21.   That could be a turning point for the fund, which has not beat the index in the last four years.

22.   That makes Vanderheiden one of only a handful of diversified fund managers to beat the index over such a long period.

23.   That rewarded consistency but did not eliminate top funds that slipped occasionally although they beat the index over all.

24.   The fund that beats an index is unlikely to keep quiet about it.

25.   The recent slowdown has come as actively managed stock funds have begun beating indexes for the first time in years.

26.   The trend of managed funds beating the indexes shows across the entire large-cap universe.

27.   They are not trying to beat the index, nor will they invest in a way that causes them to significantly underperform it.

28.   To beat the index, the managers of the enhanced funds must tweak their portfolios.

29.   Two funds that Pimco manages for other firms, Fremont Bond and Harbor Bond, also beat the index.

30.   Unless something upsets the markets in the next two weeks, this will be the third quarter in a row in which active stock fund managers beat the index.