Well, the name getSelectedFund would imply that it is returning only the string that represents the value of the item selected. If nothing is selected, it should return null.
And since I made that method up, I somehow doubt that you already had it, let alone that you could claim that it returns a List instead of a String.
The only method you showed to have was getFundList() which DOES return a List. I included that one as well in my elaborated implementation.