Oct
05
Longleaf Loses 24% as Former Top-Ranked Fund Hurt by Energy Bets
By-
Value pool’s returns hit bottom of tally among peers
-
Veteran managers insist their investments will pay off
Longleaf’s long run of robust returns has hit a wall.
The $4.3 billion Longleaf Partner’s Fund beat the stock market for two decades by buying undervalued stocks and waiting for them to appreciate. This year the value formula has gone haywire, leading to a 24 percent loss as of Oct. 1 and making Longleaf the poorest performer of any diversified U.S. equity mutual fund with at least $1 billion in assets, according to data compiled by Bloomberg…
Longleaf Loses 24% as Former Top-Ranked Fund Hurt by Energy Bets
