These are the top funds in five major categories, ranked according to three-year returns. We primarily consider funds with managers in place for at least three years; the only exceptions are managers with at least three years’ experience in a similar capacity. We don’t rank funds with front or back-end loads greater than 3 percent or funds that are closed to new investors, have less than $25 million in assets, have minimums of $10,000 or more, have trust restrictions or are single-state muni-bond funds. All data as of 02/28/10.

Source: Morningstar, Bloomberg

The Louis Rukeyser Honor Roll

Funds that have been on The Rukeyser 100 more than 80 percent of the past three years (at least 29 out of 36 months) make it onto The Louis Rukeyser Honor Roll. Their names are in green and marked with laurels.

On the Move

– In the wake of Robert Loest’s departure, the team of Shannon Radke, Monte Avery and Robert Walstad now manage Integrity Growth & Income A (IGIAX). Although such a change would usually prompt us to drop the fund, the trio has ample experience–Avery is a seasoned manager in his own right. Still, we’ll keep a close eye on their new charge and will alert our readers about any meaningful changes.

– Queens Road Small Cap Value (QRSVX) ranks in the top 2 percent of its category on a three-year basis and the top quarter on a five-year basis. The fund joins the illustrious Rukeyser 100 this month. Sizable positions in computer hardware and software names enabled the fund to turn in a solid performance over the past 18 months. A heavy cash stake–almost a quarter of investable assets–also contributed to the fund’s success, though that could be a real drag if the market rallies with any gusto.

– Dreyfus Small Company Value has changed its name to Dreyfus Opportunistic Small Cap (DSCVX), but the management team and philosophy remain the same.

Funds Added This Month

American Century Heritage
Aston Growth N
Fidelity Select Computers
Matthews India
Metropolitan West High Yield Bond M
Osterweis Strategic Income
Parnassus
PIMCO Total Return D
Queens Road Small Cap Value
T Rowe Price Growth & Income
T Rowe Price Health Sciences
TCW Growth Equities I
Wells Fargo Advantage Discovery

Funds Dropped This Month

American Century Core Plus
Ameristock
Fidelity High Income
Fidelity Select Materials
Fidelity Select Pharmaceuticals
Hussman Strategic Growth
Janus Triton
Matthews Pacific Tiger
Perkins Small Cap Value J
Robeco Long/Short Equity
Wasatch Small Cap Growth
Wasatch-1st Source Income Equity
Wasatch-Hoisington US Treasury