Expenses, manager changes, and lagging performance disqualify funds from an elite group.
Recent sales underscore the perils of timing interest-rate changes--and the virtue of patience.
A very difficult investing environment has forced many managers to try atypical strategies, says Morningstar's Kevin McDevitt.
And there are a few compelling options in this category.
Pickings are slim, so consider building your own.
Plus, Fairholme ups its AIG stake, and more
Several Medalist funds are holding large cash stakes, giving U.S. stocks a wide berth.
Morningstar's Russ Kinnel, Sarah Bush, and Christine Benz highlight their top fund picks for domestic and foreign equity, core bond, inflation-protected securities, and much more.
The world is these alternatives managers' oyster.