’s guide comes on the heels of a mixed year for mutual funds and mutual fund investors.
Domestic equity funds enjoyed a great year both in terms of performance and infl ows. Bond funds were largely down. Global stock funds had a mixed year.
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In this article
- How to Use This Guide
- Which Funds Were Included
- A Key to Terms and Statistics
- Performance Tables
- More on Mutual Funds
- Category & Style Definitions
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There were also notable underlying events and trends that are not so apparent on the surface. Several notable funds closed their doors to new investors, including Sequoia (SEQUX), Yacktman (YACKX), T. Rowe Price New Horizons (PRNHX) and Buffalo Emerging Opportunities (BUFOX). Vanguard Wellington (VWELX) stopped accepting new accounts from financial advisers and institutional clients. Investors put more money into domestic equity funds than they took out for the first time since at least 2007.
A calendar-year shift helped both active and passive stock fund managers. Five-year annualized performance numbers jumped simply because 2008 figures were replaced by 2013 figures. This had a dramatic impact. Consider the Vanguard 500 Index fund (VFINX). In last year’s guide, the five-year annualized return was 1.5%. In this year’s guide, the five-year annualized performance is 17.8%. The 2008 loss of 37.1%, which was factored into last year’s five-year performance calculation, was replaced by the 2013 gain of 32.1% factored into this year’s calculation.
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