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MUTUAL-FUND MYTHS EXPLODED

A bit self-serving for sure, but Investment Company of America, a mutual fund affiliated with the American Funds Group, says its own performance disproves a few myths about the industry. Such as: Large funds are too ponderous. But ICA is the No. 3 equity fund, with $5.4 billion invested, and it has averaged a 18.07 percent annual retun the past 10 years. Also: No investor or fund can consistently beat the market. But ICA has beaten the Dow and the Standard & Poor's 500 in all 10-year performance calculations for the past 21 years. It says $10,000 invested in ICA 30 years ago would be worth $321,656 now, vs. $145,644 in the Dow and $188,235 in the S&P 500.

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