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How many unique mutual funds are there?

edited March 2013 in Fund Discussions
I am just looking for numbers and this is an open question for anyone that has a handle on the figure(s). For what it's worth I consider the 5-10 share classes of a fund (e.g. American Capital Income Builder) to be one and the same fund albeit with and w/o loads and varying fees. The same goes for Fidelity's Advisor series of funds which I think in most cases are just knockoffs of their pedestrian offerings. Thanks in advance.

Comments

  • About 8850, oldest share class.
  • Reply to @Charles: How did you account for Fidelity Advisor series funds vs. Fidelity Retail funds? They are not different share classes of the same fund but managed similarly sometimes (the seemingly corresponding funds from Advisor and Retails do not always have the same managers)
  • edited March 2013
    Reply to @Charles: You sure? Something tells me that figure represents the combined total of all mutual funds available which is why I asked the question in the first place. Per my example the American Capital Income Builder fund should only be counted 'once' (1) and not separately for the A, B, C, .....X, Y and Z classes (26 possible).
  • Using the M* Premium Screener and the only criteria is a " Distinct Potfolio Only-Yes they list 6915 funds in all categories. Is this what the answer you are looking for?

    Art
  • Reply to @Art: Again, I'm not totally sure but that seems more reasonable assuming the "distinct portfolio" qualifier. It still seems like a ridiculous number but it is what it is.
  • Mark, If you continue the screen and add Open funds-No load-Min. purchase <$5000.00 you get 2509 funds.

    Art
  • "Unique funds"? Uhhh ... about three.

    Walk through the Morningstar screen:

    Distinct portfolios = 6915, but that does count Fido Emerging Markets twice (Advisor and retail apparently have just enough differences...)

    Qualified access = "no" leads to 1391 funds. Here's Morningstar's definition of that screen: "This group includes funds that restrict investment to a certain group of investors. Sometimes, the restriction is based on religious or ethnic membership, e.g. Lutherans. Sometimes, the restriction is based on membership in a certain investment plan, e.g. a retirement plan or college-savings plan."

    Minimum purchase of no more than $10,000 = 1272.

    Open to new investment = 1206.

    No-load funds = 592.

    That number is doubtless wrong but it probably gives you an order of magnitude. For practical purposes, the no-load universe is likely under a thousand even including those "A" class funds available for purpose at NAV through supermarkets.

    David
  • edited March 2013
    Reply to @Mark & Investor:

    As of Dec 2012, I count 25517 funds total (includes ETFs, but not CEFs), all share classes.

    But oldest share class, only 8885 (Asset Allocation, 1208; Equity, 5271; Fixed Income, 1909; Money Market, 497). Includes 1410 ETFs.

    More later, gotta run...beach is calling!
  • Thank you everyone.

    Some context - I was looking for a number more steeped in reality after glancing through an earlier article (and many others written before it) where it was stated that very few actively managed funds are able to beat the S&P 500 or in some cases they just say "the market'. Numbers are hardly ever stated or given for the former and the latter usually clocks in at somewhere between 8000-9000 sometimes including ETF's and sometimes not. I guess I am going to have to go with the M* number of 6915 even though it contains, at least to my way of thinking, one double for sure and who knows how many others.

    As for gaining a more precise accounting for "few" I'm not expecting that to happen anytime soon. Yes I'm aware of the studies but I wouldn't consider those figures as equating to 'very few'.
  • Reply to @Investor: Yes indeed! There are 640 "Fidelity Advisor" funds of various share classes but really "only" 98. Similarly, there are 1079 funds in the Fidelity Investments family, but really "only" 370, ignoring share class.
  • edited March 2013
    Yeah Mark, close enough...

    image

    BTW, I count 767 fund families and 1420 advisors. Can you believe?!
  • Reply to @Charles: even harder to believe is the sheer number of individuals investing in this number of funds, from that many fund families on the advice of that many advisors with a preponderance of evidence suggesting that it is all hopeless because only a few will ever be winners. Go figure.
  • Reply to @Charles: If you're checking Morningstar, please note that many of the fund families are non-U.S.
  • Reply to @David_Snowball: Yes indeed.

    For the record, here are all 767 families...in two posts (1-M, N-Z)

    13D Management
    1492 Capital Management, LLC
    361 Funds
    AAM
    Aberdeen
    Absolute Strategies
    AC ONE
    Academy
    Acadian Funds
    Adams Harkness Funds
    Adirondack Funds
    Advance Capital I
    Advantus
    AdvisorOne Funds
    Advisors' Inner Circle (Chartwell)
    ADVISORS SERIES TRUST(Davidson)
    AdvisorShares
    Advisory Research
    Aegis
    AIS Capital Management LLC
    Akre
    Al Frank
    Alger
    AllianceBernstein
    Allianz Funds
    Allianz Global Investors
    Allied Asset
    Alpha Capital Funds
    AlphaClone
    AlphaMark
    AlphaOne Investment Services, LLC
    Alpine
    ALPS
    Altegris
    AmericaFirst Funds
    American Beacon
    American Century Investments
    American Funds
    American Growth
    American Independence
    American Money Management
    American Pension Investors
    American Trust
    Ameristock
    AMF
    AMIDEX
    Ancora
    Angel Oak Capital Advisors, LLC
    Apex Capital Management
    Appleseed Fund
    Appleton
    AQR Funds
    Aquila
    Arbitrage Fund
    Archer
    Arden Asset Management LLC
    Ariel Investments, LLC
    Aristotle
    Armstrong Associates
    Arrow
    ArrowShares
    Artio Global
    Artisan
    Ascendant
    Ascentia Capital Partners
    Ashmore
    Aston
    Astor
    ATAC Fund
    Auer
    Auxier Funds
    Ave Maria Mutual Funds
    Avenue Capital Group
    Aviemore Funds
    Azzad Fund
    Baird
    Bandon Capital Management, LLC
    Bank of America Corp
    Barclays Funds
    Baron Capital Group
    Barrett
    BBH
    Bearly Bullish Fund
    Beck, Mack & Oliver
    Becker
    Beech Hill
    BeeHive
    Bennett Group Master Funds
    Berkshire
    Bernzott Capital Advisors
    Berwyn
    Biondo Investment Advisor
    Birmiwal
    Bishop Street
    BlackRock
    Blue Chip Investor Fund
    BMO Funds
    BNY Mellon Funds
    Bogle
    Boston Advisors Trust
    Boston Common Asset Management, LLC
    Boston Trust & Walden Funds
    Boyar Value Fund
    BPV Family of Funds
    Brandes
    Brandywine
    Braver Wealth Mangaement, LLC
    Bretton Fund
    Bridgehampton
    Bridges
    Bridgeway
    Bright Rock
    Brookfield Investment Management Inc.
    Brown Advisory Funds
    Brown Capital Management
    Bruce
    BTS
    Buffalo
    Burnham
    Bushido
    Calamos
    Caldwell & Orkin
    Calvert Investments, Inc.
    Cambiar Funds
    CAMCo
    Camelot Portfolios, LLC
    Capital Advisors
    Capital Guardian Trust Company
    Capital Innovations, LLC
    Capital Management
    Capstone
    Caritas Capital LLC
    Carne
    Castle Investment Management
    Catalyst Mutual Funds
    Causeway
    Cavanal Hill funds
    CBRE Clarion Securities LLC
    Center Coast Capital Advisers LP
    Century Funds
    CGM
    Chaconia Funds
    Chadwick & D'Amato
    Champlain Funds
    Changing Parameters, LLC
    Chase
    Chesapeake
    Cheswold Lane Asset Management
    Chou America
    Christopher Weil & Company, Inc.
    Cincinnati Asset Management Funds
    Citigroup
    Clarity Fund
    Clark Capital Management Group, Inc.
    Clark Fork Trust
    Clear River
    Clipper Fund
    Cloud Capital
    CM Advisors
    CMG
    CNI Charter
    Cohen & Steers
    Coldstream
    Collins Capital Investments, LLC
    Columbia
    Commerce
    Commonwealth Intl Series Tr
    Compak
    Compass EMP
    Concorde
    Conestoga Capital Advisors
    Congress
    Congressional Effect Family
    Contravisory Investment Management, Inc.
    Convergence
    Cook & Bynum Capital Management, LLC
    Copeland Capital Management
    Copley
    CornerCap
    Cornerstone
    Cortina Funds, Inc.
    Country
    Cove Street Capital
    CRAFund
    Crawford
    Credit Suisse (New York, NY)
    Credit Suisse AG
    CRM
    Croft
    Crow Point Partners, LLC
    Cullen Funds Trust
    Cushing
    Cutler
    Cutwater Asset Management Corp.
    CWC
    Davidson Mutual Funds
    Davis Funds
    Davlin Philanthropic Fund
    Day Hagan
    Dean Fund
    Delaware Investments
    Destra
    Deutsche Bank
    DF Dent Funds
    DGHM
    DGI
    Diamond Hill Funds
    Dimensional Fund Advisors
    Direxion Funds
    DMS FUNDS
    Dodge & Cox
    Domini
    DoubleLine
    Dreman
    Drexel Hamilton Investment Partners, LLC
    Dreyfus
    Driehaus
    DSM
    DundeeWealth Funds
    Dunham Funds
    DuPont
    Dupree
    DWS Investments
    E.I.I.
    Eagle
    Eagle Funds
    EAS Genesis
    Eaton Vance
    Edgar Lomax
    Edgewood
    Elessar Investment Management
    Emerald
    Emerging Global Advisors
    Empire Builder
    Empiric Funds
    Encompass Fund
    EntrepreneurShares
    Epiphany Funds
    Equinox Funds Trust
    Equity Investment Corp
    Estabrook
    ETF Securities Ltd
    Euro Pacific Asset Management
    Euro Pacific Halter Asia Management, Inc
    Eventide Funds
    Evermore
    Exchange Traded Concepts, LLC
    Factor Capital Management, LLC
    Fairfax
    Fairholme
    FAM
    FAM Funds
    FCI Funds
    FDP Series Funds
    Federated
    Fidelity Investments
    Fiduciary Asset Management, LLC
    Financial Investors Trust (Aspen)
    Financial Investors Trust (Grandeur)
    First American
    First Eagle
    First Investors
    First Trust
    First Western Capital Mgt
    Firsthand Funds
    Flex-funds
    FMC Funds
    FMI Funds
    FolioMetrix
    Forester
    Formula Investing, LLC
    Fort Pitt Capital Funds
    Forward Funds
    Fountainhead Funds
    FPA
    Frank Funds
    Franklin Templeton Investment Funds
    Freedom Funds
    Frontegra Asset Management Inc
    Frontegra Funds
    Frost Funds
    Fund X
    FX Strategy Fund
    Gabelli
    GaveKal
    GE Asset Management
    Geier Funds
    Geneva Funds
    Gerstein Fisher
    Giant 5 Funds
    Ginkgo
    Glenmede
    GLG Inc
    Global X Funds
    GMG
    GMO
    Golden Capital Funds
    Goldman Sachs
    Golub
    GoodHaven
    Gotham
    Granite Investment Advisors, Inc.
    Grant Park
    Great Lakes Funds
    Great-West Funds
    Green Century
    GreenHaven
    Greenspring
    GRT
    Guggenheim Investments
    GuideMark
    GuidePath
    GuideStone Funds
    Guinness Atkinson
    Hagin Capital, LLC
    Hamlin Capital Mgt LLC
    Hancock Horizon
    Hancock Horizon Funds
    Hansberger Funds
    Harbor
    Harding Loevner
    Hart Group, Ltd.
    Hartford Mutual Funds
    Hatteras Alternative Mutual Funds Trust
    Haverford
    Heartland
    Henderson Global
    Hennessy
    Henssler Funds
    HighMark
    Hillman Capital Management
    HNP Capital LLC
    Hodges
    Holland Series Trust
    Homestead
    Hotchkis and Wiley
    HSBC
    Huber Funds
    Hundredfold
    Huntington
    Huntington Strategy Shares
    Hussman Funds
    ICM Series Trust
    ICON Funds
    Iknetics Capital Partners, LLC
    IMS
    IndexIQ
    ING Funds
    ING Retirement Funds
    Innealta Capital
    Institutional Advisors LLC
    Institutional Investors
    Integrity
    International Securites Exchange
    Intrepid Funds
    Invesco
    Investment House LLC
    Investment Partners
    Iron Funds
    IronBridge Funds, Inc.
    Ironclad Funds
    iShares
    ISI Funds
    IVA Funds
    Ivy Funds
    Jacob
    Jacobs Broel
    JAG Advisors
    James Advantage
    Janus
    Jensen
    John Hancock
    Johnson Mutual Funds
    Jordan Funds
    JPMorgan
    JPMorgan Asset Mgmt (Europe) S.a.r.l.
    JPMorgan Funds
    Jubak
    Kalmar Pooled Investment Trust
    KCM
    Keeley
    Kellner
    Keystone
    Kinetics
    Kirr Marbach Partners
    KKR
    Kottke
    Kovitz Investment Group, LLC
    Lacerte Capital
    Lateef Investment Management, L.p.
    Laudus Funds
    Lawson Kroeker Investment Management Inc
    Lazard
    LEADER
    Leavell
    Lee Financial Group Inc
    Leeb
    Legg Mason
    Legg Mason/Western
    Leuthold
    Liberty Street
    Lifetime Achievement Fund Inc
    Lincoln Financial Group
    Linde, Hansen & Co., LLC
    Litman Gregory Masters Funds
    LKCM
    LoCorr Fund Management, LLC
    Logan Capital
    Long Short
    Longboard
    Longleaf Partners
    LongView Capital Management LLC
    Loomis Sayles Funds
    Lord Abbett
    LSV Fund
    M.D. Sass Investors Services, Inc.
    Madison Mosaic
    MAI
    MainGate Trust
    MainStay
    Mairs & Power
    Makefield
    Managed Futures Solutions Fund
    Managers Funds
    Manning & Napier
    Manor Investment Funds
    Marathon Funds
    Mariner Fund Group
    Marketocracy Funds
    Marsico Investment Fund
    Martin Capital Management LLP
    MassMutual
    Matrix/LMH
    Matthew 25
    Matthews Asia Funds
    McKee Funds
    Meehan Focus
    MEMBERS
    Merger
    Meridian
    Merk Funds
    Merrill Lynch
    Metropolitan West Funds
    MFS
    MH Elite
    Midas
    Milestone
    Miller Investment
    Milliman
    Mirae Asset Global Investments (USA) LLC
    MMA Praxis
    Monetta
    Monteagle Funds
    Morgan Dempsey Capital Management, LLC
    Morgan Stanley
    Morgan Stanley & Co
    Morgan Stanley (New York)
    Motley Fool
    MP 63
    Muhlenkamp
    Munder
    Mundoval Funds
    Mutual of America
    Mutualhedge
    Muzinich
  • Remainder of fund family list:

    Nationwide
    Natixis Funds
    Needham
    Neiman Funds
    Neuberger Berman
    New Alternatives
    New Century Portfolios
    New Covenant
    NEW Path Capital Advisors
    Nicholas
    Niemann
    Nile Capital Investment Trust
    Nomura Partners Funds
    North Country Funds
    North Star Investment Management Corp.
    NorthCoast
    Northeast Investors
    Northern Funds
    Northern Lights Fund Tr (Criticalmath)
    Northern Lights Fund Trust
    Northern Lights Fund Trust (GPS)
    Northern Lights Fund Trust (SCA)
    Northern Lights Fund Trust(Giralda)
    Northern Trust
    Northquest Capital Fund Inc
    Nottingham
    Nuance Communications
    Nuance Investments, LLC
    Nuveen
    Nuveen Investments
    Nysa
    Oak Associates
    Oakmark
    Oberweis
    Oceanstone
    OCM
    Old Mutual Investment Funds
    Old Westbury
    Olstein
    OppenheimerFunds
    Oracle
    Orinda Asset Management, LLC
    O'Shaughnessy Mutual Funds
    Osterweis
    Osterweis Capital Management
    OutfitterFunds
    Pacific Advisors Funds
    Pacific Capital
    Pacific Financial
    Pacific LifeFunds
    Palmer Square Capital Management LLC
    Papp
    Paradigm Funds
    Parnassus
    Pathway Advisors
    Patriot
    Pax World
    Paydenfunds
    Payson Funds
    Pear Tree Funds
    Pennant
    Perimeter Capital
    Perkins
    Permanent Portfolio
    Perritt
    Philadelphia Invmt Ptnrs New Generation
    Phocas
    PIA Mutual Funds
    Piedmont
    PIMCO
    Pinnacle
    Pinnacle Capital Management
    Pioneer Investments
    Plainsboro Funds
    Plan Investment Fund
    PMC Funds
    PNC Funds
    Polaris Funds
    Polen Capital Management Inc
    Pope Family Of Funds
    Poplar Forest Capital
    Portfolio 21
    Portfolio Strategies Inc
    Potkul Funds
    Power Income Fund
    PowerShares
    Prasad Series Trust
    Precidian Funds LLC
    Preservation Trust Advisors
    Presidio Funds
    Primary Trend
    PRIMECAP Odyssey Funds
    Princeton
    Principal Funds
    Private Capital Management
    Profit Funds Investment
    ProFunds
    ProShares
    Prospector Funds
    Prudential Investments
    Purisima Funds
    Putnam
    Pyxis Funds
    Quaker
    Quantitative Services Group LLC (QSG)
    QuantShares
    Queens Road Funds
    Rainier
    Ramius
    Ranger Funds Investment Trust
    RBB Funds
    RBC Global Asset Management (U.S.) Inc.
    Reaves Select Research
    Redmont
    Reich & Tang
    Reinhartfunds
    Renaissance Capital Greenwich Funds
    Reynolds
    Rice Hall James
    RidgeWorth
    Risk Paradigm Group, LLC
    River Park Funds
    RiverNorth Funds
    RNC Genter Capital Management
    Robeco Investment Funds
    Robeco Investment Management, Inc.
    Rochdale
    Rocky Peak Capital
    Roge Partners Fund
    Roosevelt
    Roxbury Funds
    Royal Bank of Scotland NV
    Royce
    RS Funds
    Russell
    S1 Fund
    SA Funds
    Salient Funds
    Samson
    Sandalwood
    Sands Capital
    Saratoga
    Satuit Capital Management Trust
    Saturna Capital
    Scharf Investments (California)
    Schneider Funds
    Schooner Funds
    Schroder
    Schwab Funds
    Schwartz
    Scout
    Seafarer
    SEI
    Selected Funds
    Sentinel
    Sequoia
    Shelton Capital Management
    Shenkman Capital Management, Inc.
    Sierra Trust
    SignalPoint
    Sit
    Smead Funds
    SMH Capital Advisors
    Smith Barney
    Snow Capital Management L.P.
    Sound Mind
    Sound Shore
    SouthernSunFunds
    Sparrow
    Spirit of America
    STAAR Investment Trust
    Stadion Funds
    State Farm
    State Street Global Advisors
    State Street Master Funds
    SteelPath
    Sterling Capital Funds
    Stewart Capital
    Stone Harbor
    Stonebridge
    Stralem Fund
    Strategic
    Strategic Income Management, LLC
    Stratton
    Stratus Fund
    Stream Exchange Traded Trust
    STW Fixed Income Management LLC
    Summit Global Investments
    SunAmerica
    Sustainable Growth Advisers
    Swan
    Swank
    Swedish Export Credit Corporation
    Symons
    T. Rowe Price
    TacticalShares
    Tanaka
    Target Program
    Tatro Capital, LLC
    Taylor
    TCM Funds
    TCW
    TD Asset Management
    TEAM
    Teberg
    Teucrium
    TFS Capital Funds
    TheCollarFund
    Thesis
    Third Avenue
    Thomas White Funds
    Thompson IM Funds, Inc.
    Thomson Horstmann & Bryant, Inc.
    Thornburg
    Thrivent
    TIAA-CREF Mutual Funds
    Tiedemann Wealth Management, LLC
    Tilson Funds
    Timberline Asset Management LLC
    Timothy Plan
    Tocqueville
    Toews Funds
    Toreador
    Torray
    Tortoise Capital Advisors, L.L.C.
    Touchstone
    Towle & Co
    Transamerica
    Transparent Value Funds
    Transparent Value Trust
    Tributary Funds
    Trust for Credit Unions
    Trust for Professional Mgrs(PTIA)
    TS&W Funds
    Turner Funds
    Tweedy Browne
    Two Oaks Investment Management, Inc.
    U.S. Global Investors
    UBS
    UBS AG
    UCM
    United Association Funds
    United States Commodity Funds LLC
    Upright Investments Trust
    USA Mutuals
    USAA
    VALIC
    Valley Forge
    Value Line
    Van Eck
    Van Hulzen Asset Management, LLC
    Vanguard
    Vantagepoint Funds
    Vericimetry Funds
    VFM
    Victoria1522
    Victory
    Viking
    Villere
    Virtus
    Volumetric
    VRM Funds
    VTL Associates, LLC
    Vulcan Value Partners
    W.P. Stewart
    Waddell & Reed
    Wade Financial
    Wakefield Asset Management LLLP
    Wall Street
    Wall Street EWM Funds Trust
    Walthausen Funds
    Wanger
    Wasatch
    WBI FUNDS
    WCM Investment Management
    Wegener
    Weitz
    Wells Fargo Advantage
    Wentworth, Hauser and Violich
    WesMark
    Westcore
    Westfield Capital Management Company, LP
    Westport Funds
    Westwood
    Whitebox Advisors, LLC
    Whitebox Mutual Funds
    William Blair
    Williamsburg Investment Trust
    Wilmington Funds
    Wilshire Mutual Funds
    Wintergreen Funds
    Wireless
    Wisconsin Capital Management
    WisdomTree
    WOA
    World Funds
    World Funds, Inc
    WorldCommodity Funds
    Wright
    Zacks WMG
    Zeo
    Ziegler Lotsoff Capital Management Inv
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