Lipper’s Mutual Fund Review (through March 31, 2010) proved once again that ‘Value’ prevails over the long-term. Here are the numbers by broad fund categories as reported by Lipper:
Fund Type | Q1 - 2010 | 1 Year | 5 Years * | 10 Years* | |
Large –Cap Core | 4.94% | 48.45% | 1.85% | -0.13% | |
Large-Cap Growth | 4.20% | 46.16% | 2.64% | -3.11% | |
Large-Cap Value | 5.79% | 49.90% | 0.93% | 2.77% | |
Mid-Cap Core | 7.85% | 62.22% | 3.36% | 3.46% | |
Mid-Cap Growth | 7.05% | 56.57% | 3.73% | -0.65% | |
Mid-Cap Value | 8.29% | 64.92% | 3.43% | 7.26% | |
Multi-Cap Core | 5.39% | 52.56% | 2.33% | 1.70% | |
Multi-Cap Growth | 4.88% | 52.07% | 3.66% | -2.77% | |
Multi-Cap Value | 6.43% | 56.02% | 1.12% | 3.81% | |
Small-Cap Core | 8.03% | 63.07% | 3.03% | 6.14% | |
Small-Cap Growth | 7.32% | 59.33% | 2.78% | -0.78% | |
Small-Cap Value | 9.48% | 72.58% | 3.14% | 8.79% | |
Equity Income | 4.69% | 46.52% | 2.23% | 3.26% | |
Specialty Diversified | 3.37% | 40.73% | 0.56% | 2.43% | |
S&P 500 Index Obj. | 5.34% | 49.03% | 1.41% | -1.13% | |
Long/Short Equity | 1.83% | 31.45% | 2.43% | 5.86% | |
Market Neutral | 0.72% | 8.09% | 1.87% | 2.38% | |
Short Bias | -8.86% | -46.94% | -10.41% | -6.82% | |
* Annualized Data | All returns as of 3/31/2010 | ||||
Remarkably, the ‘short bias’ funds showed negative returns for every time period despite the horrible decade from 2000 – 2009.
‘Value’ funds outperformed in almost every measured time period. Knowing that, why fight the headwinds by going in any other direction over the long haul?
Dr. Paul Price
www.BeatingBuffett.com
