Ask anyone in the industry, and they'll tell you: 2012 was a very tough year for stock funds, especially in terms of outflows.
However, as Morningstar's Fund Spy column
reported this morning, equity funds did have good numbers in one category –- new players on the scene.
According to writer and director of mutual fund research Russ Kinnel
, 96 US and 89 foreign stock funds were launched last year. That compares with 84 taxable-bond funds and nine municipal-bond funds.
seems to win the launch crown with 14 new funds launched, even if some were clones. (Kinnel notes that American Funds
] had 15 new funds, but most were 529 funds.)
For more interesting facts about last years new kids on the block, check out the original article
Stay ahead of the news ... Sign up for our email alerts now