The Investor's Mutual Fund Guide, published by Investment Company Data Inc., ranks the Wasatch Growth Fund, one of the funds managed by Wasatch Advisors Funds Inc., 68 S. Main, as the best performing mutual fund in the United States for February.
Shares values in the fund increased 9.7 percent in February, said Roy S. Jespersen, managing director of mutual funds for Wasatch Advisors. The guide monitors the performance of more than 2,500 mutual funds.The Wasatch Aggressive Equity Fund was ranked the fourth best performer for February. The rest of the top five were the Fidelity Select/Biotech Fund, the Fidelity Select/Energy Services Fund and the Fidelity Select/Computer Fund.
Attempting to explain the company's success, Jespersen said, "Our investment style in equities is unique, and we believe that it is one that will dominate the financial markets as we move into the '90s. Quality growth companies that serve as the moving force of our free enterprise system have begun to reassert their market leadership."
Jespersen said Wasatch does 90 percent of its research in-house and officials believe being away from the financial centers helps give them perspective.