Firm Lists Best Funds

Morningstar, the highly respected mutual fund rating service, has produced a list of outstanding performers in nine categories.

Of the 30 funds included, 16 have exceeded the average performance of competitors in six of the last seven years, and another 12 have beat the average in five of the last seven years.

The winners’ average return, 33.3 percent, was 3 percent better than that of their competitors.

Morningstar notes management is a critical factor. The selected funds have had managers in place three times as long as have the typical domestic equity fund.

The selections: large cap value category, Sequoia; medium cap value, Babson Value; small cap value, Fidelity Low-Price Stock; large cap growth, Enterprise Growth; medium cap growth, AIM Constellation; small cap growth, PBHG Growth; large cap blend, AIM Value; small cap blend, Princor Emerging Growth.

Savings starts with a plan

Asking people to calculate how much they must save for retirement doesn’t work because the numbers are too overwhelming and retirement seems too far away, according to a recent survey of 1,000 adults by Putnam Investments, the mutual fund and money management company in Boston.

The survey found that three-quarters of working Americans receive retirement planning information from their employers, and workers say their employers are the best source because their information tends to encourage, not discourage, saving and investing.

Over all, the obstacle to saving is not fear or boredom, the survey found, but rather the lack of a good plan. Eighty-five percent of workers would like help in developing a savings plan based on current income. And 93 percent want employers to deduct money from their paychecks and put it into a retirement plan, preferably one that is tax-deferred.

Budgeting class Tuesday

Consumer Credit Counseling of Spokane will offer its “Money Smarts” workshop Tuesday at 1912 N. Division.

The two-hour class, which starts at 6 p.m., will explain how to track expenditures, provide money-handling tips, and supply a notebook and forms to assist with family financial planning.

The cost is $20, with no additional charge for spouses.

Call 327-3777 or 1-800-892-6854 for information.

, DataTimes