Diversify & conquer: experienced management and varied investment vehicles are key to beating lackluster returns. Here are 100 funds that hit the mark.WHILE OIL PRICES SOARED FROM roughly $43 per barrel in early January January: see month. to more than $55 by midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. , the broad market hasn't has·n't Contraction of has not. hasn't has not hasn't have performed nearly as impressively, In fact, with a few exceptions, neither stock nor bond funds have taken off. So what's an investor to do? Diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. is the key. "I mix it up," says Steve v. t. 1. To pack or stow, as cargo in a ship's hold. See Steeve. Noakes, a consultant who specializes in information security in Falls Church, Virginia Falls Church is an independent city in Virginia, United States. The population was 10,377 at the 2000 census. This city is a part of the Washington Metropolitan Area. A much larger number of people reside in Greater Falls Church . "I have funds holding small-, mid- mid- pref. Middle: midbrain. , and large-cap Large-cap A stock with a high level of capitalization, usually at least $5 billion market value. large-cap 1. Of or relating to the common stock of a big corporation that has considerable retained earnings and a large amount of stocks, along with international stocks." This approach puts Noakes in a position to gain if one area of the market gets hot, and it protects him against steep losses such as those suffered by tech-heavy investors from 2000 to 2002. For the last 15 years, Noakes has invested in Fidelity Destiny Destiny goddess of destiny of mankind. [Gk. Myth.: Kravitz, 78] See : Fate II, a fund that held 111 different stocks at last report. With this fund, investors commit to monthly contributions for at least 10 years. "Investors should have a little bit of everything," says Ivory ivory, type of dentin present only in the tusks of the elephant. Ivory historically has been obtained mainly from Africa, where elephant tusks are larger than they are in Asia, the second major source, and much dead ivory was taken from remains of extinct mammoths Johnson, director of financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against at The Scarborough Scarborough, town (1991 pop. 36,665) and district, North Yorkshire, NE England, on the North Sea. The town, primarily a resort, is also an important conference and retirement center. The area was recognized at an early time for its strategic location. Group in Annapolis, Maryland “Annapolis” redirects here. For other uses, see Annapolis (disambiguation). Annapolis is a city in the United States of America with a population of 36,408 (July 2006 est.), the capital of the State of Maryland and the county seat of Anne Arundel County. . "Every asset class has its day in the sun, and you can't predict which will shine in the next six months. By filling in all the categories, you can reduce the volatility of your portfolio." Johnson says real estate mutual funds are among his most desirable holdings. The following were key trends in mutual fund performance in the first half of the year: * Domestic stock funds posted slight losses (performance was down less than 1%). Value funds topped growth funds. Mid value, small value, real estate investment trusts, corporate bonds, and emerging markets were all up more than 2%. * After natural resources, stock funds were led by two other niche categories: Latin Lat·in n. 1. a. The Indo-European language of the ancient Latins and Romans and the most important cultural language of western Europe until the end of the 17th century. b. American funds  Please see the discussion on the talk page. * On the bright side, there were no enormous losers. The worst performers were precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. funds and technology funds, both down more than 5%. * World stock funds, too, posted modest losses in the first half. Emerging markets stock funds (up 4.92%) did well. * Emerging markets bond funds did even better, up 5.28%. More traditional bond funds generally provided smaller returns to investors. Investors are hoping performances during the second half fare half fare half n → demi-tarif m a bit better. "There are no obvious answers," says Cheryl Cheryl is a female given name and can refer to: In crime:
Suppose, instead of diversifying, you put all your money into large-cap growth funds. Such funds are expected to be long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. winners but they can suffer severe losses in any given year. "If you're you're Contraction of you are. you're you are you're be down 30% one year," says Johnson, "you have to gain 43% just to get back to where you were. By spreading your investments, you reduce the risk of taking such a huge loss." For example, 2002 was the worst year in recent memory for domestic stock funds (down more than 22%), while bond and real estate funds registered gains. A diversified diversified (di·verˑ·s portfolio would have experienced losses much less than 22%. Investing regularly as Noakes has done with Fidelity Destiny II is known as dollar-cost averaging dollar-cost averaging Investment of a fixed amount of money at regular intervals, usually each month. This process results in the purchase of extra shares during market downturns and fewer shares during market upturns. , which assures you're buying when stocks are low as well as when they're they're Contraction of they are. they're be high. Such long-term perseverance Perseverance See also Determination. Ainsworth redid dictionary manuscript burnt in fire. [Br. Hist.: Brewer Handbook, 752] Call of the Wild, The dogs trail steadfastly through Alaska’s tundra. [Am. Lit. pays off: Fidelity Destiny II, for example, has returned nearly 13% per year for the last 15 years. With such results, an initial $10,000 investment would have grown to more than $60,000. Make combination plans. Historically, investors seeking double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. returns have found them in stock funds rather than bond funds. Nevertheless, a truly diversified portfolio will include some bond funds, which held up well while stocks plummeted from 2000 to 2002. For instance, Bernee and Hillary Dunson of Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. , both 40, hold a mix of investments that includes individual stocks and real estate. "I also have a retirement plan at my dental practice Noun 1. dental practice - the practice of dentistry practice - the exercise of a profession; "the practice of the law"; "I took over his practice when he retired" ," says Bernee. "There, I invest in mutual funds, which my wife and I select." Hillary says the retirement plan's largest holding is Buffalo High-Yield Adj. 1. high-yield - yielding a large amount of agricultural or industrial production fruitful - productive or conducive to producing in abundance; "be fruitful and multiply" Fund. This fund, which primarily invests in "high-yield" (low-rated, or junk junk Classic Chinese sailing vessel of ancient unknown origin, still in wide use. High-sterned, with a projecting bow, the junk carries up to five masts on which are set square sails consisting of panels of linen or matting flattened by bamboo strips. ) bonds, delivered positive annual returns throughout the recent bear market for stocks and shows an annual return of about 9% for the last five years. Portfolio diversification Portfolio diversification Investing in different asset classes and in securities of many issuers in an attempt to reduce overall investment risk and to avoid damaging a portfolio's performance by the poor performance of a single security, industry, (or country). also affects how the Dunsons invest for their two young children, who are literally model youngsters. The children's photos are used to promote Bernee's dental practice. Not only does this provide a nice tax break (deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). payments for the dental practice and tax-free income tax-free income The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income. to the children), it also gives the younger Dunsons money to invest. "The money has been invested in Roth IRAs Roth IRA An individual retirement plan that bears many similarities to the Traditional IRA. Contributions are never deductible, and qualified distributions are tax-free. A qualified distribution is one that is taken at least five years after the taxpayer established his/her first ," says Lee Baker of Apex Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in Tucker, Georgia Tucker is a census-designated place located mainly in DeKalb County, Georgia, with a small portion in Gwinnett County, Georgia. The population was 26,532 at the 2000 census. , who serves as the Dunsons' financial planner Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. . In 2005, up to $4,000 worth of earned income Sources of money derived from the labor, professional service, or entrepreneurship of an individual taxpayer as opposed to funds generated by investments, dividends, and interest. can be contributed by each child. Investment earnings are not taxed and, after age 59 1/2, withdrawals will be tax-free tax-free adj. Not subject to taxation; tax-exempt. tax-free Adjective not needing to have tax paid on it: a tax-free lump sum Adj. 1. . "The Roth IRA money is invested in mutual funds," says Baker. "The same is true for each child's 529 plan." Again, 529 plans offer tax-free investing, provided that the money is ultimately used for higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. . For the young Dunsons, Baker recommends Virginia's 529 plan, choosing mutual funds run by American Funds. "Their money is in Investment Company of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. for domestic stocks, New Perspective for global stocks, and Bond Fund of America," Baker says. "This is a nice mix of funds from a company that has done a good job of keeping costs low and providing excellent returns. The Roth IRA money is invested in American Funds Growth Fund of America, which rounds out their portfolios." Hedge your bond bets. Investors seeking to include bond funds in a diversified portfolio need to be careful these days. "With a flat yield curve Flat Yield Curve A chart that shows that the yields of bonds with short maturities are equal to the yields of bonds with longer maturities. , you might be better off with short- and intermediate-term Intermediate-term Typically one-ten years. intermediate-term Of or relating to an investment with an expected holding period somewhere between short-term and long-term. bond funds," says Johnson. "There are concerns that long-term interest rates will rise." That is, short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. bonds now yield nearly as much as long-term bonds. If you invest in long-term bond funds to get a little more yield, you'll you'll Contraction of you will. you'll you will or you shall you'll will risk losing principal, because long-term bonds lose value when interest rates rise. "I also like TIPS funds," says Johnson, referring to mutual funds that invest in Treasury inflation-protected securities Treasury Inflation-Protected Security (TIPS) First issued by the U.S. Treasury in 1997, these Treasury bonds attempt to protect investors against fluctuations in inflation by linking the principal amount to the consumer price index. . These bonds, obligations of the federal government, will pay higher yields if inflation rises, as many forecasters expect. Johnson's firm has a policy that prohibits mentioning specific funds, but TIPS funds are available from several mutual fund families, including Fidelity, Vanguard Vanguard Any of three unmanned U.S. experimental satellites. Vanguard I (1958), the second U.S. satellite placed in orbit around Earth (after Explorer 1), was a tiny 3.25-lb (1.47-kg) sphere with two radio transmitters. , and PIMCO PIMCO Pacific Investment Management Company . Mark Salzinger, who publishes the No-Load Fund A type of Mutual Fund that does not impose extra charges for administrative and selling expenses incurred in offering its shares for sale to the public. Investor newsletter out of Brentwood, Tennessee Brentwood is a city in Williamson County, Tennessee, United States. The population was 23,445 as of the U.S. Census Bureau's 2000 census, and as of 2007, Brentwood's population has increased to over 30,000. Brentwood is an affluent Nashville suburb. , offers another way to reduce interest-rate risk in bond funds. "Fidelity's Floating Rate High Income Fund invests mainly in bank loans," he says. "If inflation increases and interest rates move up, the rates on those bank loans will go higher, so payments to investors will rise." Stay well stocked. Among stock funds, Baker suggests that a core holding might be T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. Total Equity Market Index Fund, which tracks the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Wilshire Not to be confused with Wiltshire. Wilshire may refer to:
A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". and thus provides exposure to the broad market. "Cutting expenses will pay off over the long term," he says, "and index funds tend to be less expensive than funds where the managers try to pick stocks." If you prefer funds that try to beat the market rather than match a broad index, you should hold several funds that buy different types of stocks. Russ n. sing. & 1. A Russian, or the Russians. 2. The language of the Russians. a. 1. Of or pertaining to the Russians. Kinnel, Morningstar's director of mutual fund research, expresses an interest in funds that hold large company growth stocks. "I'm not arguing that large-growth is a sure-fire hit for the next 12 months," says Kinnel, "but you ought to get a pretty good return over the next five to 10 years. The managers of large-growth funds have very small cash positions, which signals that they are finding a lot of attractive investments." Over the last five years, large-cap growth funds have lost 8.32% per year while small-cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock value stocks Value stocks Stocks with low price/book ratios or price/earnings ratios. Historically, value stocks have enjoyed higher average returns than growth stocks (stocks with high price/book or P/E ratios) in a variety of countries. have returned 14.86% a year, so it may be time for the tables to turn. Large-growth funds might get a boost from a familiar market sector: tech stocks. "If I had to pick one area for investing, it would be technology," says Johnson. "Corporations are holding as much cash now as they've had in the last 45 years, and a great deal of that cash probably will go to upgrade obsolete OBSOLETE. This term is applied to those laws which have lost their efficacy, without being repealed, 2. A positive statute, unrepealed, can never be repealed by non-user alone. 4 Yeates, Rep. 181; Id. 215; 1 Browne's Rep. Appx. 28; 13 Serg. & Rawle, 447. technology. Rather than invest in a specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. technology fund, I'd choose a diversified fund Diversified Fund A type of investment fund that contains a wide array of securities and is adequately diversified. A mutual fund classified as a "diversified fund" will actively maintain a high level of diversification in its holdings, thus reducing the amount of risk in the fund, with a manager who has been successful enough in picking sectors to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. the market for the past five or 10 years." Among Morningstar's favored large-cap growth funds, Fidelity Capital Appreciation and Vanguard Growth Equity have substantial exposure to information technology. Growth funds can be balanced by value funds such as Artisan Mid Cap Value and TCW TCW Total Carat Weight TCW Temporal Cold War (Star Trek Enterprise) TCW Troop Carrier Wing TCW Turnbuckle Championship Wrestling TCW Tasty Coma Wife (Scrubs episode) Galileo Dividend Focused Fund Focused Fund Funds that contain a large holding of a small amount of stocks. Notes: There are three general types of focused funds: 1. Those who hold a portfolio concentrated in approximately 10 to 30 stocks. 2. , which are Salzinger's selections. "Another way to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. your portfolio," he says, "might be to invest in a fund that holds the stocks of companies that produce commodities, such as T. Rowe Price New Era." Keep up with foreign affairs foreign affairs pl.n. Affairs concerning international relations and national interests in foreign countries. . Once you have determined your allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as of stock and bond funds, the third leg of the stool stool (stldbomacl) feces. rice-water stools the watery diarrhea of cholera. silver stool is international investing. "We don't want to have all of our eggs in the U.S. basket," says Holland. "We're concerned that the dollar may weaken." If the U.S. dollar loses ground, the stocks of foreign countries are likely to appreciate as their currencies move up in value. "We have steadily recommended international allocations," says Holland, "including international small-cap and emerging markets funds for most clients. Altogether, about 20% of equity allocations are in international funds." Holland's favorite foreign funds include Harbor International (a value fund) and Artisan International (which holds growth stocks); for smaller accounts that may have room for just one foreign fund, she cites Vanguard Total International Stock Index Fund, which combines European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. , Pacific, and emerging markets indexes. "For international investing," says Johnson, "China and India are poised for growth while the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community seems to have problems. My preference is to invest in a world stock fund and let the manager pick the best companies. However, you might want to look and see if the manager has a history of investing in the high-growth areas of Asia." Kinnel suggests combining Vanguard International Growth, a large-cap fund that does not hedge currency risk, with Tweedy, Browne Global Value, a fund that invests in smaller companies and hedges in order to protect U.S. investors from a weak dollar. "This strategy can provide more diversification for your overseas holdings," he says. Thus, to diversify your mutual fund holdings you must go beyond buying a few funds holding the same blue-chip stocks Noun 1. blue-chip stock - a common stock of a nationally known company whose value and dividends are reliable; typically have high price and low yield; "blue chips are usually safe investments" blue chip ; you need various types of assets, domestic and international. "Your mother and your grandmother probably told you not to put all your eggs in one basket," says Baker. "Well, they were absolutely right. You shouldn't try to catch the 'next big thing.' Instead, stick to a diversified portfolio."
B.E.'S TOP MUTUAL
FUND PERFORMERS
TICKER 1-YEAR
FUND NAME SYMBOL RETURN
Large Old Westbury Mid Cap Equity OWMCX 4.83%
Growth Legg Mason Growth Trust Primary LMGTX -2.92
Calvert Social Investment
Equity A CSIEX 5.56
Dreyfus Premier Alpha Growth T BSFAX 6.03
Fidelity Contrafund FCNTX 11.94
Mid Delaware American Services A DASAX 11.30
Growth Eagle Growth EGRWX 17.22
Meridian Growth MERDX 2.65
Columbia Acorn Select Z ACTWX 10.23
Munder MidCap Select A MGOAX 17.00
Small Oberweis Micro-Cap OBMCX 2.27
Growth Schroder U.S. Opportunities Inv SCUIX 14.48
John Hancock Small Cap A DSISX 10.92
Dreyfus Premier Future Leaders R DFLRX 9.98
Dreyfus Premier Future Leaders A DFLAX 9.54
Large Mairs & Power Growth MPGFX 5.96
Blend Century Shares Trust CENSX 6.09
AmSouth Select Equity A ASECX -2.13
Thompson Plumb Growth THPGX -4.23
Fidelity Select Food &
Agriculture FDFAX 8.80
Mild CGM Focus CGMFX 27.97
Blend Fairholme FAIRX 25.37
Kinetics Paradigm WWNPX 27.44
RS Value RSVAX 29.24
FPA Paramount FPRAX 8.88
Small Bridgeway Ultra-Small Co. Mkt Fun BRSIX 6.12
Blend Texas Capital Value & Growth TCVGX 20.39
Stratton Small-Cap Value STSCX 23.11
Pacific Advisors Small Cap A PASMX 4.38
Strategic Partners Small
Cap Value PZVAX 19.59
Large Yacktman Focused YAFFX 7.37
Value Yacktman YACKX 6.89
John Hancock Classic Value A PZFVX 10.43
Clipper Focus PBHG PBFOX 4.60
Oakmark Select I OAKLX 8.61
Mid Fidelity Select Constr. & Housing FSHOX 31.82
Value Delafield DEFIX 9.48
Phoenix Mid-Cap Value A FMIVX 15.39
Marshall Mid-Cap Value Inv MRVEX 10.93
Janus Mid Cap Value Investor JMCVX 12.26
Small Pacific Capital Small Cap A PCSAX 14.65
Value Berwyn BERWX 16.37
Pacific CapitaI Small Cap B PCSBX 13.78
JPMorgan Small Cap Value A PSOAX 12.20
Legg Mason U.S. Small Cap
Value Prim LMSVX 14.79
Moderate Bruce BRUFX 27.83
Allocation T. Rowe Price Capital
Appreciation PRWCX 10.72
Oakmark Equity & Income I OAKBX 6.24
EquiTrust Managed FBMGX 7.18
Greenspring GRSPX 5.63
World Polaris Global Value PGVFX 14.75%
Stock Vanguard Global Equity VHGEX 15.29
Templeton Global Smaller Comp A TEMGX 19.01
Mutual Discovery A TEDIX ]9.52
Pearl Total Return PFTRX 13.06
Foreign Fidelity Advisor Diversified
Intl A FDVAX 14.22
Large Marsico International
Opportunities MIOFX 7.51
Growth Fidelity Advisor Diversified
Intl B FDIBX 13.22
Laudus Int'l MarketMasters In SWOIX 14.71
MFS International Growth A MGRAX 10.53
Foreign Fidelity Canada FICDX 29.10
Large Exeter World Opportunities A EXWAX 15.40
Blend Thornburg International Value A TGVAX 15.77
Vanguard International Value VTRIX 14.94
Members International Stock A MINAX 18.71
Long-Term American Cen. Target Mat 2025 Inv BTTRX 36.56
Government American Cen. Target Mat 2020 Adv ACTEX 26.01
Wasatch-Hoisington U.S. Treasury WHOSX 25.69
American Cen. Target Mat 2015 Inv BTFTX 16.24
PIMC0 Long-Term U.S. Gov'tA PFGAX 15.17
Inter- Vanguard Inflation-Protected Secs VIPSX 9.07
mediate American Century Inflat-Adj
Bd Inv ACITX 8.95
Government BlackRock Government Inc Inv A CCGAX 7.01
Vanguard Interm-Term U.S. Treas VFITX 6.25
PIMCO Total Return Mortgage D PTMDX 6.01
Short-Term Managers Intermediate
Duration Govt MGIDX 5.33
Government Marshall Government Income Inv MRGIX 5.73
Accessor Mortgage Securities Adv AMSFX 5.15
American Century Target
Mat 2005 Inv BTFIX 1.59
Allegiant Government Mortgage A ARSAX 5.43
Long-Term Delaware Extended Duration Bond A DEEAX 16.35
Corporate Vanguard Long-Term lnvest.-Grade VWESX 17.76
Bond Vanguard Long-Term Bond Index VBLTX 16.81
Lebenthal Taxable Municipal Bond LTMBX 11.36
Smith Barney Invest. Grade Bond A SIGAX 11.95
Short-Term Ivy Mortgage Securities A IYMAX 5.52
Bond Phoenix Multi-Sector S/T Bd A NARAX 5.49
UMB Scout Bond UMBBX 4.08
Bremer Bond BBNDX 4.77
Brown Advisory Inter. Income A BIATX 4.19
High-Yield Westcore Flexible Income WTLTX 10.35
Bond Pioneer High Yield A TAHYX 5.76
Nations High Yield Bond Inv A NAHAX 8.93
AFBA Five Star High Yield I AFHYX 4.22
Calamos High Yield A CHYDX 8.75
Muni Nat'l Harris Insight Tax-Exempt Bond N HXBAX 6.65
Interme- Delaware Tax-Free USA Interm. A DMUSX 8.45
diate Evergreen Municipal Bond A EKEAX 8.54
American Funds Tax-Exempt Bond A AFTEX 7.38
Federated Municipal Securities A LMSFX 8.29
3-YEAR 5-YEAR
FUND NAME RETURN RETURN
Old Westbury Mid Cap Equity 4.23% 5.30%
Legg Mason Growth Trust Primary 22.35 3.14
Calvert Social Investment
Equity A 6.70 2.81
Dreyfus Premier Alpha Growth T 6.60 2.72
Fidelity Contrafund 11.53 2.58
Delaware American Services A 17.87 16.33
Eagle Growth 7.27 11.16
Meridian Growth 11.03 11.14
Columbia Acorn Select Z 14.49 10.11
Munder MidCap Select A 17.19 8.95
Oberweis Micro-Cap 23.13 12.59
Schroder U.S. Opportunities Inv 14.55 11.10
John Hancock Small Cap A 9.79 9.33
Dreyfus Premier Future Leaders R 10.42 9.29
Dreyfus Premier Future Leaders A 10.01 8.91
Mairs & Power Growth 11.52 11.16
Century Shares Trust 7.57 11.06
AmSouth Select Equity A 7.19 8.98
Thompson Plumb Growth 7.41 8.61
Fidelity Select Food &
Agriculture 5.25 8.19
CGM Focus 17.17 30.20
Fairholme 17.65 18.67
Kinetics Paradigm 22.17 16.88
RS Value 28.43 16.72
FPA Paramount 14.80 15.18
Bridgeway Ultra-Small Co. Mkt Fun 25.45 21.21
Texas Capital Value & Growth 19.40 20.45
Stratton Small-Cap Value 20.02 19.49
Pacific Advisors Small Cap A 19.97 17.78
Strategic Partners Small
Cap Value 18.83 17.49
Yacktman Focused 14.52 17.97
Yacktman 15.16 17.80
John Hancock Classic Value A 14.13 17.32
Clipper Focus PBHG 6.34 13.73
Oakmark Select I 9.50 13.70
Fidelity Select Constr. & Housing 18.85 22.54
Delafield 14.09 18.76
Phoenix Mid-Cap Value A 14.21 17.82
Marshall Mid-Cap Value Inv 13.75 16.61
Janus Mid Cap Value Investor 14.53 16.38
Pacific Capital Small Cap A 18.17 21.01
Berwyn 16.41 20.88
Pacific CapitaI Small Cap B 17.29 20.08
JPMorgan Small Cap Value A 11.87 18.34
Legg Mason U.S. Small Cap
Value Prim 13.20 18.26
Bruce 43.42 33.40
T. Rowe Price Capital
Appreciation 12.62 13.64
Oakmark Equity & Income I 10.46 13.03
EquiTrust Managed 8.90 10.31
Greenspring 10.32 10.18
Polaris Global Value 17.72% 13.67%
Vanguard Global Equity 15.32 9.49
Templeton Global Smaller Comp A 16.86 9.41
Mutual Discovery A 13.69 9.39
Pearl Total Return 12.36 8.92
Fidelity Advisor Diversified
Intl A 14.03 4.58
Marsico International
Opportunities 11.55 3.71
Fidelity Advisor Diversified
Intl B 13.01 3.66
Laudus Int'l MarketMasters In 13.46 1.64
MFS International Growth A 11.87 0.21
Fidelity Canada 21.96 10.51
Exeter World Opportunities A 14.04 7.07
Thornburg International Value A 13.29 5.03
Vanguard International Value 12.72 3.18
Members International Stock A 14.09 3.08
American Cen. Target Mat 2025 Inv 18.46 13.34
American Cen. Target Mat 2020 Adv 15.11 12.28
Wasatch-Hoisington U.S. Treasury 12.90 10.99
American Cen. Target Mat 2015 Inv 11.78 10.96
PIMC0 Long-Term U.S. Gov'tA 9.67 10.25
Vanguard Inflation-Protected Secs 9.21 9.77
American Century Inflat-Adj
Bd Inv 8.63 9.19
BlackRock Government Inc Inv A 5.73 8.14
Vanguard Interm-Term U.S. Treas 5.73 7.73
PIMCO Total Return Mortgage D 4.95 7.38
Managers Intermediate
Duration Govt 4.25 6.57
Marshall Government Income Inv 4.46 6.10
Accessor Mortgage Securities Adv 3.83 6.09
American Century Target
Mat 2005 Inv 3.24 6.05
Allegiant Government Mortgage A 3.87 5.92
Delaware Extended Duration Bond A 13.91 12.75
Vanguard Long-Term lnvest.-Grade 10.84 10.92
Vanguard Long-Term Bond Index 10.97 10.72
Lebenthal Taxable Municipal Bond 7.66 9.31
Smith Barney Invest. Grade Bond A 8.62 9.16
Ivy Mortgage Securities A 4.59 7.04
Phoenix Multi-Sector S/T Bd A 6.65 6.91
UMB Scout Bond 3.78 5.98
Bremer Bond 3.86 5.90
Brown Advisory Inter. Income A 4.44 5.89
Westcore Flexible Income 10.99 9.43
Pioneer High Yield A 11.39 9.36
Nations High Yield Bond Inv A 13.47 9.12
AFBA Five Star High Yield I 9.97 8.91
Calamos High Yield A 11.01 8.74
Harris Insight Tax-Exempt Bond N 5.50 7.24
Delaware Tax-Free USA Interm. A 6.28 6.85
Evergreen Municipal Bond A 5.88 6.54
American Funds Tax-Exempt Bond A 5.41 6.50
Federated Municipal Securities A 5.49 6.39
MINIMUM INITIAL
FUND NAME INVESTMENT PHONE
Old Westbury Mid Cap Equity $1,000 800-607-2200
Legg Mason Growth Trust Primary 1,000 800-822-5544
Calvert Social Investment
Equity A 1,000 800-368-2748
Dreyfus Premier Alpha Growth T 1,000 800-554-4611
Fidelity Contrafund 2,500 800-343-3548
Delaware American Services A 1,000 800-362-7500
Eagle Growth 500 800-749-9933
Meridian Growth 1,000 800-446-6662
Columbia Acorn Select Z 1,000 800-345-6611
Munder MidCap Select A 2,500 800-468-6337
Oberweis Micro-Cap 1,000 800-323-6166
Schroder U.S. Opportunities Inv 10,000 800-464-3108
John Hancock Small Cap A 1,000 800-225-5291
Dreyfus Premier Future Leaders R 1,000 800-334-6899
Dreyfus Premier Future Leaders A 1,000 800-334-6899
Mairs & Power Growth 2,500 800-304-7404
Century Shares Trust 250,000 800-321-1928
AmSouth Select Equity A 1,000 800-451-8382
Thompson Plumb Growth 2,500 800-999-0887
Fidelity Select Food &
Agriculture 2,500 800-343-3548
CGM Focus 2,500 800-345-4048
Fairholme 2,500 866-202-2263
Kinetics Paradigm 2,500 800-930-3828
RS Value 5,000 800-766-3863
FPA Paramount 1,500 800-982-4372
Bridgeway Ultra-Small Co. Mkt Fun 2,000 800-661-3550
Texas Capital Value & Growth 2,000 800-880-0324
Stratton Small-Cap Value 2,000 800-634-5726
Pacific Advisors Small Cap A 0 800-989-6693
Strategic Partners Small
Cap Value 1,000 800-225-1852
Yacktman Focused 2,500 800-525-8258
Yacktman 2,500 800-525-8258
John Hancock Classic Value A 1,000 800-225-5291
Clipper Focus PBHG 2,500 800-433-0051
Oakmark Select I 1,000 800-625-6275
Fidelity Select Constr. & Housing 2,500 800-343-3548
Delafield 5,000 800-221-3079
Phoenix Mid-Cap Value A 500 800-243-1574
Marshall Mid-Cap Value Inv 1,000 800-236-8560
Janus Mid Cap Value Investor 2,500 800-525-3713
Pacific Capital Small Cap A 1,000 800-258-9232
Berwyn 3,000 800-992-6757
Pacific CapitaI Small Cap B 1,000 800-258-9232
JPMorgan Small Cap Value A 1,000 800-480-4111
Legg Mason U.S. Small Cap
Value Prim 1,000 800-577-8589
Bruce 1,000 800-872-7823
T. Rowe Price Capital
Appreciation 2,500 800-638-5660
Oakmark Equity & Income I 1,000 800-625-6275
EquiTrust Managed 250 877-860-2904
Greenspring 2,000 800-366-3863
Polaris Global Value $2,500 888-263-5594
Vanguard Global Equity 3,000 800-662-7447
Templeton Global Smaller Comp A 1,000 800-342-5236
Mutual Discovery A 1,000 800-342-5236
Pearl Total Return 3,000 866-747-9030
Fidelity Advisor Diversified
Intl A 2,500 877-208-0098
Marsico International
Opportunities 2,500 888-860-8686
Fidelity Advisor Diversified
Intl B 2,500 877-208-0098
Laudus Int'l MarketMasters In 2,500 800-435-4000
MFS International Growth A 1,000 800-225-2606
Fidelity Canada 2,500 800-343-3548
Exeter World Opportunities A 2,000 800-466-3863
Thornburg International Value A 5,000 800-847-0200
Vanguard International Value 3,000 800-662-7447
Members International Stock A 1,000 800-877-6089
American Cen. Target Mat 2025 Inv 2,500 800-345-2021
American Cen. Target Mat 2020 Adv 2,500 800-345-2021
Wasatch-Hoisington U.S. Treasury 2,000 800-551-1700
American Cen. Target Mat 2015 Inv 2,500 800-345-2021
PIMC0 Long-Term U.S. Gov'tA 5,000 888-877-4626
Vanguard Inflation-Protected Secs 3,000 800-662-7447
American Century Inflat-Adj
Bd Inv 2,500 800-345-2021
BlackRock Government Inc Inv A 500 800-441-7762
Vanguard Interm-Term U.S. Treas 3,000 800-662-7447
PIMCO Total Return Mortgage D 5,000 888-877-4626
Managers Intermediate
Duration Govt 1,000 800-835-3879
Marshall Government Income Inv 1,000 800-236-8560
Accessor Mortgage Securities Adv 5,000 800-882-9612
American Century Target
Mat 2005 Inv 2,500 800-345-2021
Allegiant Government Mortgage A 500 800-622-3863
Delaware Extended Duration Bond A 1,000 800-362-7500
Vanguard Long-Term lnvest.-Grade 3,000 800-662-7447
Vanguard Long-Term Bond Index 3,000 800-662-7447
Lebenthal Taxable Municipal Bond 2,500 800-221-5822
Smith Barney Invest. Grade Bond A 1,000 800-451-2010
Ivy Mortgage Securities A 500 800-777-6472
Phoenix Multi-Sector S/T Bd A 500 800-243-4361
UMB Scout Bond 1,000 800-996-2862
Bremer Bond 2,000 800-595-5552
Brown Advisory Inter. Income A 2,000 800-540-6807
Westcore Flexible Income 2,500 800-392-2673
Pioneer High Yield A 1,000 800-225-6292
Nations High Yield Bond Inv A 1,000 800-321-7854
AFBA Five Star High Yield I 500 800-243-9865
Calamos High Yield A 2,500 800-823-7386
Harris Insight Tax-Exempt Bond N 1,000 800-982-8782
Delaware Tax-Free USA Interm. A 1,000 800-523-4640
Evergreen Municipal Bond A 1,000 800-343-2898
American Funds Tax-Exempt Bond A 250 800-421-0180
Federated Municipal Securities A 1,500 800-341-7400
SOURCE: MORNINGSTAR INC. MORNINGSTAR MAKES EVERY EFFORT TO ENSURE THE
ACCURACY AND COMPLETENESS OF THIS DATA, BUT CANNOT GUARANTEE IT, TOP
FUNDS IN EACH CATEGORY, RANKED BY FIVE-YEAR RETURNS, OPEN TO THE
PUBLIC. RETURNS THROUGH JUNE 30, 2005
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