NU Online News Service, Oct. 19, 2004, 3:05 p.m. EDT
Could this be the end of the bull market?[@@]
With the average U.S. equity mutual fund up a little more than 1% this year through September, fund performance looks uneasily familiar, says Standard and Poor’s Investment Services, New York.
Analysts at the investment research and rating firm warily point out that the current pattern of fund returns match what typically can be seen when an upswing is nearing its end.
Specifically, large-cap value funds held up better in the 3rd quarter amid general declines of domestic equity funds. That kind of performance echoes what is often seen in the latter stages of a bull market, S&P says.