In almost a photo-finish for the second consecutive year, mutual fund manager Bill Miller has extended his streak of outperforming the S&P500 for 15 years, according to Reuters. Miller, who has managed the Legg Mason Value Trust from the start, came in at 5.32% vs. the S&P500’s 4.91%. Over the past 15 years, he’s outperformed the index 16.44% to 11.53%. Bloomberg News reports that an investment in Google early last year help Miller keep his streak alive. Miller became the sole manager of the trust in November 1990, after co-managing it for eight years with Ernest Kiehne.
Meanwhile, Miller, who is also CEO of Legg Mason Capital Management and Legg Mason Funds Management, is stepping down as co-manager of the Legg Mason Special Investment Trust mutual fund. His co-manager, Samuel Peters, will take over full responsibility for the special investment trust.