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New York Institute of Finance Guide to Mutual Funds 2000
By IndexFunds.com Staff
1999
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Mutual Funds are undoubtedly one of the great financial inventions
of all time. Fund investors can get broad diversification and
professional management at much lower cost and greater convenience
than would be possible otherwise. However, with more than 12,000
mutual funds available1,
finding the best funds can be a daunting task. That's where The
New York Institute of Finance Guide to Mutual Funds 2000
comes in handy. Author Kirk Kazanjian sifts through the overabundance
of mutual funds to reveal 100 superior funds which he calls "Powerhouse
Performers".
The Powerhouse Performers are definitely a good place to start
for investors seeking superior actively-managed funds. All 100
funds have excellent track records, reasonable expenses (you won't
find Kaufmann here), and relatively low minimum investments. Most
importantly, the funds were selected based on the track record
of the current manager. As the author correctly points out, "The
first thing to keep in mind when hunting for a stock fund is that
the manager is everything." Accordingly, a few brand-new funds
made the list because of a seasoned manager with an excellent
track record.
Surprisingly, there is a chapter of the book devoted to index
funds. That in itself is an indication of how far indexing has
come. If this book had been written five years ago, there would
likely be very little mention of index funds. The author is generally
pro-indexing, although his obvious preference for active management
shines through.
| "If you want to buy and hold and forget
about your investment until you're ready to touch the money
years down the line, index funds may be right for you."
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The New York Institute of Finance Guide to Mutual Funds 1999
is especially recommended for novice investors seeking a simple
guide to mutual funds. The author covers all the essentials of
mutual funds concisely and in an easily readable manner. It may
be too superficial for some investors, though. Beginners seeking
a more complete reference will probably be better served by Eric
Tyson's excellent book Mutual
Funds For Dummies.
The biggest drawback to the book is that the information is somewhat
dated. Of course, this is to be expected with any book--the lead
time required precludes inclusion of up-to-the-minute information.
The situation is particularly acute for this book because the
performance information is current as of June 30, 1998. Last year's
near-bear market in August is thus missing from the performance
records.
The New York Institute of Finance Guide to Mutual Funds 1999
is recommended for novice investors looking for basic information.
It should also be useful for believers in active management who
feel swamped by the overabundance of mutual fund information.
1 From "Fund Choices: 12,000
for You to Love And How to Identify the Wrong Ones", The Wall
Street Journal, by Jonathan Clements (1/7/99, p. R1). It
should be pointed out that the 12,000 figure includes multiple
class shares common among load funds.
Author
Kirk Kazanjian is a nationally recognized mutual fund analyst
and investment expert. He began his career as an award-winning
television news anchor and business reporter, and is the former
President and Chief Investment Strategist of Wall Street Advisors,
an investment firm specializing in no-load funds. Mr. Kazanjian
appears regularly on radio and TV stations across the country
and is the author of numerous personal finance books, including
Buying Mutual Funds for Free, and the highly acclaimed
annual investment guide
Wall Street's Picks.
(from
the cover)
IndexFunds.com Staff
