Take Me to Your Leaders
A new research tool helps you find leading mutual funds.
If you research mutual funds, you've probably seen Morningstar's mutual fund reports and its five-star rating system. Another research tool gaining attention is Lipper Leaders, introduced by Denver-based Lipper Inc. in 2001. And in this case, big orange checksmarks matter most.
"There is no one-size fund that fits all investors," says Jeff Tjornehoj, a Lipper research analyst. "Many criteria are critical when making an investment decision. We've identified five of them." They include: a fund's total return, consistent return, preservation (of capital), tax efficiency and expense. Funds are assigned scores for each of these criteria. The highest score a fund can receive is a Lipper Leaders orange checkmark, meaning its performance ranks in the top quintile. The second highest score is 2, representing funds scoring in the second quintile; the third best is a 3; and so on, down to 5.
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