Quarterly survey of top-performing stock managers on a 12month basis, a mere 40 wrapped up 2022 in positive territory. The average loss for the whole group, according to data provided by Morningstar Direct, was 18.2%.
To outperform in 2022 required a fund’s manager to have taken outsize positions in the energy sector—the only one of the 10 industries that make up the S& P 500 to record a gain in 2022. In fact, the magnitude of the rally in energy resulted in the sector coming within a whisker of doubling in its weight within that large-cap market index, hitting 5.23%.