Doug Fabian releases his Mutual Fund Lemon List for the second quarter 2008 --
revealing 2,185 funds with more than $ 1 trillion in underperforming assets
WASHINGTON, August 6 / PRNewswire / - As the news from Wall Street continues
be ugly, Doug Fabian has released his newest version of the Mutual Fund Lemon
List, exposing the worst-performing mutual funds for the second quarter of 2008.
Being on the list, the fund has to underperform its index for one-, three-,
and five-year periods.
Three of the largest fund companies have prominent funds on the list. On
top of the list is Fidelity Investments with 53 underperforming mutual funds,
followed by Vanguard and American Funds.
According to Fabian, "There is absolutely no reason to hold a lemon fund.
Mutual fund investors have been brainwashed by the financial services sector
to keep what they have been sold, although it is against the best interest
of investor. "
Second quarter Mutual Fund Lemon List is the largest in nine years with
2185 funds in 82 categories and totaling more than $ 1,007,000,000 (one
trillion seven billion) in combined assets in lemon funds.
Fabian has created a website, www.MutualFundLemonList.com which gives investors
with:
- A comprehensive search engine that allows searches by stock symbol, stock
family, or fund name
- Frequently asked questions about the list and a brief training on how
inefficient mutual funds get on the list and what to look for as a
investor funds
- An introduction to Exchange Traded Funds: a suitable solution to owning a
lemon fund
SOURCE Mutual Fund Lemon List
Patricia Jackson, +1-202-216-0601, ext. 478, pjackson@eaglepub.com for mutual
Fund Lemon List
Fidelity Mutual Funds
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