How well are mutual fund families serving their shareholders? In Thursday's WSJ Fund Track (separate login required), Daisy Maxey reports on the fund stewardship grades Morningstar released earlier this week. (See "Making the Grade at Morningstar", MFWire, September 25, 2007.) Maxey fixates on the average B to C grade drop for Fidelity and C to D grade drop for Putnam, citing a lack of independent chairman at the Boston Behemoth and redemption and manager turmoil at Power Financial's recent buy. 

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