Sep
22
This Year, Mutual Funds Should Have Bought the Stocks They Hated
ByStocks favored by mutual funds have gone nowhere this year.
Photographer: Michael Nagle/Bloomberg
Mutual-fund hotels have roaches.
In a note to clients, Goldman Sachs Group Inc. Chief U.S. Equity Strategist David Kostin chronicles the “challenged” performance of a group of mutual funds that have a cumulative $1.5 trillion in assets under management.
While the S&P 500 is up almost 6 percent in 2016, Goldman’s index of the stocks most favored by mutual funds is flat year-to-date. Basket constituents include three of the ‘FANG’ stocks — Facebook Inc., Amazon.com Inc., and Alphabet Inc. (Google) — as well as companies like Visa Inc., JPMorgan Chase & Co., and Salesforce.com Inc…
This Year, Mutual Funds Should Have Bought the Stocks They Hated
