Absolute return mutual funds are raking in cash even as equity funds bleed. Reuters
' Ross Kerber reports
on the popularity of the booming absolute return class, which brought in $4.2 billion from January to May (compared to $394 million during the same period last year).
"A reason they're so powerful now is that investors have woken up and said, 'There is risk in investing,'" said Morningstar
's Scott Burns
. "That's why the marketing message is resonating so well."
Kerber specifically cites the Eaton Vance Global Macro Absolute Return Fund
and Putnam Absolute Return 100
. Eaton Vance's Dan Cataldo
's Jeff Tjorneho
, Putnam chief Bob Reynolds
and Vanguard chief investment officer Gus Sauter
all weigh in.
Neil Anderson, Managing Editor
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