Three more online mutual funds quietly either closed to new investors or liquidated in January. Two of StockJungle.com's three remaining online funds as well as the Allied Owners Action Fund have joined four other virtual mutual funds that liquidated in December. The three funds failed to attract enough attention or amass enough assets. Of the dozen odd online funds created since 1999, seven remain open.
The Stock Jungle.com Market Leaders Growth Fund and the StockJungle.com Pure Play Internet Fund were closed in late January, said Brian Levy, president and chief operating officer of StockJungle.com of Los Angeles. The two funds, which were introduced in November 1999, had attracted a total of $700,000, according to Morningstar of Chicago.