A growing number of mutual fund companies are depending on computers to pick stocks as a way to improve returns while saving money. The Wall Street Journal reports that firms such as Janus Capital Group, Charles Schwab and Rydex Investments are introducing more of the quantitative funds, or quants, which leave stock selection to a computer, as they also attract investors, who The WSJ says, like "their non-emotional, disciplined method of investing." 

In addition, quant funds allow investors to enjoy hedge-like approaches such as short selling. It appears to be paying off for the companies that run them. The WSJ says Schwab and Analytic Investors both doubled their assets in quant funds within the past year.