Read in the newspaper on the 25th Feb 2009 about the Edge-Lipper Singapore Fund awards for the best in the Fund Management industry. Not a word from the reporter mentioned about the performance of these funds to avoid embarrassing the award recipients, I suspect they won for losing the least money in the different categories. 2008 was really a lousy year.
The top-performing equity funds over a 10-year period, UOB United International Growth Fund had a annualised return of only 1.19% a year! If you happen to buy into the Fund last year, I think you would have lose a bomb as well. The absolute average performance of CPFIS-included funds lose an average of 38.12% in 2008. Its better off for investor to put their money into CPF Board that guaranteed 2.5 to 4% interest rates, risk free. Why so stupid to put your money with some goondos that most likely will lose money on your behalf and still get paid?
Can't imagine how the worst have performed.
I don't trust any of these Fund managers as I am a victim too in the past investing in a few funds that never see daylight the moment I put my money down, some losing big time. Those relationship managers selling the Funds are really sweet talker, they have target to meet and their bonuses depend on how well they convinced the gullible to invest.
It's a big gamble to buy into any of these Funds or Unit Trust that give you a false sense of security, such as being managed by professionals and a diversified portfolio. I was frequently told to hold these toxic investments for long term return and some even asked me to average down as it was cheap, but they simply got cheaper until I cut my losses.
As a very disciplined futures trader that never hesitate to cut my losses, I felt really stupid in some of my investments. I am shy to admit my mistakes too especially the trust in others to manage my money including few friends that lose money big time in some business ventures.
It's really difficult to find another Warren Buffett or George Soros who have consistently make money for their investors.