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The winner's circle : Wall Street's best mutual fund managers, R.J. Shook, (electronic resource)
Creator Shook, R. Contributor NetLibrary, Inc. Language eng.
Publication Hoboken, N. Extent xviii, p. Note Includes index Includes index. Isbn Shook Creator Shook, R. Dewey number Label The winner's circle : Wall Street's best mutual fund managers, R. The process is easy: list all of the mutual funds for any given family; add up their combined total assets under management , or AUM; and see which companies investors have collectively poured in the most money. Since the relatively free market in the U. A subtle, yet important, distinction must be determined before the list can be made, and that is the difference between mutual fund providers and mutual fund families.
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A mutual fund family is like a brand name umbrella. Most investors encounter mutual funds through their family names, such as the first words in titles including Vanguard International Growth Fund or the Franklin Templeton Total Return Bond Fund. If you organize the list by fund families, you are going to get the initial title to match for every mutual fund in a group. The mutual fund provider is the larger financial institution that owns the fund family.
The tricky issue with fund providers is they often handle more than just mutual funds, and they may have more than one fund family brand out in the market.
For a variety of reasons, it is advantageous to focus on fund families instead of fund providers. For one, it is easier. This decision has a significant effect on total rankings; BlackRock, for example, owns the world's largest mutual fund family but falls somewhere between eighth and 13th in the fund provider category depending on what factors are included. The period between and saw enormous growth for BlackRock funds, which carry the title iShares instead of BlackRock, in part because the company uses an elaborate risk-management theory of fund management.
This laser-like focus on risk serves shareholders particularly well during economic downturns. BlackRock was also one of the first companies, along with Vanguard, to really see the value in passive management , though there are certainly many impressive iShares funds with active management. BlackRock was a leader in mortgage-backed securities MBS investments during the boom years of the housing bubble. Its iShares MBS Fund was released in with plenty of fanfare just months before the financial crisis started to unfold.
Other companies, which by and large just gobbled up securitized mortgages based on yield or market value , did not make it out as well as BlackRock. Lower-cost stock funds — index or not — typically post better results than their higher-cost counterparts. Indexing also brings peace of mind for many investors.
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The approach is straightforward: You will gain or lose whatever an index does. There is no crystal-ball guesswork to divine the best and brightest fund managers, and, accordingly, less reason for trading and worry. Investors who still choose active management should always remember that not all active managers are equal. Steer clear of firms charging standard retail for index-like returns, and instead support firms with upper-tier performance year after year, backed by a clear investment philosophy and process.
Going light on the most popular i.
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Holding an above-average amount of cash in a portfolio is another. When stocks are rising, cash will drag on performance, but also can cushion a downturn and give a manager trading flexibility and a war chest to buy stocks at cheaper prices.
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