I am just looking for numbers and this is an open question for anyone that has a handle on the figure(s). For what it's worth I consider the 5-10 share classes of a fund (e.g. American Capital Income Builder) to be one and the same fund albeit with and w/o loads and varying fees. The same goes for Fidelity's Advisor series of funds which I think in most cases are just knockoffs of their pedestrian offerings. Thanks in advance.
Comments
Art
Art
Equity Funds # http://www.allaboutfunds.com/performance/iops.pdf
Fixed Income Funds # http://www.allaboutfunds.com/performance/fixed_iops.pdf
Regards,
Ted
Walk through the Morningstar screen:
Distinct portfolios = 6915, but that does count Fido Emerging Markets twice (Advisor and retail apparently have just enough differences...)
Qualified access = "no" leads to 1391 funds. Here's Morningstar's definition of that screen: "This group includes funds that restrict investment to a certain group of investors. Sometimes, the restriction is based on religious or ethnic membership, e.g. Lutherans. Sometimes, the restriction is based on membership in a certain investment plan, e.g. a retirement plan or college-savings plan."
Minimum purchase of no more than $10,000 = 1272.
Open to new investment = 1206.
No-load funds = 592.
That number is doubtless wrong but it probably gives you an order of magnitude. For practical purposes, the no-load universe is likely under a thousand even including those "A" class funds available for purpose at NAV through supermarkets.
David
As of Dec 2012, I count 25517 funds total (includes ETFs, but not CEFs), all share classes.
But oldest share class, only 8885 (Asset Allocation, 1208; Equity, 5271; Fixed Income, 1909; Money Market, 497). Includes 1410 ETFs.
More later, gotta run...beach is calling!
Some context - I was looking for a number more steeped in reality after glancing through an earlier article (and many others written before it) where it was stated that very few actively managed funds are able to beat the S&P 500 or in some cases they just say "the market'. Numbers are hardly ever stated or given for the former and the latter usually clocks in at somewhere between 8000-9000 sometimes including ETF's and sometimes not. I guess I am going to have to go with the M* number of 6915 even though it contains, at least to my way of thinking, one double for sure and who knows how many others.
As for gaining a more precise accounting for "few" I'm not expecting that to happen anytime soon. Yes I'm aware of the studies but I wouldn't consider those figures as equating to 'very few'.
BTW, I count 767 fund families and 1420 advisors. Can you believe?!
For the record, here are all 767 families...in two posts (1-M, N-Z)
13D Management
1492 Capital Management, LLC
361 Funds
AAM
Aberdeen
Absolute Strategies
AC ONE
Academy
Acadian Funds
Adams Harkness Funds
Adirondack Funds
Advance Capital I
Advantus
AdvisorOne Funds
Advisors' Inner Circle (Chartwell)
ADVISORS SERIES TRUST(Davidson)
AdvisorShares
Advisory Research
Aegis
AIS Capital Management LLC
Akre
Al Frank
Alger
AllianceBernstein
Allianz Funds
Allianz Global Investors
Allied Asset
Alpha Capital Funds
AlphaClone
AlphaMark
AlphaOne Investment Services, LLC
Alpine
ALPS
Altegris
AmericaFirst Funds
American Beacon
American Century Investments
American Funds
American Growth
American Independence
American Money Management
American Pension Investors
American Trust
Ameristock
AMF
AMIDEX
Ancora
Angel Oak Capital Advisors, LLC
Apex Capital Management
Appleseed Fund
Appleton
AQR Funds
Aquila
Arbitrage Fund
Archer
Arden Asset Management LLC
Ariel Investments, LLC
Aristotle
Armstrong Associates
Arrow
ArrowShares
Artio Global
Artisan
Ascendant
Ascentia Capital Partners
Ashmore
Aston
Astor
ATAC Fund
Auer
Auxier Funds
Ave Maria Mutual Funds
Avenue Capital Group
Aviemore Funds
Azzad Fund
Baird
Bandon Capital Management, LLC
Bank of America Corp
Barclays Funds
Baron Capital Group
Barrett
BBH
Bearly Bullish Fund
Beck, Mack & Oliver
Becker
Beech Hill
BeeHive
Bennett Group Master Funds
Berkshire
Bernzott Capital Advisors
Berwyn
Biondo Investment Advisor
Birmiwal
Bishop Street
BlackRock
Blue Chip Investor Fund
BMO Funds
BNY Mellon Funds
Bogle
Boston Advisors Trust
Boston Common Asset Management, LLC
Boston Trust & Walden Funds
Boyar Value Fund
BPV Family of Funds
Brandes
Brandywine
Braver Wealth Mangaement, LLC
Bretton Fund
Bridgehampton
Bridges
Bridgeway
Bright Rock
Brookfield Investment Management Inc.
Brown Advisory Funds
Brown Capital Management
Bruce
BTS
Buffalo
Burnham
Bushido
Calamos
Caldwell & Orkin
Calvert Investments, Inc.
Cambiar Funds
CAMCo
Camelot Portfolios, LLC
Capital Advisors
Capital Guardian Trust Company
Capital Innovations, LLC
Capital Management
Capstone
Caritas Capital LLC
Carne
Castle Investment Management
Catalyst Mutual Funds
Causeway
Cavanal Hill funds
CBRE Clarion Securities LLC
Center Coast Capital Advisers LP
Century Funds
CGM
Chaconia Funds
Chadwick & D'Amato
Champlain Funds
Changing Parameters, LLC
Chase
Chesapeake
Cheswold Lane Asset Management
Chou America
Christopher Weil & Company, Inc.
Cincinnati Asset Management Funds
Citigroup
Clarity Fund
Clark Capital Management Group, Inc.
Clark Fork Trust
Clear River
Clipper Fund
Cloud Capital
CM Advisors
CMG
CNI Charter
Cohen & Steers
Coldstream
Collins Capital Investments, LLC
Columbia
Commerce
Commonwealth Intl Series Tr
Compak
Compass EMP
Concorde
Conestoga Capital Advisors
Congress
Congressional Effect Family
Contravisory Investment Management, Inc.
Convergence
Cook & Bynum Capital Management, LLC
Copeland Capital Management
Copley
CornerCap
Cornerstone
Cortina Funds, Inc.
Country
Cove Street Capital
CRAFund
Crawford
Credit Suisse (New York, NY)
Credit Suisse AG
CRM
Croft
Crow Point Partners, LLC
Cullen Funds Trust
Cushing
Cutler
Cutwater Asset Management Corp.
CWC
Davidson Mutual Funds
Davis Funds
Davlin Philanthropic Fund
Day Hagan
Dean Fund
Delaware Investments
Destra
Deutsche Bank
DF Dent Funds
DGHM
DGI
Diamond Hill Funds
Dimensional Fund Advisors
Direxion Funds
DMS FUNDS
Dodge & Cox
Domini
DoubleLine
Dreman
Drexel Hamilton Investment Partners, LLC
Dreyfus
Driehaus
DSM
DundeeWealth Funds
Dunham Funds
DuPont
Dupree
DWS Investments
E.I.I.
Eagle
Eagle Funds
EAS Genesis
Eaton Vance
Edgar Lomax
Edgewood
Elessar Investment Management
Emerald
Emerging Global Advisors
Empire Builder
Empiric Funds
Encompass Fund
EntrepreneurShares
Epiphany Funds
Equinox Funds Trust
Equity Investment Corp
Estabrook
ETF Securities Ltd
Euro Pacific Asset Management
Euro Pacific Halter Asia Management, Inc
Eventide Funds
Evermore
Exchange Traded Concepts, LLC
Factor Capital Management, LLC
Fairfax
Fairholme
FAM
FAM Funds
FCI Funds
FDP Series Funds
Federated
Fidelity Investments
Fiduciary Asset Management, LLC
Financial Investors Trust (Aspen)
Financial Investors Trust (Grandeur)
First American
First Eagle
First Investors
First Trust
First Western Capital Mgt
Firsthand Funds
Flex-funds
FMC Funds
FMI Funds
FolioMetrix
Forester
Formula Investing, LLC
Fort Pitt Capital Funds
Forward Funds
Fountainhead Funds
FPA
Frank Funds
Franklin Templeton Investment Funds
Freedom Funds
Frontegra Asset Management Inc
Frontegra Funds
Frost Funds
Fund X
FX Strategy Fund
Gabelli
GaveKal
GE Asset Management
Geier Funds
Geneva Funds
Gerstein Fisher
Giant 5 Funds
Ginkgo
Glenmede
GLG Inc
Global X Funds
GMG
GMO
Golden Capital Funds
Goldman Sachs
Golub
GoodHaven
Gotham
Granite Investment Advisors, Inc.
Grant Park
Great Lakes Funds
Great-West Funds
Green Century
GreenHaven
Greenspring
GRT
Guggenheim Investments
GuideMark
GuidePath
GuideStone Funds
Guinness Atkinson
Hagin Capital, LLC
Hamlin Capital Mgt LLC
Hancock Horizon
Hancock Horizon Funds
Hansberger Funds
Harbor
Harding Loevner
Hart Group, Ltd.
Hartford Mutual Funds
Hatteras Alternative Mutual Funds Trust
Haverford
Heartland
Henderson Global
Hennessy
Henssler Funds
HighMark
Hillman Capital Management
HNP Capital LLC
Hodges
Holland Series Trust
Homestead
Hotchkis and Wiley
HSBC
Huber Funds
Hundredfold
Huntington
Huntington Strategy Shares
Hussman Funds
ICM Series Trust
ICON Funds
Iknetics Capital Partners, LLC
IMS
IndexIQ
ING Funds
ING Retirement Funds
Innealta Capital
Institutional Advisors LLC
Institutional Investors
Integrity
International Securites Exchange
Intrepid Funds
Invesco
Investment House LLC
Investment Partners
Iron Funds
IronBridge Funds, Inc.
Ironclad Funds
iShares
ISI Funds
IVA Funds
Ivy Funds
Jacob
Jacobs Broel
JAG Advisors
James Advantage
Janus
Jensen
John Hancock
Johnson Mutual Funds
Jordan Funds
JPMorgan
JPMorgan Asset Mgmt (Europe) S.a.r.l.
JPMorgan Funds
Jubak
Kalmar Pooled Investment Trust
KCM
Keeley
Kellner
Keystone
Kinetics
Kirr Marbach Partners
KKR
Kottke
Kovitz Investment Group, LLC
Lacerte Capital
Lateef Investment Management, L.p.
Laudus Funds
Lawson Kroeker Investment Management Inc
Lazard
LEADER
Leavell
Lee Financial Group Inc
Leeb
Legg Mason
Legg Mason/Western
Leuthold
Liberty Street
Lifetime Achievement Fund Inc
Lincoln Financial Group
Linde, Hansen & Co., LLC
Litman Gregory Masters Funds
LKCM
LoCorr Fund Management, LLC
Logan Capital
Long Short
Longboard
Longleaf Partners
LongView Capital Management LLC
Loomis Sayles Funds
Lord Abbett
LSV Fund
M.D. Sass Investors Services, Inc.
Madison Mosaic
MAI
MainGate Trust
MainStay
Mairs & Power
Makefield
Managed Futures Solutions Fund
Managers Funds
Manning & Napier
Manor Investment Funds
Marathon Funds
Mariner Fund Group
Marketocracy Funds
Marsico Investment Fund
Martin Capital Management LLP
MassMutual
Matrix/LMH
Matthew 25
Matthews Asia Funds
McKee Funds
Meehan Focus
MEMBERS
Merger
Meridian
Merk Funds
Merrill Lynch
Metropolitan West Funds
MFS
MH Elite
Midas
Milestone
Miller Investment
Milliman
Mirae Asset Global Investments (USA) LLC
MMA Praxis
Monetta
Monteagle Funds
Morgan Dempsey Capital Management, LLC
Morgan Stanley
Morgan Stanley & Co
Morgan Stanley (New York)
Motley Fool
MP 63
Muhlenkamp
Munder
Mundoval Funds
Mutual of America
Mutualhedge
Muzinich
Nationwide
Natixis Funds
Needham
Neiman Funds
Neuberger Berman
New Alternatives
New Century Portfolios
New Covenant
NEW Path Capital Advisors
Nicholas
Niemann
Nile Capital Investment Trust
Nomura Partners Funds
North Country Funds
North Star Investment Management Corp.
NorthCoast
Northeast Investors
Northern Funds
Northern Lights Fund Tr (Criticalmath)
Northern Lights Fund Trust
Northern Lights Fund Trust (GPS)
Northern Lights Fund Trust (SCA)
Northern Lights Fund Trust(Giralda)
Northern Trust
Northquest Capital Fund Inc
Nottingham
Nuance Communications
Nuance Investments, LLC
Nuveen
Nuveen Investments
Nysa
Oak Associates
Oakmark
Oberweis
Oceanstone
OCM
Old Mutual Investment Funds
Old Westbury
Olstein
OppenheimerFunds
Oracle
Orinda Asset Management, LLC
O'Shaughnessy Mutual Funds
Osterweis
Osterweis Capital Management
OutfitterFunds
Pacific Advisors Funds
Pacific Capital
Pacific Financial
Pacific LifeFunds
Palmer Square Capital Management LLC
Papp
Paradigm Funds
Parnassus
Pathway Advisors
Patriot
Pax World
Paydenfunds
Payson Funds
Pear Tree Funds
Pennant
Perimeter Capital
Perkins
Permanent Portfolio
Perritt
Philadelphia Invmt Ptnrs New Generation
Phocas
PIA Mutual Funds
Piedmont
PIMCO
Pinnacle
Pinnacle Capital Management
Pioneer Investments
Plainsboro Funds
Plan Investment Fund
PMC Funds
PNC Funds
Polaris Funds
Polen Capital Management Inc
Pope Family Of Funds
Poplar Forest Capital
Portfolio 21
Portfolio Strategies Inc
Potkul Funds
Power Income Fund
PowerShares
Prasad Series Trust
Precidian Funds LLC
Preservation Trust Advisors
Presidio Funds
Primary Trend
PRIMECAP Odyssey Funds
Princeton
Principal Funds
Private Capital Management
Profit Funds Investment
ProFunds
ProShares
Prospector Funds
Prudential Investments
Purisima Funds
Putnam
Pyxis Funds
Quaker
Quantitative Services Group LLC (QSG)
QuantShares
Queens Road Funds
Rainier
Ramius
Ranger Funds Investment Trust
RBB Funds
RBC Global Asset Management (U.S.) Inc.
Reaves Select Research
Redmont
Reich & Tang
Reinhartfunds
Renaissance Capital Greenwich Funds
Reynolds
Rice Hall James
RidgeWorth
Risk Paradigm Group, LLC
River Park Funds
RiverNorth Funds
RNC Genter Capital Management
Robeco Investment Funds
Robeco Investment Management, Inc.
Rochdale
Rocky Peak Capital
Roge Partners Fund
Roosevelt
Roxbury Funds
Royal Bank of Scotland NV
Royce
RS Funds
Russell
S1 Fund
SA Funds
Salient Funds
Samson
Sandalwood
Sands Capital
Saratoga
Satuit Capital Management Trust
Saturna Capital
Scharf Investments (California)
Schneider Funds
Schooner Funds
Schroder
Schwab Funds
Schwartz
Scout
Seafarer
SEI
Selected Funds
Sentinel
Sequoia
Shelton Capital Management
Shenkman Capital Management, Inc.
Sierra Trust
SignalPoint
Sit
Smead Funds
SMH Capital Advisors
Smith Barney
Snow Capital Management L.P.
Sound Mind
Sound Shore
SouthernSunFunds
Sparrow
Spirit of America
STAAR Investment Trust
Stadion Funds
State Farm
State Street Global Advisors
State Street Master Funds
SteelPath
Sterling Capital Funds
Stewart Capital
Stone Harbor
Stonebridge
Stralem Fund
Strategic
Strategic Income Management, LLC
Stratton
Stratus Fund
Stream Exchange Traded Trust
STW Fixed Income Management LLC
Summit Global Investments
SunAmerica
Sustainable Growth Advisers
Swan
Swank
Swedish Export Credit Corporation
Symons
T. Rowe Price
TacticalShares
Tanaka
Target Program
Tatro Capital, LLC
Taylor
TCM Funds
TCW
TD Asset Management
TEAM
Teberg
Teucrium
TFS Capital Funds
TheCollarFund
Thesis
Third Avenue
Thomas White Funds
Thompson IM Funds, Inc.
Thomson Horstmann & Bryant, Inc.
Thornburg
Thrivent
TIAA-CREF Mutual Funds
Tiedemann Wealth Management, LLC
Tilson Funds
Timberline Asset Management LLC
Timothy Plan
Tocqueville
Toews Funds
Toreador
Torray
Tortoise Capital Advisors, L.L.C.
Touchstone
Towle & Co
Transamerica
Transparent Value Funds
Transparent Value Trust
Tributary Funds
Trust for Credit Unions
Trust for Professional Mgrs(PTIA)
TS&W Funds
Turner Funds
Tweedy Browne
Two Oaks Investment Management, Inc.
U.S. Global Investors
UBS
UBS AG
UCM
United Association Funds
United States Commodity Funds LLC
Upright Investments Trust
USA Mutuals
USAA
VALIC
Valley Forge
Value Line
Van Eck
Van Hulzen Asset Management, LLC
Vanguard
Vantagepoint Funds
Vericimetry Funds
VFM
Victoria1522
Victory
Viking
Villere
Virtus
Volumetric
VRM Funds
VTL Associates, LLC
Vulcan Value Partners
W.P. Stewart
Waddell & Reed
Wade Financial
Wakefield Asset Management LLLP
Wall Street
Wall Street EWM Funds Trust
Walthausen Funds
Wanger
Wasatch
WBI FUNDS
WCM Investment Management
Wegener
Weitz
Wells Fargo Advantage
Wentworth, Hauser and Violich
WesMark
Westcore
Westfield Capital Management Company, LP
Westport Funds
Westwood
Whitebox Advisors, LLC
Whitebox Mutual Funds
William Blair
Williamsburg Investment Trust
Wilmington Funds
Wilshire Mutual Funds
Wintergreen Funds
Wireless
Wisconsin Capital Management
WisdomTree
WOA
World Funds
World Funds, Inc
WorldCommodity Funds
Wright
Zacks WMG
Zeo
Ziegler Lotsoff Capital Management Inv