The S&P returned +4.87% in Q1.
So which mutual fund managers cost their clients the most for investing with them instead of an index fund?
It’s time to check out the 15 Worst Mutual Fund Managers of Q1!
A quick note: There are four repeat offenders on our list.
The #1 worst mutual fund manager for 2009 was Barry Ziskin (Z Seven). And Ziskin retains the title in Q1!
Rajendra Prasad (Prasad Growth), Connie Luecke and Randle Smith (Virtus), and Morgan Stanley‘s Michael Nolan, Helen Krause, and Arthur Robb are also on the list again.
Now, usually, several of the worst managers manage to make money, even while they’re costing their clients boatloads by underperforming. But this quarter, every Worst Fund Manager lost money!
Now of course, this is just one quarter’s performance, and it’s the long-term record that matters. But when short-term returns look good, fund managers tout the hell out of them. So we think it’s fair to do the opposite!
15. Brendan Baker, Nigel May, and Andrew Porter
Q1 return: -0.25%
Fund: Laudus Mondrian Global Equity Instl (LGEVX)
Size: $4,000,000
Top holding: GlaxoSmithKline PLC, Total SA, BP Plc, Novartis AG, Chevron Corporation
Source: Morningstar
14. David E. Marcus and Jae Chung
Q1 return: -0.60%
Fund: Evermore Global Value A (EVGBX)
Size: $4,000,000
Top holdings: NA
Source: Morningstar
13. Bob Becker and Benjamin Morton
Q1 return: -0.71%
Fund: Cohen & Steers Global Infrastructure A (CSUAX)
Size: $94,000,000
Top holdings: American Tower Corporation A, Vinci, East Japan Railway Co., Atlantia, Crown Castle International Corporation
Source: Morningstar
12. James Harries
Q1 return: -0.72%
Fund: Dreyfus Global Equity Income A (DEQAX)
Size: $10,000,000
Top holdings: Reynolds American, Inc., Vodafone Group PLC, Zurich Financial Services AG, Deutsche Telekom AG, Deutsche Post AG
Source: Morningstar
11. Jonathan Compton and Ian McCallum
Q1 return: -0.87%
Fund: Touchstone Global Equity A (TGEAX)
Size: $4,000,000
Top holdings: Touchstone Institutional Money Market, Royal KPN N.V., Goldcorp, Inc., Syngenta AG, Basel, Agnico-Eagle Mines
Source: Morningstar
10. John Derrick, Frank Holmes, and Romeo Dator
John Derrick and Romeo Dator
Q1 return: -0.98%
Fund: U.S. Global Investors Global MegaTrends (MEGAX)
Size: $26,000,000
Top holdings: Profunds Swap Security Gs
Source: Morningstar
9. Michael McGowan, Aaron Visse, and Jim O’Donnell
Aaron Visse
Q1 return: -1.55%
Fund: Forward Global Infrastructure A (KGIAX)
Size: $135,000,000
Top holdings: Williams Companies, Inc., TransCanada Corporation, E.ON Aktiengesellschaft, Atlantia, Vinci
Source: Morningstar
8. Connie Luecke and Randle Smith
Q1 return: -13.59%
Fund: Virtus Global Infrastructure A (PGUAX)
Size: $88,000,000
Top holdings: AT&T, Inc., Enbridge, Inc., TransCanada Corporation, Vodafone Group PLC ADR, Williams Companies, Inc.
Source: Morningstar
7. Charles Edwardes-Ker and Thomas George
Source: http://network.nationalpost.com/NP/blogs/tradingdesk/archive/2008/01/11/manager-picks-charles-edwardes-ker-and-thomas-george.aspx
Q1 return: -2.59%
Fund: TDAM Global Sustainability Instl (TDGFX)
Size: $12,000,000
Top holdings: Procter & Gamble Company, HSBC Holdings PLC, Rio Tinto PLC, East Japan Railway Co., International Business Machines Corp
Source: Morningstar
6. Michael Nolan, Helen Krause, and Arthur Robb
Arthur Robb and Helen Krause
Q1 return: -2.72%
Fund: Morgan Stanley Global Infrastructure B (UTLBX)
Size: $396,000,000
Top holdings: Atlantia, Williams Companies, Inc., GDF Suez, Abertis Infraestructuras, S.A., Enbridge, Inc.
Source: Morningstar
5. Nicolas Huber
Q1 return: -3.60%
Fund: DWS Climate Change A (WRMAX)
Size: $74,000,000
Top holdings: East Japan Railway Co., Quanta Services, Inc., Vestas Wind Systems A/S, Calgon Carbon Corporation, Itron Inc.
Source: Morningstar
4. Eric Bjorgen, Steven Leuthold, and David Kurzman
Q1 return: -4.43%
Fund: Leuthold Global Clean Tech Instl (LGCIX)
Size: $26,000,000
Top holdings: China Valves Technology Inc, ADA-ES, Inc., Exide Technologies, Inc., Meyer Burger Technology AG, SMA Solar Technology AG
Source: Morningstar
3. David Schoenwald and Maurice Schoenwald
David Schoenwald
Q1 return: -6.93%
Fund: New Alternatives (NALFX)
Size: $267,000,000
Top holdings: Schneider Electric, South Jersey Industries, American Water Works Co Inc, Aqua America, Inc., Abengoa, S.A.
Source: Morningstar
2. Rajendra Prasad
Rajendra Prasad
Q1 return: -13.60%
Fund: Prasad Growth (PRGRX)
Size: < $1,000,000
Top holdings: Direxion Daily Small Cap Bear 3X Shares, Direxion Daily Emrg Mkts Bear 3X Shares, China Natural Resources, Inc., Kodiak Oil & Gas Corp., STEC, Inc.
(Prasad was also #2 worst MF manager for 2009.)
Source: Morningstar
1. Barry Ziskin
Barry Ziskin
Q1 return: -15.85%
Fund: Z Seven (ZSEVX)
Size: $3,000,000
Top holdings: Rathbone Brothers PLC, PetMed Express, Inc., Cognizant Technology Solutions Corporation A, Chocoladefabriken Lindt & Spruengli Ag, Kilchberg, RPS Group PLC
(Ziskin was also #1 worst MF manager in 2009.)
Source: Morningstar
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The 15 Worst Mutual Fund Managers Of 2009
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