May Fair

Funds enjoy a relatively calm month of gains despite economic rumblings

If May wasn't exactly a merry month for investors, it was at least more than fair. Mutual-fund investors certainly had to think so in a month when stock and bond funds put up respectable returns -- despite economic twists and turns that could've roiled the stock and bond markets. Woeful jobless figures were shrugged off. Continuing profit worries plagued stocks large and small. And, not to be outdone, the Federal Reserve chimed in late in the month with its fifth rate cut of 2001.

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