BLACK ENTERPRISE asked Morningstar Inc., the Chicago-based mutual funds research firm, to evaluate the top fund families
. It ranked them based on the three-year average return of fund families
with assets of more than $5 billion.
Moreover, we'll tell you about me advantages and disadvantages of buying fund families
But Vincent and Lynne Toye of South Orange, New Jersey, have found that investing in large fund families
makes it a far easier proposition.
"The S&P funds do best when large capitalization stocks have gotten a boost from the economy, and they'll lag behind other funds in years when small companies are doing better in the market." Teall also recommends looking for fund families
such as Vanguard and Fidelity (800-544-8888) that allow you the opportunity to switch out of an index when you feel market factors call for it.
A number of fund families
will waive their minimum initial investment requirements if you set up an automatic investment plan to have a fixed amount, say $50 or $100, debited from your paycheck or bank account every month.
Yearly fees are usually low, in the neighborhood of $20 or $30; some fund families
charge no fees at all.
Among the mutual fund families
that Mangham recommends are Vanguard, Fidelity and T.
Being able to switch from one fund to another with just a phone call is a major advertising point of the big fund families
. Worried about the stock market?
Currently, Francis is assessing three top-notch fund families
to see which will be the first he joins.
"Some fund families
(such as Templeton) have pretty much the same investment philosophy for all of their funds," says Holowesko, who has been managing funds since 1987.
Also, most mutual fund families
will allow you to open an asset builder account, where you start off with a small deposit and sign up to have a set sum withdrawn from your bank account each month.
The aim of the fund-raising drive was to 'fund families
with a season ticket for the 2019/20 campaign' who 'wouldn't normally get a chance to attend game.'.