(San Francisco)

Here is some good news for mutual fund investors. While many ETFs have been absolutely hammered by the selloff in FANG shares, many mutual funds have largely evaded the losses. According to Goldman, the average large cap mutual fund is underweight three out of four of the FANGs. Mutual fund managers had frequently grown uncomfortable with the FANGs’ soaring valuations, and as such, many had trimmed their exposure.

FINSUM:Some of the benefits of active management (and the downside of passives) are really exemplified in this data. A win for mutual fund investors.