Is Your Financial Adviser Acting in Your Best Interest?By
CreditJake Naughton for The New York Times
This is a tale of two mutual funds with abysmal performance — but very different reactions from their investors to their returns.
The Ivy Asset Strategy — which is known as a total return fund, because it tries to maximize gains through a variety of investment strategies — ranked in the 99th percentile in 2016, according to Morningstar, meaning that investors could scarcely do worse.
The Waddell & Reed Asset Strategy, also a total return fund, ranked in the 97th percentile in the same class…
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