The Barron Asset, Matthews Asian and Rainier Investment funds respectively topped a list rating mutual fund families for exercising fiduciary responsibility, the Pittsburgh Post-Gazette reports.
Fiduciary Analytics, an independent fiduciary research company, in its latest quarterly report also ranked The Vanguard Group , Schwab Funds and T Rowe Price Funds among the 10 best fiduciaries in the mutual fund business . Harbor Funds , Vantagepoint Funds and N/I Numeric Investors appeared at the bottom of a list ranking the top 25 mutual fund providers.
Fiduciary Analytics for years has advocated uniform methods for evaluating mutual fund providers because ambiguous standards currently employed by The U.S. Department of Labor leave pension plan providers with few useful perimeters for selecting qualified asset managers.
The firm now uses a proprietary screening system comprised of more than 20 variables like performance ranking, assets under management and expenses to generate a ranking of fiduciary responsibility.