BUSINESS

Latest addition : 20 January 2009.

When to dump an underperforming fund

If you’ve been watching your mutual funds go down, down, down lately, your initial reaction may be to sell.

Cutting your losses may be the right answer in some situations, but financial advisers caution consumers that impulsively dumping an underperforming fund may be a costly mistake in the long run.

"Investors must do their homework in order to make informed decisions regarding the liquidation of an investment fund," says Joan Moffitt, CPA, senior tax manager at Weiser LLP in Edison, N.J. "Only then can they leave their emotions out of the decision-making process."

While it can be discouraging to watch an investment drop, many experts agree that taking a step back and rationally evaluating the holding is likely to yield better results than a hurried sale.

"There are a lot of subjective variables to consider in addition to all the quantitative data," says Gordon Peterson, chief executive officer of International Research and Asset Management in Dallas. So before you sell, research all the data.

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