New and Small Funds Will Be Rated
February 28, 2000
A new website that tracks funds that just started or are too small for a ticker symbol, was launched early last week by MAXfunds.com of Ann Arbor, Mich., according to Jonas Max Ferris, the company's president and co-founder.
The new site allows visitors to research new and small funds, Ferris said. Providing information on new and small funds is important because 70 percent of last year's top-performing funds did not exist three years ago, he said.
In the week since it opened, the site has added 1500 registered users, he said.
In the coming months, the company will offer a rating system for funds that are as little as three months old. The ratings will be based on a combination of several measurements including expense ratios and asset levels compared to those in similar style classes, Ferris said.
The company plans to market the site by hosting information scavenger hunts that require participants to find specific information on the site. Winners of the scavenger hunts will receive mutual fund shares. The company also has banner advertisements on search engine websites, Ferris said.