Tags: Miller | mutual | fund | return

WSJ: Bill Miller on Top of Mutual Fund World Again

Friday, 12 Jul 2013 08:05 AM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Mutual fund manager Bill Miller, who beat the Standard & Poor's 500 Index for a record 15 consecutive years before stumbling in the mid-2000s, is thriving again.

For the third straight quarter, the Legg Mason Opportunity Trust he co-manages topped The Wall Street Journal's list of diversified U.S.-stock mutual funds with more than $50 million in assets and at least a three-year record.

The $1.3 billion fund registered a total return of 8.7 percent for the second quarter, 31.6 percent for the first half of the year and 55.1 percent for the 12 months through June. The S&P 500 returned 13.8 percent in the first half of 2013.

Editor’s Note:
Put the World’s Top Financial Minds to Work for You


Miller and co-manager Samantha McLemore have thrived over the past year purchasing on the cheap stocks of companies the market views as troubled, The Journal reports.

As the market's take on these companies turns positive, "the gains come as they move to where they should have been, based on those fundamentals," Miller told the paper.

Two examples are Best Buy, which returned 131 percent in the first six months of the year, and Netflix, which returned 128 percent.

Some other star fund managers have suffered setbacks this year.

Bill Gross' Pimco Total Return Fund fell 3.7 percent in the second quarter and 3.2 percent for the first half of the year. And hedge fund legend John Paulson's PFR Gold Fund plunged 65 percent in the first six months of the year, according to Bloomberg.

Editor’s Note: Put the World’s Top Financial Minds to Work for You

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved