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Fabian's "lemon list" grows by 40 percent

Fabian's "Lemon List," a report on under-achieving mutual funds, grew by 40 percent in the third quarter, with 286 funds performing substantially below their peers. To make the list, a fund had to trail its peer group average by 25 percent in one-year performance and simply lag its peer group average in three and five-year performances.

The study, conducted for the first time this year, was done by Fabian Investment Resources of Huntington Beach, California. The complete list may be found on the firm's website,