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<a href="http://www.accessmylibrary.com/article-1G1-105997824/gains-were-rare-stock.html" title="Facts and information about Gains Were Rare For Stock Fund Shareholders In 2002 Glittering Gold Up 62% Real estate, bear funds and bonds also climbed, but S&P 500 fell again.(A)(INVESTMENT TRENDS)">Gains Were Rare For Stock Fund Shareholders In 2002 Glittering Gold Up 62% Real estate, bear funds and bonds also climbed, but S&P 500 fell again.(A)(INVESTMENT TRENDS)</a>
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Gains Were Rare For Stock Fund Shareholders In 2002 Glittering Gold Up 62% Real estate, bear funds and bonds also climbed, but S&P 500 fell again.(A)(INVESTMENT TRENDS)
Byline: DAN MOREAU
There was one conclusion to mutual fund investing in 2002: more red ink for most investors.
"It was a bad mixture of scandal, war fear, the economy and corporate profits," said Jack Cunningham, manager of $883 million Salomon Brothers Investors Value Fund.
Not everything was bad. Gold funds soared almost 62% on average through Dec. 26, says Lipper Inc. Real estate funds boasted yields of 7% and turned in the best nongold sector performance, up 3.4%.
Prudent Bear Fund, as is its style, bet against the market, selling short. It gave investors a 64% return.
As they typically do in bear markets, value funds beat growth funds. Small- and mid-cap funds beat large-cap funds.
The average large-cap growth fund fell more than 27.7%. Mid-cap growth funds lost 27.3%. Small-cap growth funds fell the hardest, dropping 29%.
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