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3 Good Funds Having a Great Year

These Morningstar Medalists' returns are near the top of their respective categories in 2020.

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It's already the middle of the fourth quarter of 2020. Today, we're looking at three highly rated funds having great years, with returns that currently land near the top of their respective categories.

Morgan Stanley Institutional Discovery is a top performer this year among funds in Morningstar's mid-cap growth category. The fund's concentrated, high-growth style lends itself to boom-and-bust returns over short time periods. And 2020 has been quite a boom for the fund, with top holdings like Zoom Video Communications and Shopify posting outsize gains this year. According to Morningstar's Katie Reichart, the fund's relatively concentrated and sector-agnostic portfolio means investors in this fund need a stomach for volatility. That being said, we like the managers' process that blends companies that dominate their markets with less-established industry disruptors.

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