Standard & Poor’s of New York announced last week that it had removed its 'Select Fund' designation from the Fifth Third: Pinnacle Fund/A, a series of Fifth Third Funds, of Pittsburgh, because of its continuous under-performance in comparison to funds with the same investment style.

Standard & Poor’s 'Select Funds' is a trademarked label awarded to a small number of funds whose consistency of performance and quality of management indicate a continuing level of excellence, according to Standard & Poor's . About 300 mutual funds have been awarded the status.

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.