Mutual funds have always been a leap of faith. You pool money with other investors, wanting professional management and diversification at a reasonable price, and hoping for performance that beats an average and/or a market index over time.
With Leap Day this Monday, investors have a unique way to review their leap of faith into mutual funds, namely by looking at how the fund did from Feb. 29, 2012 — the last Leap Day — to this one.
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