US funds that beat market plunge seek recession-proof stocks

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Beating the first quarter's market crash took some extreme strategies, such as moving nearly everything to cash, or going very short. Now, fund ...

Beating the first quarter's market crash took some extreme strategies, such as moving nearly everything to cash, or going very short. Now, fund managers who prevailed during the worst start to a year for U.S. stocks are betting on recession-resilient companies to take them to the next leg.

The small-cap focused fund began 2020 with more than 92per cent of its assets in cash as the sector's valuations soared. As the market fell, Cinnamond and his co-manager began adding 21 new positions, ending the quarter with 52per cent cash. Portfolio manager Anthony Zackery said his Zevenbergen Growth fund's 1.19per cent first-quarter loss - which made it the 5th-best performer among active funds - was helped by telemedicine provider Teladoc Health Co , whose shares are up 75per cent for the year to date, and cloud communications company RingCentral Inc , which rose 21per cent.

 

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