Today we are featuring top-performing “flexible” mutual funds. These funds mainly seek income or total return by investing in stocks, bonds or cash.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Flexible Funds list.

3 Solid Performers

Eaton Vance Global Macro A (EAGMX) seeks total return. The fund typically invests in fixed-income and derivative instruments in different countries and currencies. It invests over half of its net assets in high-grade debt securities.

The fund is non-diversified that currently focuses on intermediate bonds, foreign bonds and high yield bonds. As of October 2008, its portfolio turnover was 26%.

Mark S. Venezia has been the lead manager at the Zacks#1 Rank (”Strong Buy”) fund since its inception in June 2007.

GAMCO Mathers Fund (MATRX) seeks to achieve capital appreciation over the long term in various market conditions without excessive risk of capital loss. It invests primarily in common stocks but may invest all or any portion of assets in fixed -income securities.

The fund may invest all or a portion of its assets primarily in U.S. Treasury securities when the risk of loss from investing in stocks is high. MATRX distributes dividends and capital gains annually.

Caldwell & Orkin Market Opportunity (COAGX) seeks long-term capital growth with a short-term focus on capital preservation. It typically invests between 50% and 100% of net assets in U.S. common stocks.

COAGX’s investments include both long positions and short positions and may be made in companies of any size. It has allocated 55.65% of its assets in large-growth stocks. The fund distributes dividends and capital gains annually.

Unit holders have to make a minimum initial investment of $25,000 to enter this Zacks #1 Rank (”Strong Buy”) fund.

Michael B. Orkin has been the lead manager at the fund since Aug 1992. Prior to his current position, Orkin was an analyst with Pacific Equity Management, Oppenheimer Capital Corp. and Ned Davis Research Inc.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our new mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

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