And that's just what has happened over the last year with utility funds.

He plans to start a utility fund at the end of September.

But aside from that issue, is a utility fund a good choice?

So far, 1993 has been an extraordinarily good year for utilities funds.

The conservative utility funds were beaten up in the first four months of the year.

Another $1.07 million would come from the state's utility fund for infrastructure improvements.

"The very same factors that made utility funds perform well this year should give them pause."

By their nature, these funds have much more growth potential than traditional utility funds.

Vanguard isn't alone in planning to abandon a utility fund.

"It's pretty hard to mess up a utility fund," he said.