Bank and insurance companies perform worst
Recent research by Investment Week magazine shows that non-bank and non-insurance company investment funds perform better than those owned by the big banks and insurance companies.
The magazine compiled research from Morningstar, the funds rating agency, based upon three-year and ten-year performances, cross-referenced against volatility. Of the top 50 funds, 70% were managed by independent investment companies, with only 30% managed by banks and insurance companies. When you think that the majority of investments are made through insurance companies and banks, you get a sense that it is more about who pays the most commission, or who has the biggest sales force, rather than who is the best.
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