Some of the mutual fund giants are the hubs of the worst-performing mismanaged bond and equity funds, and it is time for investors to take their money elsewhere, according to Doug Fabian, in his fourth quarter 2002 lemon list.

"There are certain fund companies I have seen as repeat offenders," said Fabian, editor of "Successful Investing," a 25-year-old investment advisory service. He named the Fidelity Adviser Funds, the firm's load funds, AIM Funds (specifically the AIM Premier Equity and AIM Balanced funds), Dreyfus, American Express and Alliance all as chronic offenders, among a host of others in the industry.

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