(February 28 – 17:20 ET) – The four worst-performing fund families in the United States in February, according to data from Bloomberg, can all boast Canadian connections.

In a month which saw the S&P 500 index drop by about 9.5%, and the Nasdaq composite index fall 22%, Bloomberg says that Janus Capital Corp., “had the worst-performing stock funds of the 10 biggest U.S. fund groups the past month”. Janus equity funds lost an average 13.5% in February. The Janus funds only recently came to Canada, with Investors Group launching a couple of its funds here, after a spell as the best-performing and hottest selling funds in the U.S.

The second-worst firm during February was AIM Management Group Inc., which saw its funds down an average 10.1% in February. AIM is part of the Amvescap plc family, which does business in Canada under both the AIM and Trimark brands.

Boston’s Putnam Investments came next, losing an average 8.5% in its funds. Last year Putnam bought a stake in Toronto’s Sceptre Investment Counsel, as part of a strategic alliance between the firms.

Putnam just nosed out Boston-based rival MFS Investment Management, whose funds dropped an average 8.3% in the month. MFS is owned by Sun Life Financial Services.
-IE Staff