51.   But research shows that funds with large cash positions underperform those that remain fully invested over the long term.

52.   But several VIA trustees said while investing bus company funds with a firm founded by Pena may not have been illegal, the practice was unethical.

53.   But some friends and advisers of Clinton have already set about designing a new fund with greater leeway in raising money.

54.   But plenty of funds with domestic labels have been buying abroad liberally.

55.   But the two funds with the best performances recently, the Limited Edition and Nicholas II funds, have had winners among medical device companies and service companies.

56.   But these are not the only explanations offered by funds with disappointing long-term records.

57.   But was the trouble serious enough to provide the pension funds with a way out of the loan?

58.   Certainly, it is not impossible for funds with high expense ratios to turn in healthy profits.

59.   Contrarian funds with large stashes of cash hold up the best in bear markets, but they cannot match these funds in long-term results.

60.   Consider two funds with exactly the same stock holdings.