91.   But that kind of thinking is harder to find at many fund companies.

92.   But now, fund companies say that there are modest inflows to American bond funds.

93.   But the fact that the number of funds is so small suggests that fund companies are not convinced of the usefulness of the quantitative approach outside the United States.

94.   But several fund companies said bond fund outflows resumed in June.

95.   But the increase in borrowing certainly gives fund companies and market analysts something else to be concerned about.

96.   But those fund companies choosing to grow by acquisitions or mergers are encountering a paradox.

97.   But with some fund companies, especially smaller ones, there is often some leeway for an investor to wiggle in.

98.   Buying a whole fund company, however, makes little sense.

99.   By broadening its array of offerings, a fund company can lower expenses by spreading the cost.

100.   By setting up its own insurance company, Fidelity gains an advantage over fund companies that might go to outside insurers for coverage.