Article: Don?t Let Mutual Fund Names Fool You Out Of Your Retirement!
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Don?t Let Mutual Fund Names Fool You Out Of Your Retirement!
Mutual fund managers use fake fund names to part you from your money such that you cannot judge what a fund does by its name. Many funds have names that are outright misleading or even deceptive. In the late 1990?s, for instance, during the technology stock bubble, some portfolio managers took advantage of public?s desire to chase the latest fad by slapping ?internet? in front of their fund names.
The chances of that happening now are possibly lower. As of July 2002, the SEC requires funds to have at least 80% of their assets in securities that their fund name implies, up from 65% previously. This new rule is forcing funds that called themselves something like the America?s Government Fund to either dispose of East Asian government debt if it exceeded 20% of fund assets, or ...
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