(MONEY Magazine) – This guide's staffers are as enthusiastic about finding new ways for you to make money in mutual funds as they are about frolicking in New York City's Central Park (see the photos above). But is their advice any good? To find out, I asked for their personal investing tips, as well as how well the funds they own did in the difficult year to March 1. Here are their answers:

Project editor Walter Updegrave: Invest only with managers who have ranked among the top half of their peers in both good and bad markets for at least five years. His three value funds gained 8.5%, vs. 1.2% for all diversified equity funds.

Writer Karen Cheney: Favor funds with no sales fees. Her value fund returned 5.1%.

Writer Carla Fried: Take above-average risks only if you don't need the money for 10 years or more. Her aggressive small-stock value fund rose 5.3%, vs. others' 1.3% loss; her staid growth and income fund climbed 4.9%, compared with 2.9% for its peers.

Writer Mark Bautz: Don't abandon a winning strategy because of an occasional down year. His aggressive growth fund fell 2.5% in 1994, vs. a 2.1% loss for its category, but his fund had returned 13.5% annually over the previous five years.

Writer Jerry Edgerton: Spread your money among different types of funds to reduce risk. His international fund gained 0.8%, vs. a 13.5% loss for similar portfolios, while his two domestic value funds rose 16% and 11.3%, respectively.

Reporter Jillian Kasky: Invest every month, if possible. Her value fund gained 7%.

Of course, those are only one year's results, and like all savvy investors, the staff is investing long term--for college bills in 15 years or retirement in as many as 35 years.

To get the most out of your funds, first learn the seven rules for making money today (page 6). Then, after you read the stories on today's best fund buys and how to design your portfolio (page 34), you'll be on your way to achieving your goals.

FRANK B. MERRICK ASSISTANT MANAGING EDITOR