>Its investment portfolio dropped 16.2%, all but erasing the 20% gains made last year<p>When pretty much all major stock indices drop by 30% this is a remarkable win. I'm impressed they it's such a small percentage of the fund that was lost in this climate.<p>Also how the hell did they make 20% last year. I guess it's true that the big funds like this are simply way ahead of what any individual could ever hope to achieve. Consistently smaller losses and bigger wins year on year.