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 of 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 06/30/10.

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

• Launched in June 2007, DGHM All-Cap Value (DGHMX) found its way into our Long-Term Growth category in the first month its manager met our three-year experience criterion. A focused fund with around 40 holdings, it invests in the four-person management team’s best value ideas. This strategy has paid off; the fund ranks in the top 2 percent of its category on a three-year basis and the top 8 percent for the trailing year. A hefty expense ratio of 1.71 percent is a drawback, though costs could decline as it adds assets.

• RiverNorth Core Opportunity (RNCOX) appears once again in out Balanced/Multi- Asset category, though we caution our readers to understand the fund fully before considering investing. The offering has performed well of late, taking advantage of value dislocations in closed-end funds. But its fund-of-funds approach saddles RiverNorth Core Opportunity with an expense ratio of 2.84 percent.

Funds Added This Month

• Berwyn Income
• DGHM All-Cap Value Investor
• Fidelity Real Estate Income
• Huntington Dividend Capture
• Laudus Growth Investors US Large Cap
• Loomis Sayles Global Bond Retail
• Matthews Asian Growth & Income
• Meridian Growth
• Payden Global Short Bond
• Permanent Portfolio
• RiverNorth Core Opportunity
• T Rowe Price Tax-Free Income
• T. Rowe Price Dividend Growth
• Vanguard Interm-Term Tax-Exempt

Funds Dropped This Month

• AllianceBern Muni Income National
• Delafield Fund
• Fidelity New Markets Income
• Fidelity Select Retailing
• FMI Focus
• FPA Crescent
• Guinness Atkinson China & Hong Kong
• Meridian Equity Income Parnassus
• T Rowe Price Emerging Markets Bond
• T Rowe Price Growth & Income
• T Rowe Price Personal Strategic Income
• US Global Investors Near-Term T/F
• WesMark Balanced