A number of large, well-known five-star growth stock funds have fallen from grace because of the recent market turmoil, without even factoring in July's bloodbath. The funds are: Alliance Growth B, Brandywine Blue, Crabbe Huson Equity, Fidelity Advisor Growth Opportunities A, Fidelity Magellan, Harbor Capital Appreciation and Third Avenue Value.
The mutual funds still have overall four-star ratings, but no longer merit the highest rating within the growth fund objective of Morningstar Inc., a mutual fund researcher in Chicago.
At Pensions & Investments' request, Morningstar looked at about 400 growth stock funds with track records of at least three years and found seven funds that had scored five stars in 10 of the 12 months of 1995, a strong year for the market. Those funds were reclassified as four stars as of June 30.
