Thursday, July 2, 2009

Bill Miller Takes Top Spot as U.S. Stock Funds Post 19% Gain

Bill Miller'sLegg Mason Opportunity Trust was the biggest-gaining U.S. stock mutual fund in the second quarter, surging 48 percent as markets responded to signs the recession could be coming to an end. Miller, 59, best known for guiding his Legg Mason Value Trust to a better record than the S&P 500 for 15 straight years. From the end of that streak in 2005 through March 31, the fund slumped 61 percent because of bets on real estate and financial stocks. Value Trust, with $4.2 billion in assets, rose 30 percent in the quarter.