4 Promising New Funds: No track record? No problem. Bill Miller's latest venture and three others are worth a shot

摘要

INVESTING IN A NEW MUTUAL fund often requires a leap of faith. But if the fund has an experienced manager, charges low fees or offers a strategy that can add some pizazz to your portfolio, the jump may be worth making. For years, the name Bill Miller was synonymous with excellence. Under his guidance, Legg Mason Value beat Standard & Poor's 500-stock index for 15 straight years, a record no other fund has come close to matching. But Value imploded in 2008, losing 55% and tarnishing Miller's reputation. Miller no longer runs Value, but another fund he manages, Legg Mason Opportunity, skyrocketed 68% in 2013.