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The Legg Mason Opportunity fund, a value fund also managed by Mr. Miller, was down 29percentt.
Monument plans to start a growth fund, a value fund and an S.& P. 500 index fund, and there could be a bond fund in the future.
Some savers have a dozen: a growth fund, a value fund, a rising dividend this, a strategic opportunity that.
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Kent Simons, manager of the $2 billion Neuberger Berman Focus fund, a value-oriented offering that nonetheless rose 12.48 percent in the first quarter, said the recent turn toward more reasonably priced stocks was inevitable, given how expensive many technology companies had become.
For example, based on decades of returns, a small-cap fund should outperform a large-cap fund, just as a value fund should beat a growth fund.
A day later, the fund reported a value of 97 cents a share, becoming only the second money fund ever to "break the buck".
If a fund's investors reinvest dividends automatically, as many do, they could have a tax bill from a fund with a value that has been cut in half.
One thing to be watchful for, however, is that your value fund is really a value fund.
Most companies give employees an annual update on the progress of their fund, a fund value (if it's a stockmarket-based money purchase scheme) and a projection of the income you are likely to receive in retirement.
In every 401k, there is an opportunity to place money in a Money Market fund, a 'stable value' fund that pays only a modest rate of interest but typically never loses money.
CalPERS currently holds stock in about 30 coal companies, mostly in index funds, with a value of about $167m, according to legislative information on the bill.
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