Where the Money Is? More Banks Roll Out Mutual Funds

If you're looking to invest in mutual funds, should you take it to the bank?

As banks scramble to become one-stop shopping supermarkets for consumers' personal-finance needs, they are rolling out more mutual funds to complement their stables of banking accounts, credit cards and loan services. Chances are, you get the hard sell for their fund offerings at the ATM machine, the local branch or in your mail.

But before you put more of your money where your money is, there are some important matters to consider. Bank-advised mutual funds have been stuck with a rep for not performing as well as nonbank mutual funds. Among the reasons often cited: Banks can't recruit or retain top managerial talent for the funds and bank funds are too conservative in their investment strategy. ...