The annual STAR Awards recognize mutual fund companies for outstanding investor communications, education and support. Each year the MFEA examines the best educational materials, both in print and electronic, in the mutual fund industry and then asks industry judges to select from the best.

In 2007, 29 different companies were recognized for excellence in 32 categories ranging from best annual report to best online innovation and to the coveted best overall award. 

The Community Investment Award recognizes the mutual fund company that most effectively utilizes resources to support their community through special programs, partnerships, employee volunteering and philanthropic efforts.