Wander through a cemetery and you’ll frequently see phrases like “forever in our hearts” or “You will always be remembered.”
The cemetery of mutual funds is devoid of such loving reminiscences, but if you look at the latest monuments — to funds that passed in 2021 — you will see a number of recurring descriptions, most commonly words like “value,” “tactical,” “advantaged” and “Asia.”
Every year, a few hundred exchange-traded funds (ETFs) and traditional mutual funds are killed off by management that has grown disinterested, disenchanted, dispassionate, disturbed by market conditions or unable to give a damn. No one mourns their loss.
Funds that took the big dirt nap this year are no exception, a mix of the uninspired, goofy, mediocre, marketing failures and investment errors.
Still, some funds created legacies or lessons that investors should remember. With that in mind — and in the spirit of year-end retrospectives about famous people who died in the past 12 months — let’s tell a few tales of funds that were sent off to the mutual fund crypt in 2021.
Among funds that shuffled off their mortal coil this year:
- The CAN SLIM Tactical Growth Fund (ticker CANGX) was based on the seven characteristics of great stocks defined and described by William O’Neill, the founder of Investor’s Business Daily.