Bad marks blemish funds' report card. (Chicago, Illinois mutual funds)

Money continues surging into the country's mutual funds this year, but some of Chicago's largest fund groups are missing the party.

While local fund manager Stein Roe & Farnham Inc. reversed past declines by increasing assets under management 42% through September, the area's four other biggest fund sponsors lagged the U.S. mutual fund industry, which gained an average 17%, according to Chicago-based Financial Research Corp.

Among those that are growing assets - but more slowly than their peers - are First Chicago NBD Corp. (15%), Van Kampen American Capital Inc.