The Decade's 10 Worst Fund Disasters

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Market timing scandal

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This scandal blew up in 2003 when regulators determined that funds were engaging in front running (tipping off favored investors before making trades) and illegal late trading. Some of the culprits included Janus, PBHG, Bank of America, and Putnam. The scandal greatly undermined investor confidence, and even at the close of the decade it continues to haunt the industry.

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