The U.S. News & World Report today named its mutual fund winners for 2012, including a once-fallen star manager and a mutual fund trade group.

The pub gave kudos to Bruce Berkowitz, founder of The Fairholme Fund, which rebounded from losing 32% in 2011 to gaining 37% year-to-date through Dec. 20. It also recognized the Investment Company Institute for managing “to forestall any changes to the structure of money market funds—at least for now.” However, the Financial Stability Oversight Council has forged ahead with reforms sans Mary Schapiro.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.