t rowe price retirement calculator
List
Should there be a List of mutual-fund families? There are obviously too many funds (and too much churn in the industry) to list them all, but the distributors and sponsors are few enough in number that it ought to be possible. There are at least half a dozen that are interesting or topical enough to be worth an article on their own. (Off the top of my head, that list would include Fidelity Investments, which I've partially done, MFS Investment Management, which I've stubbed, Vanguard Group, and Franklin Resources. Others?) Each article should hopefully describe the structure of the company; interlocking between sponsors, distributors, and investment advisors; and relationships with other firms in the financial services industry and out. 18.24.0.120 04:22, 23 Jan 2004 (UTC)
Why not. T. Rowe Price would be a good addition as well. Lukobe 22:35 PST 23 Jan 2004
Fund Families
What list is complete without American Funds??? Third Largest Fund Family - best Long Term Consistent Performance, etc., etc....
Turnover section
I deleted the following sentence from the turnover section:
I think it may be valuable information, but I couldn't figure out what the author was meant by it, or its relation to the subject of the paragraph. 18.26.0.18 03:01, 15 Jan 2005 (UTC)
While I am not sure that its exactly true, what it is saying that any type of fund or corporation which acts like a fund, where a guy sits there and tries and pick stocks which he thinks will do well (ie. all non-index funds), have not done as well as if the fund automatically just buys every stock in equal amounts. I do know that in general, this is true for at least 75%. So basically in a way its saying that having guys trying to pick stocks for a mutual fund is stupid.
NOTE: This whole section should be deleted due to the fact that nothing is based on FACT. The average actively managed fund have outperformed index funds every year since 1999. The average actively managed fund has also beat their corresponding index counterparts over the last 10-year period. Index funds got hype because of their returns in the go-go 90s only. in 2005 the average domestic mutual fund nearly DOUBLED the return of the S&P 500.
The above "NOTE:" is simply wrong. See discussion under "Second Question" below.
Fund type articles
Is there any value in the Open-End Fund, Closed-End Fund, and Exchange-traded fund articles that would not be better served by a full comparison in this article directly? Or, conversely, perhaps all of the "Glossary" section should be moved out of this article and into separate articles for each topic? 18.26.0.18 06:06, 15 Jan 2005 (UTC)
Fund ticker template
Hello all. I've just created Template:fund for use when referencing mutual funds inline. An example follows. I hope this is helpful. --ChrisRuvolo (t) 21:27, 2 August 2005 (UTC)
] has a ] ] {{fund|VFINX}}..
Start your own
Anyone know the process if someone wanted to start there own mutual fund? (aka a business) basic information would be useful in this article.
Warren Buffet View on Mutual Fund
Warren Buffett, one of the most experienced and successful investors in the United States, strongly discourages mutual fund investment by his stockholders.
Berkshire Hathaway in its own way, is a mutual fund. It is a collection of company stocks (and as Paul points out complete companies) Buffett has bought for his investors. Also I am pretty well versed with Buffett and his thoughts, but can't recall him saying much one way or another regarding mutual funds, do you have reference source?
Update: The quote / views attributed to Warren Buffet which implicates the following: strongly discourages mutual fund investment by his stockholders. In fact this is the completely false. He has been quoted saying the following however: "..the best way to own common stocks is through an index fund..." Paul.Paquette
Opinionated Questions & Answers
1st Question
Part 1
To 167.80.244.204, this is to addressing your answer in the recent edit.
- Previous Edit No load funds have higher average returns than load funds. No load index funds often experience higher average returns than the average mutual fund.
Part 2
- Here's how, most of the best load funds have very low annual expenses compared to other load and even no load funds from Fido,TRowe and the rest. For example if you had $100K in Large Growth AGTHX (worlds largest mutual fund) and $100K in Large Growth FCNTX (Fidelity's largest no-load fund) and held it ten years (growing at a hypothetical 9% per year), your cost of ownership would be $13.7K for Large Growth AGTHX and $14.2K for Large Growth FCNTX. (For Load fund Large Value AIVSX cost of ownership would be $12.1K!) Go to NASD Mutual Fund Expense Analyzerand see how much each fund really costs...load or no-load.
- Large Blend VFINX is significantly cheaper...then again one day you might be having breakfast with a SR VP at Vanguard and mention to him that his firm did not give your dad good advice at his retirement...you'll get to hear him joke that "Well when you are paying peanuts, you can only hire monkeys! hahaha, Dad only lost 40% of his retirement money.
Paul: The statement about my dad, the guy from Vanguard and his "peanuts" comment did not refer to you, it was simply an anecdote regarding a chat I had over a very nice breakfast with some "nice" folks from Vanguard. I'm sorry you thought I was referring to you.
- I agree with you totally on that point, you should not seek investment advice especially from a fund company, regardless on how good they are. They want you to buy thier product, they make money off of you, thus a conflict of interest. However if you read about this investment advice in various academic journals or from experience investor and then you have something that might be of interest. Paul.Paquette
Second Question
- 167.80.244.204 Edit... when the last five-years performance comes into play that number declines to just 55%. A quick look at the Wall Street Journal's monthly "How the Largest Funds Fared" shows that the most popular managed mutual funds trounce the SP 500 performance numbers.
FACT (comparing apples and orangutans): Since 1999 the average domestic mutual fund has beat the S&P 500 EVERY YEAR. For the last 10 year period the average domestic mutual fund has beat the S&P 500. Index funds got hype because of their performance in the go-go 90s. *** HOWEVER: The "average" domestic mutual fund does not invest strictly in a blend of large cap stocks.
From Bloomberg Dec 20: "Over the last three years, the average stock fund has gained 18.6 percent a year, according to Bloomberg data, while the S&P 500 returned 13.7 percent a year. In the last five years, the funds averaged a 4.7 percent annual gain while the index edged up 1 percent per annum."
RELEVANT FACT (Apples to apples): Over the past one, five, and ten years (through 12/31/2005) the S&P 500 has beaten 70-80% (denpending on the time period) of actively managed blended large cap stock funds. For the ten year period, it's 7.3% for the average fund, 9.1% for the S&P 500 and 9.0% for the Vanguard 500 fund. For comparisons:
1 year avg fund 4.8% index 4.9% Vang500Idx 4.8%
5 year avg fund -1.3% index 0.5% Vang500Idx 0.4%
10 yrs avg fund 7.3% index 9.1% Vang500Idx 9.0%
RELEVANT FACT #2 (Apples to apples): Comparing growth funds to a growth index, the funds had a slight lead last year, but the index blew them away over 5 and 10 years:
1 year avg fund 6.20% index 5.25% Vang Gr Idx 5.09%
5 year avg fund -4.49% index -1.01% Vang Gr Idx -1.17%
10 yrs avg fund 6.95% index 8.61% Vang Gr Idx 8.52%
RELEVANT FACT #3 (Apples to apples): Comparing value funds to a value index, the index wins over 1, 5 and 10 years:
1 year avg fund 5.72% index 7.26% Vang Val Idx 7.09%
5 year avg fund 2.55% index 2.75% Vang Val Idx 2.62%
10 yrs avg fund 9.00% index 9.55% Vang Val Idx 9.44%
RELEVANT FACT #4 (Apples to apples): Comparing Multi-cap funds to the broad market, the funds had a slight lead last year, but the index wins over 5 and 10 years:
1 year avg fund 6.59% index 6.08% Vang Tot Idx 5.98%
5 year avg fund 1.40% index 2.07% Vang Tot Idx 1.97%
10 yrs avg fund 8.63% index 9.13% Vang Tot Idx 9.07%
RELEVENT STORY IN A NUTSHELL: The numbers show, over the long haul, on average, index funds outperform the average funds in their classes. (These numbers, of course, understate the advantages due to survivorship bias: not all of the funds available ten years ago still exist today and, by and large, the funds that have died off are the ones that had poor records.)
Third Question
- Previous Edit Volatility also tends to be less in highly diversified no load index funds than the less diversified (typically only about 60 stock) managed funds.
Paul, that isn't insight, its a simple tool used to assess mutual fund volatility. Use S&am
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