Milwaukee boasts eight mutual funds, out of 61 total, that each beat at least 94 percent of their peers over the past decade. Charles Stein of Bloomberg profiles the Wisconsin city as "America's Mutual Fund Mecca" and wonders if isolation is the key.

"We are very independent," said Albert Nicholas, PM of the $1.7-billion Nicholas Fund [profile]. "We are not as influenced by fads and trends as people on the coasts."

The article notes the $578-million FMI Focus Fund, the $10.6-billion Wells Fargo Advantage Growth Fund [profile], and the $2.5-billion Heartland Value Plus Fund [profile] as among the best funds in Milwaukee. Successful bond funds such as Lyle Fittere's $2.7-billion Wells Fargo Advantage Municipal Bond Fund and the Mary Ellen Stanek's $1.5-billion Baird Core Plus Bond Fund [profile] also call the city home.

“I don’t have any neighbors who run hedge funds,” said Andrew Stephens, whose $6.5-billion Artisan Mid Cap Fund (ARTMX) [profile] has beaten 99 percent of peers since its start in 1997. “No one is constantly talking stocks to me. I am happy here in my ignorance.”

“We are hardworking Midwesterners here,” said Stanek, president of Baird Funds. “We may not always have the latest sizzle, but that sizzle often doesn’t add value.” 

Edited by: HFD


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