Despite the fees, the fund has beaten the Standard & Poor's 500-stock index over the last five years.
For the first time since 1994, all of the funds beat the Standard & Poor's 500-stock index.
There will always be funds that do beat their relevant index.
Each beat the Standard & Poor's 400 index of midsize companies last year.
One argument against investing in mutual funds is that not many consistently beat the Standard & Poor's 500-stock index.
Small-cap funds beat their index more often and with even bigger margins.
"One out of four or five general equity funds will beat the Standard & Poor's 500 index over a 10-year period," he added.
His fund has beaten the Standard & Poor's 500-stock index in the last 12 years, and its assets under management have grown tenfold.
Indeed, he remains bullish on overseas markets, predicting they will beat the Standard & Poor's 500-stock index next year.
On those days from 1985 to 1997, some 80 percent of equity funds, on average, beat the Standard & Poor's 500-stock index.
