Standard & Poor's of New York is joining the growing number of companies that rank mutual funds and will soon be bestowing a "Select" status on mutual funds that meet its standards. S&P's expects less than 10 percent of mutual funds will meet its qualifications. The standards go beyond performance to scrutinize current and historical holdings, and management style.

S&P will publish its lists of "Select" mutual funds in various sector categories over the next few months, beginning with large-cap growth stocks this month, small-cap growth stocks in April and mid-cap growth stocks in May. Altogether, S&P plans to cover 15 sectors, including value, blend, international, fixed income and balanced funds.

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