Investment adviser Doug Fabian warned investors of load funds in his most recent installment of the Lemon List, saying they could be hit with a double whammy if they buy into these funds. Things were so sour among these products that 75% of the 601 funds on the list not only severely lag their benchmarks, but also charge a commission and high management fees.

Fabian, editor of the 26-year old investment advisory service, Successful Investing, publishes the list once a quarter. To make the list, a lemon must trail its benchmark by 25% for the past 12 months and underperform for the past three- and five-year periods.

The Janus Worldwide Fund made its lemon debut, grabbing the top slot of the list. In less than three years the fund has dropped $31 billion, or 73.5% of its total asset value.

Also making the top 10 list were Oppenheimer Rochester Fund Municipals, Fidelity Advisor Equity Growth, AIM Premier Equity B, American Express Financial AXP Bond A, Vanguard LS Growth, Prudential Growth, MFS Capital Opportunities, AIM Balanced Fund and the Oppenheimer Capital Income.

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