Bank Funds: Playing Catch Up

George Saffaye would love the convenience of buying mutual funds at his bank. But banks haven't exactly offered the 29-year-old Manhattan sales manager the kinds of products he wants. "They're all dogs," says Saffaye, echoing a common view held by many investors. Indeed, mutual funds sold by banks have traditionally been heavy on loads and light on providing investors with consistently strong long-term results.

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