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Rating:USA Today Fund Columnist Worries Over the Biggest of the Big Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 07, 2010

USA Today Fund Columnist Worries Over the Biggest of the Big

News summary by MFWire's editors

Fundsters who follow (or participate in) in the age-old debate over mutual fund size may want to read today's edition of USA Today. Columnist John Waggoner ponders whether or not the biggest non-money market mutual funds (notably the biggeset, Bill Gross' $250 billion Pimco Total Return and American Funds' Growth Fund of America) are just, well, too big.

Waggoner highlights two classic issues raised about giant mutual funds: not being allowed to own more than five percent of a given company (a common self-imposed mutual fund restriction) and having trouble buying and selling large positions (for fear of moving the market).

Morningstar research director John Rekenthaler and American Funds/Capital Group spokesman Chuck Freadhoff both weigh in.

"There's no question that funds become too big and unwieldy. But there's a lot more speculation than knowledge about when a fund is too large," Rekenthaler told USA Today. "We all should be congratulating them, but we all should also be a bit wary." 

Edited by: Neil Anderson, Managing Editor


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