Personal Business: INVESTING
TABLE: Funds That Take Their Cues From Computers
FUND STRATEGY 3-YEAR RETURN*
FIDELITY STOCK Complex mathematical "black box" 18.65%
SELECTOR crunches reams of data and spits
out lists of stocks with aggressive
growth prospects at fair values.
QUANTITATIVE Model sorts data on small-cap stocks 30.96
NUMERIC every 30 seconds, looking for value
and rising earnings estimates. Turnover
rate is 350% a year.
VANGUARD Fund seeks sector weightings and risk 15.06
QUANTITATIVE characteristics of the S&P 500, but
better performance. Computer runs 3,500
stocks through 30 models.
VISTA GROWTH Seeking value plays, managers run a model 13.76
& INCOME monthly, narrowing down a list of 2,500
stocks, then following up with fundamental
* Average annualized total return through Aug. 31, 1995
DATA: COMPANIES, MORNINGSTAR INC.