#1 – Growth Equity (VGEQX)
| Turner Investment Partners ran Growth Equity (VGEQX) until 2009, and their high-turnover earnings momentum strategy was bad news for shareholders. The fund plummeted to a terrifying depth of -69.2% in the bear market of 2007-2009, and in a rolling returns comparison with its benchmark, the Russell 1000 Growth Index, it lagged on average and hit lower lows at its worst.
But all of that is water under the bridge. This is a new fund now, under the guidance of two management teams, Bailie Gifford and Jennison Associates and in my eyes, bears watching, but not investing in just yet. 2009 was good, but nothing to write home about given the competitive performance of funds like Growth Index (VIGRX). |
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