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According to M*, Corydon Gilchrist has not been involved with the management of MFCFX since 1/31/2008. We continue to own HAFLX, a lower cost version of MFCFX.
Thanks for the info on both counts...I guess I misread M*'s info. You are correct. I have access to HAFLX through my brokerage so I will have to consider a switch.
Ouch... 50K minimum...anyway around this hurdle? The expense ratio on MFCFX is .75%...what is it for HAFLX? Thanks!
Not only will the Grandeur Peak funds be capped at a lower expense ratio than their Wasatch counterpart funds but the new Global Opportunities fund will also be more concentrated than before.
When they were managing WAGOX (Wasatch Global Oppty fund) they had around 300+ stocks. According to the linked article, the new Grandeur Peak Global Oppty fund will target 100-150 stocks.
“We plan to run a shorter list of holdings with our favorite 100-150 opportunities. This should provide a more dynamic portfolio and be more cost effective for shareholders.”
The actual ER of MFCFX is 1.49, which includes a dreadful 0.25% 12b-1 fee. The net ER of HAFLX is 1.00% through 2/29/2012. I purchased my shares of HAFLX for a reasonable minimum at Thinkorswim before it was gobbled up by TDAmeritrade. I just checked around at Fidelity, Firstrade, Schwab, Scottrade, and TDAmeritrade, and the minimum at these brokerages for both retirement and taxable accounts is $50K. I don't know of a way to access HAFLX for a reasonable minimum at this time.
Reply to @bee: The expense ratio of MFCFX is NOT 0.75%. That was before expense cap expired early this year (2/1) and now the expense ration is 1.49% per prospectus (expense limit 1.60%). M* for some reason still continues to reflect old expense ratio with an expense limit of 0.75%
Reply to @Kenster1_GlobalValue: Thank you for the update. ER is still above average at 1.75%. I am not familiar with the management team and their past performance. Would you please share your opinion? Thank you.
Comments
Cory G is also co-manager of MFCFX = Marsico Flexible Capital Fund. Keeping a close eye on this holding I own.
According to M*, Corydon Gilchrist has not been involved with the management of MFCFX since 1/31/2008. We continue to own HAFLX, a lower cost version of MFCFX.
Kevin
Hi K-dow,
Thanks for the info on both counts...I guess I misread M*'s info. You are correct. I have access to HAFLX through my brokerage so I will have to consider a switch.
Ouch... 50K minimum...anyway around this hurdle? The expense ratio on MFCFX is .75%...what is it for HAFLX? Thanks!
bee
Former Wasatch Team Announces Funds Launch-- Grandeur Peak Global Opportunities and International Opportunities Funds To Launch October 17th.
http://news.yahoo.com/former-wasatch-team-announces-funds-launch-grandeur-peak-125609468.html
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Not only will the Grandeur Peak funds be capped at a lower expense ratio than their Wasatch counterpart funds but the new Global Opportunities fund will also be more concentrated than before.
When they were managing WAGOX (Wasatch Global Oppty fund) they had around 300+ stocks. According to the linked article, the new Grandeur Peak Global Oppty fund will target 100-150 stocks.
“We plan to run a shorter list of holdings with our favorite 100-150 opportunities. This should provide a more dynamic portfolio and be more cost effective for shareholders.”
The actual ER of MFCFX is 1.49, which includes a dreadful 0.25% 12b-1 fee. The net ER of HAFLX is 1.00% through 2/29/2012. I purchased my shares of HAFLX for a reasonable minimum at Thinkorswim before it was gobbled up by TDAmeritrade. I just checked around at Fidelity, Firstrade, Schwab, Scottrade, and TDAmeritrade, and the minimum at these brokerages for both retirement and taxable accounts is $50K. I don't know of a way to access HAFLX for a reasonable minimum at this time.
Kevin
http://www.grandeurpeakglobal.com/pdfs/grandeurpeakglobalfunds-investor-prospectus.pdf