Mass redemptions are very unlikely. Pilgrim will be able to ride
his past record for quite a while.
Let's look back to January 1, 1992, and check out some mutual
fund performance at the time. The return of PBHG Growth over
the past five years, annualized, is 16.2%. (For comparison,
Vanguard Index 500 is 14.9%, and Mutual Shares is 11.8%.)
On the other hand, Berger 100, another small-cap aggressive
growth fund, is up 25.5%. Guess which fund investors poured
money into?
The results over the next five years (to Jan 1 '97):
PBHG Growth, 26.6%; Mutual Shares, 19.1%; Index 500, 15.1%;
and Berger 100, 11.1%.
Today, Berger 100 has $1.9 billion in assets. |
