Does Your Fund Meet Its Fiduciary Responsibilities?
Pulling up the rear among the scandal-plagued funds was
(AVZ) unit Invesco, which ranked No. 225, with less than 2% of its 43 funds ranking "passed" or "acceptable." (
TheStreet.com raised red flags about Invesco funds back in October. For more details,
Another interesting point: The rankings didn't factor in the scandal in any quantifiable way -- no points were taken off for market-timing. Essentially, the rankings suggest that allowing abusive trading and failing to measure up from a fiduciary responsibility standpoint go hand in hand.The top 10 fund firms, in order, were: Matthews Asian Funds; Advance Capital I Group; Bridgeway Funds; Elfun Funds; Oakmark Funds; RS Funds; TD Waterhouse Funds; Vanguard Group; Undiscovered Managers Funds; and Wasatch Funds.
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