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5 Worst Mutual Funds So Far in 2012

Gold funds really have taken a beating

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BlackRock Energy & Resources

YTD Return: -18%

The energy industry has been in bear mode for most of 2012, for both natural gas and crude oil. The slowing economy has been the main driver, and an increase of supplies isn’t helping.

These headwinds certainly have impacted the BlackRock Energy & Resources (MUTF:SSGDX) fund, which focuses on small- and mid-cap energy operators. Names like Consol Energy (NYSE:CNX) and Range Resources (NYSE:RRC) have weighed on the fund thus far.

However, SSGDX also has been dealing with another issue. Portfolio manager Dan Rice resigned in June because of allegations of conflicts of interests with a personal investment in a natural gas company. His loss could make it tougher for the fund to get back on track, at least in the short run.

Article printed from InvestorPlace Media,

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