DON'T BANK ON MUTUALS To generate bigger profits, more banks are creating their own mutual funds. Yet the typical bank fund has lagged behind the industry average for the past two years. In many cases, it has been the result of ultra-conservative management or late entry into the tech sector. Still, among the rubble, some gems can be found.
FUND BANK YTD RETURN %
WINNERS Galaxy II Utility Index Ret. Fleet Banking 45.01 Excelsior Energy & Nat. Resources U.S. Trust 33.59 Brinson U.S. Small Cap Growth I UBS Mgmt. 25.50
LOSERS Excelsior Emerging Markets U.S. Trust -30.31 Excelsior Pacific/Asia U.S. Trust...
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