The boom in competition among mutual funds has spawned a new competitive battle: This one is among fund evaluators.
Value Line Investment Survey, which calls itself the nation's "leading provider" of investment information through its well-known stock reports, said Thursday it is launching a new service that will judge and rank major stock and bond mutual funds.
The service is aimed at the growing ranks of fund investors--now 38 million--who have relatively few sources of consistent advice on which funds to buy or sell, said Jean Bernhard Buttner, head of Value Line in New York.
In scope and format, Value Line will go head-to-head with Chicago-based Morningstar Mutual Funds, which already provides periodic one-page evaluations of 1,240 funds. The 7-year-old Morningstar publication has more than 40,000 subscribers.