WHAT ARE WE LOOKING FOR?
More answers to the question of whether mutual funds with the hottest recent performance
numbers are at risk of falling hardest when the stock market tanks.
As we did last week, we started with the 100 funds in all categories that produced the highest
returns over the 12 months to July 31, and then scrutinized their
results for the 30 days to Aug. 20. Whereas last week we topped our list with the biggest 30-day
losers, in this go-around we focus on the high fliers of the past year that were least damaged in the past month.
SO WHAT DID WE TURN UP?
This week's stock market gains notwithstanding, the past month has been harrowing for the stock markets; so not a single of the past year's best-performing funds came through without losses that most investors would describe as significant. That said, some funds still offered an attractive risk-
reward profile. China funds are a good example, especially Excel China. This fund essentially
doubled its value over the past year, and its 30-day decline is 8.3 per cent. A loss of that size stings a bit less when a fund has recently notched a triple-digit gain.
There's a bit of irony in the
performance of China funds here. Back in March, stock markets around the world briefly and sharply pulled back in a selloff that began in the hot-performing Chinese market. After the latest bout of stock market turbulence, it turns out that China funds have been among the most resilient in the club of mutual funds with the biggest returns in the past year.
|Net assets||Last MER||1-yr||30-day|
|Fund name as of July 2007||date||MER||Asset class as of July 2007||(Aug 20)|
|Dynamic Power American Growth||196,321||12/29/2006||4.34||U.S. Equity||32.14||-6.04|
|Investors Global Sci & Tech-A||249,927||7/31/2007||2.73||Science and Technology Equity||31.36||-6.60|
|AGF Aggressive Growth||320,223||7/31/2007||2.51||Global Small/Mid Cap Equity||27.78||-6.77|
|Trimark Canadian Small Companies||264,195||7/31/2007||2.49||Cdn. Focused Small/Mid Cap Eq.||27.24||-6.82|
|AGF Global Technology Class||10,516||7/31/2007||3.50||Science and Technology Equity||28.72||-7.09|
|Dynamic Power Amer Currency Neutral||19,479||12/29/2006||4.18||U.S. Equity||36.84||-7.23|
|Fidelity China A||28,204||3/30/2007||2.82||Miscellaneous||75.21||-7.36|
|Renaissance China Plus||160,527||2/28/2007||3.23||Miscellaneous||67.81||-7.57|
|Fidelity Focus Telecommunications-B||11,198||3/30/2007||2.67||Science and Technology Equity||32.03||-8.36|
|AGF China Focus Class||332,002||7/31/2007||2.96||Miscellaneous||67.96||-8.52|
|Trimark Glo Mid-Cap Equ Private Pl||95,098||7/31/2007||2.10||Global Small/Mid Cap Equity||27.55||-8.66|
|Trimark Global Endeavour||1,913,339||7/31/2007||2.39||Global Small/Mid Cap Equity||28.71||-8.71|
|TD Entertainment & Communications||168,926||7/31/2007||2.78||Global Equity||35.53||-8.77|
|National Bank Quebec Growth||22,546||7/31/2007||2.39||Canadian Small or Mid Cap Equity||47.12||-8.80|
|PH&N Vintage-A||75,258||7/31/2007||1.86||Canadian Focused Equity||26.90||-8.81|
|Fidelity AsiaStar A||104,333||3/30/2007||2.82||Asia Pacific ex-Japan Equity||27.70||-8.98|
|BMO Greater China Class||132,267||7/31/2007||2.84||Miscellaneous||80.21||-9.02|
|iShares CDN Tech Sector Index||88,480||7/31/2007||0.55||Science and Technology Equity||55.05||-9.03|
|IA Clarington Canadian Leaders||7/31/2007||2.40||Canadian Equity||29.63||-9.50|
|AGF Germany Class||15,055||7/31/2007||3.19||Miscellaneous||29.61||-10.24|
|Dynamic Power Small Cap||213,286||12/29/2006||2.90||Cdn. Focused Small/Mid Cap Eq.||33.67||-10.38|
|MIX China Opportunities Class||82,411||7/29/2005||2.88||Miscellaneous||58.59||-10.39|
|TD Asian Growth||172,030||7/31/2007||2.78||Asia Pacific ex-Japan Equity||50.05||-10.52|
|Tmpltn Global Smaller Co||2,169,886||7/31/2007||2.73||Global Small/Mid Cap Equity||30.30||-10.77|
|HSBC Chinese Equity-I||203,840||7/31/2007||2.58||Miscellaneous||73.11||-10.82|
|Acuity Clean Environment Equity||92,891||1/31/2007||2.85||Cdn. Focused Small/Mid Cap Eq.||26.90||-11.06|
|IA Clarington Canadian Growth||55,385||7/31/2007||2.48||Canadian Equity||26.71||-11.14|
|CIBC Emerging Markets Index||117,332||12/29/2006||1.28||Emerging Markets Equity||37.15||-11.27|
|CIBC Emerging Economies||93,093||12/29/2006||2.94||Emerging Markets Equity||32.59||-11.32|
|Mackenzie Univ Wld Resource Class||115,041||6/30/2006||2.64||Natural Resources Equity||31.68||-11.35|
Use Globefund.com's 15-year Fund Reviews to see if a fund has a history of going from boom to bust when the markets take a turn for the worse. Also, you can view last week's screen of high fliers that tumbled hardest recently on Globeandmail.com (look
under columnists, and then under my name).
© 2007 The Globe and Mail. All rights reserved.
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