The Motley Fool [see profile] reportedly has a new "> fund in the offing but it's not the revolutionary offering that the firm is touting it as, according to MarketWatch columnist Chuck Jaffee.

Based on the success of its maiden offerings, Motley Fool Independence fund, which was in the top 20 percent of its peer group in 2010, the firm is coming back to market with a second fund, The Motley Fool Great America. The fund is taking aim at small and mid-cap American companies with “laser-like” fervor.

However, Jaffe writes that: "The Fool is hardly the first company to come up with the idea of a fund focused on undervalued domestic small and midsize companies that are great businesses to own, despite its own suggestions that the idea is revolutionary; the dead pool has plenty of funds that failed at this task".  

Edited by: Hung Tran


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