Standard and Poor’s
Mutual funds underperform in 2011Posted by RJ and Makay on Jan 05, 2012 |
>> Read More RJ & Makay Blog Posts
Mutual fund performance in 2011 brought some surprising results, according to Standard and Poor’s and Morningstar analysts. Despite the positive outlook at the beginning of the year in emerging markets such as China, India and Brazil, portfolios heavily weighted in emerging markets had some of the largest losses for the year. By contrast, a concentrated fund with just 22 holdings and no new stocks added for the past 75 years was a top performer.
Standard and Poor’s (S&P) warned 15 Eurozone nations, including Germany and France, that they could be subject to credit downgrades should an upcoming meeting of Eurozone leaders fail to come up with an acceptable course of action to resolve the Eurozone debt crisis. European Union (EU) leaders are scheduled to meet this Thursday and Friday in Brussels to discuss strategies to contain the crisis.
Standard & Poor’s announced Monday that its president, Deven Sharma, will be leaving the credit rating agency at the end of the year. He will step down on September 12 but remain with parent company McGraw-Hill in an advisory capacity through the end of the year as the company explores a separation of its education publishing business. Douglas Peterson, chief operating officer of Citigroup Inc.’s Citibank unit, will succeed Mr. Sharma, S&P announced.
