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By Lisbeth Wiley Chapman | Mar 3, 2000

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Lisbeth Wiley Chapman
617-983-0393

Funds of Funds Association Formed

(Lead)
MINNEAPOLIS -- In response to the dramatic growth of the newest mutual fund category, the Funds of Funds Association, a nonprofit organization, has been formed to provide accessible statistical data and educational material for the investing public and the media.

(Explain)
Funds of Funds are a group of mutual funds that are actively managed portfolios, including a wide variety of investment objectives and investment vehicles.

(Quote)
"Membership will be open to all fund companies offering Funds of Funds to the investing public," says Robert Markman, a founding principal of the association and portfolio manager for the Markman MultiFunds.

(Detail)
Benefits to members include a monthly newsletter with the following information:

Monthly updated statistical information on all member funds
Investment feature story focusing on portfolio managers' strategies
Legal and regulatory updates relating to Funds of Funds

(Rationale)
"There has been a dramatic, fivefold increase in the number of Funds of Funds for two reasons -- the increasing complexity of the mutual fund world and investors' lack of time. The confusion and time pressure inevitably lead to an offloading of responsibility for investment management to a third party," says Markman.

(Contact information or boilerplate)
Call 612-920-4848 to inquire about membership in the Funds of Funds Association.

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