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Fund Company Stocks Beat Their Own Funds

Consolidation pumps up publicly traded fund firm shares.

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This year has been pretty hard on mutual-fund shareholders, but pretty good for those who invested in mutual-fund companies.

Through the end of last week, the stocks of publicly traded money managers were among the top 20 performing industries in 2000, according to's database. The group-- which includes Amvescap (AVZ), the London-based parent of Invesco Funds and AIM Capital Management, and Stilwell Financial (SV), the holding company for Janus Capital--was up nearly 43% for 2000 through Friday. Meanwhile, the average domestic-equity fund had fallen 2% this year over the same time period.

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.