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Article: Week In Review.(Week In Review)
- Article from:
- Money Management Executive
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Editorial Staff
Average U.S. Stock Fund Tanks 38% in 2008
The average U.S. stock fund plummeted 37.9% in 2008, slightly worse than the Dow Jones Industrial Average's 33.8% loss. It was the Dow's worst year since 1931, when it declined by more than 50%. Meanwhile, the Standard & Poor's 500 Index fell 37%, its worst performance since 1937.
The best-performing specialty category was healthcare funds, which fell 23.1% in 2008, and the worst-performing was communications funds, down 49.9%. Even conservative allocation funds declined by an average of 18.1%, as did target-date funds, which gave up 22.3%. Regardless of the fund category, the ...