Big is beautiful in the mutual fund business. Even clunkers, if they are large enough, can use huge ad budgets to rake in new investments. They can attract assets by running retirement plans for sizable employers. Investors believe big is better, and often it is: Funds with more than $5 billion in assets returned 11.9% a year in the past decade, compared with just 9.2% for those with less than $1 billion on hand, says fund tracker Lipper.
展开▼
