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Janus and Hartford Top Fund Company Rankings for U.S. Stocks

Find out where Vanguard, Putnam, and Fidelity ranked.

Russell Kinnel, 02/12/2008

Morningstar's fund analysts cover 2,000 mutual funds. Their full analyst reports, including Stewardship Grades, are available in Morningstar Principia Mutual Funds Advanced and Morningstar Advisor Workstation Office Edition.

It's time to close the books on 2007, but first let's take a look at how the fund companies have been doing across the board. I like to roll up fund companies' returns and asset-weight them to see how fund companies and their clients are really doing. It might seem obvious who would be leading, but the process always yields some surprises.

We have taken the 20 largest domestic equity fund shops, looked at the three-year percentile performance rank for their stock funds, and then weighted those percentile ranks based on where the asset base stood three years ago. That final wrinkle is designed to give us a handle on how the typical fundholder fared because a lot more people owned Janus Fund than Janus Venture. I go back three years for asset size because if I used today's asset base, appreciation and fund flows would naturally slant it to a more favorable result than would be accurate.

So, let's take a look at the rankings. Remember that for percentile rankings 1 is the best and 100 is the worst. (See the table for all the details.)

 Top 20 Domestic-Equity Fund Families by Asset-Weighted Three-Year Rank

3-year
Asset-Weighted
Rank (Dec. 2004)

3-year
Asset-Weighted
Rank (Dec. 2007)
Change in Rank
Janus
32.54
19.72
12.82
Hartford Mutual Funds
34.06
20.80
13.26
Davis Funds
11.71
25.71
-14.00
American Funds
35.42
32.89
2.53
Columbia
45.69
34.26
11.43
Dodge & Cox
1.00
35.00
-34.00
Fidelity Investments
49.77
38.74
11.03
T. Rowe Price
27.15
41.15
-14.00
MFS
66.90
41.28
25.62
Vanguard
29.58
42.83
-13.25
BlackRock
57.58
49.29
8.29
AIM Investments
65.17
51.60
13.57
ING
67.73
52.66
15.07
OppenheimerFunds
44.31
53.96
-9.65
Franklin Templeton Investments
49.17
56.73
-7.56
Lord Abbett
45.85
57.45
-11.60
Van Kampen
64.73
58.19
6.54
American Century Investments
31.01
64.44
-33.43
John Hancock
75.24
74.23
1.01
Putnam
60.13
80.29
-20.16

Asset-weighted ranks exclude institutional shares.

Janus clocked in with an average percentile rank of about top 20% for the three years ended 2007. That's outstanding. Janus Contrarian JSVAX, Janus Twenty JAVLX, and Janus Orion JORNX posted returns that were in the top 2% of their category for the three years, and many other Janus funds had a strong three years, including Janus Fund JANSX, which was run by David Corkins for about two of those three years. That's a remarkable turnaround considering the firm's bear market woes. The bad news is that Corkins and Janus Twenty manager Scott Schoelzel have resigned, as have some other managers at Janus. Thus, the firm will have a pretty tough time matching that performance.PAGEBREAK

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