The Best and Worst Investments of 2013

By Ben Steverman - 2013-12-06T18:41:13Z

Photograph by Rafe Swan/Getty Images 

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Best Equity Mutual Fund

Fidelity Select Biotechnology Portfolio


FBIOX has stakes in 133 biotech companies. Its largest holding is Gilead Sciences (GILD), which doubled in the first 11 months of the year as it reported successful trials of new drugs and increased sales. One force driving biotech stocks, according to Bloomberg Industries, is acquisition activity by pharmaceutical companies eager for new drug pipelines. Analysts estimate mature U.S. biotech companies will boost sales 18 percent and earnings 25 percent in 2014. 

Of 1,392 U.S.-based equity mutual funds with assets of $500 million or more. Excluded are closed-end funds and those that rely on leverage.