Mark Mulholland’s mutual fund, Matthew 25 (MUTF:MXXVX), has been named the top performing fund in the U.S. diversified stock category in Bloomberg Markets annual mutual fund rankings.
Matthew 25, named after a passage in the Gospel of Matthew, produced an annualized 13.1% return over the past five years. The fund’s holdings have grown to $452 million. The fund has realized gains of 26.8% over the last three years.
The fund’s current success is a turnaround from 2008 when it plunged 40%, causing its assets to decline from $115 million to $22 million. Mulholland told Bloomberg that despite the declines, he knew that the companies he had invested in would ultimately boost the fund’s performance.
Mulholland remains optimistic about the economy, noting that corporate earnings are up while stock prices remain undervalued. He has increased his personal investment in the fund to $5.5 million this year.