Ranga Chand's World of Mutual Funds, 1997 Edition

Marcia Sweet, formerly head of the Douglas Library’s
Information/Reference Unit at Queen’s University, is currently an
Ottawa-based information consultant and freelance editor.

This book is a systematic introduction to mutual-fund investing. Its
thrust is to maximize such investing. Chapters on each type of
investment (equity funds, income funds, etc.) identify “heavy
hitters” (companies and/or funds that meet certain criteria),
promising new funds, and “underachievers.” Other chapters analyze
mutual-fund rankings and returns over a five-year period, evaluate the
costs of investing, outline projected changes in regulations and
practice in the mutual fund business, and advise on how to keep informed
about specific mutual funds.

Although the book appears to be well researched and accurate, there are
minor lapses: Royal Life Science and Technology Fund appears in the
Summary but not in Rankings/Returns, which is the more important
listing; the glossary does not explain the term “Restricted,” which
describes some of the funds with the greatest returns (a potential
investor might spend a lot of time following up on a company only to
discover that he or she is not eligible to purchase the funds). Another
problem is that comparing information on specific investments to the
lists in the book is difficult because there is no index (although there
is a number that leads from the fund to its mother company, it is not
possible to go from the fund listing under the company name to the
category where the fund is rated). These are minor flaws, however, in an
otherwise clearly written, jargon-free, informative, and very useful
book.