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The fund performed well in the toxic markets of 2000 and 2001, investors say.
In 1999 and 2000, the Class A shares of the Real Asset fund performed spectacularly.
The fund performed better than expected, growing at a 37percentt compound annual rate of return on the original investment.
The Ariel Fund performed much better than its small-cap value peers in the first three quarters.
But analysts say the fund performed well in 2009, particularly because it was buying aggressively as the market recovered.
JP Morgan's emerging markets, Asian and Chinese investment trusts were all on the rise on Monday, while its US small company fund performed best, up by 3.7%.
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But when a fund performs poorly, the income generated will also fall.
The fact is that Population Fund performs no abortions and is working to end coerced abortion in China.
The main fund manager is usually the largest investor and remuneration depends on the fund performing profitably.
Not for nothing is Mr Swensen regarded as a private-equity genius.Why did the average fund perform so poorly?
Forbes also looks at how each fund performs in a bear market and a rising market.
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