Mutual Fund Changes

June 12, 1994

Beginning today, the mutual fund table and the money market funds table appearing in Sunday editions of the Business section have been revamped to provide information more meaningful to investors and to improve readability.

Information contained in the mutual fund table now includes three measures of total return for each listing -- 1-year, 3-year and 5-year -- so that investors have a clearer picture of the success of each fund over different durations. The fund's ticker symbol, investment objective, relative performance ranking, weekly close and weekly change remain unaltered.

The table also has been amended to provide more space between each listing in the tables, making the items easier to read.

To facilitate the changes, the number of funds included in the listing has been reduced. The table now includes the 3,000 largest open-end mutual funds priced through the National Association of Securities Dealers, as well as funds based in Maryland, regardless of size, and municipal bond funds for Maryland and its neighboring states.

The smallest funds in the table have less than $25 million in total assets.

A similar change has been made in the daily mutual fund table, published Tuesday through Friday.

Many of the changes were driven by the belief that the performance of a mutual fund over a period of time was more meaningful to investors than weekly or 52-week highs and lows. While past performance does not necessarily indicate future success, a fund's total return, assuming reinvestment of distributions, is a key industry measure.

Other changes were caused by the rapid growth of the mutual fund industry in recent years, leading to a significant increase in the number of funds. In the past two years alone, the number of stock and bond funds has grown more than 40 percent, forcing many publications to restrict the number of funds that are included in their tables.

In addition, to help accommodate these changes, money market funds now appear with the mutual fund table. U.S. Securities will no longer appear on Sundays but will continue to be available daily through SunFax.

These changes do not affect the stock market tables published Tuesday through Saturday.

If you believe that a specific mutual fund that has been deleted deserves special attention and should be included in the tables, or if you would like to comment on these changes, we welcome your opinion.

To comment, call Sundial, the Sun's telephone information service, at (410) 783-1800. In Anne Arundel County call 268-7736; in Harford County, 836-5028; in Carroll County, 848-0338. Using a touch-tone phone, punch in the four-digit code 6189 after you hear the greeting.

Or address correspondence to:

Mutual Funds

c/o Business Section

The Baltimore Sun

501 N. Calvert St.

Baltimore, Md. 21278.

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