Transamerica Fund Races the Clock to Finish Ahead of the Index

Ah, the holidays. Time for turkey, day-after shopping -- and trying to outgun the S&P 500.

This year is shaping up to be better for active mutual fund managers than last. Through Tuesday's close, 42% of domestic equity funds were ahead of the S&P 500, according to Lipper. For all of 1998, just 17.5% outperformed the index.

But some funds are on the bubble, a hair ahead or behind the benchmark. Their managers will spend December trying to finish above it. ...