Specialized Funds—Which One Looks Best?

by David Jenyns on April 10, 2009

The types of mutual funds most investors deal with are, of course, the load type.

There is another type which is no-load in nature. It is marked by absence of the load charge, or sales commission charged by most open-end investment companies.


About 10 percent of mutual funds are the no-load type, with Energy Fund Inc. attracting the most recent attention.

While most no-load funds are of the balanced type, Energy Fund specializes in industries operating in the energy fields. “With capital gains its prime target,” said Financial World, “the fund’s portfolio is weighted heavily with growth stocks in the various fields relating to energy.

The emergence of such special-type funds as Oppenheimer illustrates an interesting trend among newcomers to the industry. Samson Convertible Securities and Capital Fund invest chiefly in convertible debentures. Deserving special mention are the so-called stock-swap funds which offer their shares in a tax-free exchange for individual holdings. The swap fund idea was conceived in 1960 to help investors who are locked into large capital gains.

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