11.   Although short-term funds have less generous yields, they provide something of a buffer if interest rates rise.

12.   Also, a big fund has a difficult time buying stocks without driving the price up, and selling stocks without driving the price down.

13.   Although each fund usually has an individual manager, a common research department supplies the same analysis to all managers interested in a specific industry.

14.   Also, unlike a bond, a bond fund has no final maturity.

15.   And the fund now has a bundle of cash on hand for bargain-hunting.

16.   And realize that closed funds have two ways to win -- and two ways to lose.

17.   And some funds have longer average weighted maturities then one year.

18.   And with little cash on hand, some funds no doubt had to dump stocks.

19.   And, in a swooning market, index funds might not have obvious appeal.

20.   Another area of the market where the fund has big holdings is in the energy services area.