Buy the Funds, Not the Stock
Do fund company shares really outperform the fund companies' funds?
About 10 years ago, there were a few articles written that pointed out the intriguing fact that an investor would have been much better off buying shares of fund companies than their funds. Some then concluded that it reflected that fund company management's true loyalties were to stockholders rather than to fundholders. Others saw it as proof that funds were just for naïve small investors who were ripe to get ripped off.
Russel Kinnel does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.