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Consider a fund ranking system based on momentum.
NEARLY all stock mutual funds had miserable returns in the fourth quarter of 2008 — even those that received excellent grades from the leading fund ranking systems.
More obscure fund ranking systems that have received even stronger academic seals of approval also couldn't avoid the markets' steep decline.
Unfortunately, the mutual fund ranking system employed by the Value Line Mutual Fund Survey hasnt worked any better.
The fund's strength earns it an "A" grade in down markets, according to the Forbes mutual fund ranking system.
Through 2003 Morningstar labeled Tocqueville (median market cap then: $6.7 billion) a midcap blend fund, ranking it in the 65th percentile of that category three stars.
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The fund ranked ninth among diversified domestic stock funds.
The company's benchmark pension fund ranked in the lowest 10percentt among its competitors.
According to Lipper, the institutional share class of his fund ranked 91st out of 426 in its category.
The fund ranks among the top 10percentt of large-cap growth funds for the last five years with an average annual return of 1.3percentt.
Mr. Karstens said, "If a fund ranks in the bottom 50percentt of its peers over a five-year period, that bothers me".
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