Syre Crowns the Mutual Fund Star of the Year
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Monday, December 27, 2010

Syre Crowns the Mutual Fund Star of the Year

Thomas Wetherald, portfolio manager of the MFS New Discovery fund, gets a nod from the Boston Globe columnist Steven Syre for his performance this year in line with The Federal Reserve's decision to start pumping capital into the economy during the summer.

Wetherald’s fund is reportedly up 36.6 percent year-to-date and 62 percent in 2009. But more importantly, Wetherald’s fund, which had gained about two percent for the year through August, began its ascension that month as the market started to anticipate Fed action.

“When that inflection point hit, the Fed certainly helped,’’ Wetherald told the pub. “But on top of that, so many of our favorite [stocks] had gotten down to such low valuations."

Wetherald’s fund joins a list of past recipients that includes Will Danoff of Fidelity Contrafund, Joel Tillinghast of Fidelity Low Priced Stock, two-time winner Ken Heebner of CGM Focus, Dan Fuss of the Loomis Sayles Bond fund, and Dan Rice of Blackrock Energy & Resources.

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