|Expense Ratio (net)||2.31%|
|Morningstar Risk Rating||★★★★★|
|Last Cap Gain||N/A|
|Inception Date||Dec 30, 1998|
|Average for Category||N/A|
Major U.S. growth mutual funds have been among the largest sellers of Apple Inc shares over the past six months, fueling speculation that the company's days of supercharged growth have come to an end. Amid concerns that iPhone sales may be set to drop, the $77.3 billion American Funds Capital World Growth & Income Fund has sold all of its 1.7 million Apple shares since the end of June, according to Lipper data. The $9.3 billion Hartford Capital Appreciation Fund sold 1.4 million shares over the same period, reducing its position by 91 percent.
Last July, when Federal Reserve Chair Janet Yellen spurred a sell-off in healthcare stocks by saying that valuations in shares of biotech companies looked "stretched," portfolio manager Graham Tanaka saw an opportunity. After a year-long buying spree, he now has more than a quarter of his $17 million Tanaka Growth fund portfolio in healthcare companies such as Gilead Sciences Inc, up from just 5 percent at the start of last year. In the eleven months since Yellen's warning, other fund managers have benefitted by shaking off concerns about high valuations and increasing their holdings of healthcare companies.