Posted by: gowrisivaprasad | January 16, 2008

Irony of Top Performing US Mutual Funds

I was looking over the list of top performing mutual funds in the US. The list from Yahoo Finance is here.

The three relevant charts are reproduced here:

Top Performers – 1 Year

Fund Name Symbol Return
AIM China I IACFX 107.93%
Direxion Latin America Bull 2X Inv DXZLX 107.33%
AIM China A AACFX 107.00%
AIM China C CACFX 105.54%
AIM China B ABCFX 105.53%
Nationwide China Opportunities Instl Svc GOPSX 100.74%
Nationwide China Opportunities Instl GOPIX 100.68%
Nationwide China Opportunities A GOPAX 100.27%
Nationwide China Opportunities R GOPRX 99.64%
Nationwide China Opportunities C GOPCX 98.81%
Top Performers – 5 Year

Fund Name Symbol Ann. Ret.
BlackRock Latin America I MALTX 52.51%
BlackRock Latin America A MDLTX 52.12%
T. Rowe Price Latin America PRLAX 51.30%
BlackRock Latin America C MCLTX 50.95%
BlackRock Latin America B MBLTX 50.94%
Fidelity Latin America FLATX 50.43%
Eaton Vance Greater India A ETGIX 50.32%
Eaton Vance Greater India B EMGIX 49.83%
Fidelity Advisor Latin America I FLNIX 49.74%
Fidelity Advisor Latin America A FLTAX 49.27%
Top Performers – 3 Year

Fund Name Symbol Ann. Ret.
T. Rowe Price Latin America PRLAX 57.31%
BlackRock Latin America I MALTX 53.80%
BlackRock Latin America A MDLTX 53.42%
BlackRock Latin America C MCLTX 52.27%
BlackRock Latin America B MBLTX 52.26%
ING Russia A LETRX 52.03%
Fidelity Latin America FLATX 51.23%
Fidelity Advisor Latin America I FLNIX 50.65%
Fidelity Advisor Latin America A FLTAX 50.24%
DWS Latin America Equity S SLAFX 50.02%

It is very interesting to note that 90% of all top 1 yr performers are investing in China, and 90% of the top 3 year performers invest in Latin America, and similar trend continues for the top 5 year performances (with a couple of India based funds thrown in).

There is not even a single fund in the lists that is based on investments in US companies! How ironic is that?

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