"Go anywhere" funds don't conform to a set type, but could fit your portfolio. IMAGINE IF YOU WERE FORCED to shop only on your block, even though you knew better bargains existed at the stores across town. Few people want such constraints, and that includes investors trying to rebuild their portfolios in a shaky market. Increasingly, people are looking for fund managers who are free to roam the world and hunt in different asset classes to turn up the best bargains. According to mutual fund consultant Strategic Insight, investors plowed almost $18 billion in new money into "go any where" stock funds in 2009 - a large figure in itself, but even more remarkable since last year stock funds, in general, had as much money taken out of as put into them. Some of these funds have gotten rather large. After a year of solid returns and with billions of dollars poured into it by investors, the $36 billion BlackRock Global Allocation fund (highlighted in March's "Award-Winning Funds") is now one of the nation's 25 biggest mutual funds.
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