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RIMIX/CNRYX City National Rochdale DEM fund

mcmarasco
in Fund Discussions
I am looking for some thoughts, opinions and suggestions regarding RIMIX/CNRYX City National Rochdale DEM fund.

I am considering this fund as a "complementary" position, not my major holding in EM.

It has performed very well in its short life and its metrics are very good. BUT it invests a vast majority in Emerg. Asia (90%) with 43% in China and 24% in India (According to M*).

Seems more like an "Asian" fund then DEM.

This fund seems to defy the odds in every way. Every metric bests the Cat. Avg. including the UP and DOWNSIDE C/R. Its 3 and 5-year returns, top 1%.

Any thoughts, ideas, suggestions and comments would be greatly appreciated!!

FYI, I have read the analysis on MFO and a few comments but I can't find much else



Thx, Matt

Comments

  • AndyJ
    I followed it for a while starting ~ 3y ago, and it's apparently always been a Chindia-plus-other-Asia fund. I thought of it as a good fund, but wasn't as thrilled as I might have been about the downside. Haven't followed it lately, so I can't say that'd be my conclusion now. I just decided Matthews is more my style for an Asia fund.

    One related thought: you might look at it in terms of being an emerging Asia fund, which it is, rather than the name and M* category of EM, which it isn't. The fact that it's got zero in Africa, Russia, and Latin America versus the category it's been placed in, I think probably makes a substantial difference in the rating; I came to the conclusion it'd likely be High return, Average-Plus risk if it were compared to Asia funds.

    Just MHO - it may be just what you're looking for ...
  • TheShadowTheShadow
    I would look at David's write-up from last year:

    http://www.mutualfundobserver.com/2016/10/fund-profile-city-national-rochdale-emerging-markets-fund-rimix-cnryx/

    Incidentally, I own a very minimum amount in the fund.

  • mcmarasco
    It does seem to me as well that RIMIX is mis-categorized by M*, which certainly could change the rating and metrics.

    Thanks for the link TS and AJ for your input!!!

    Any further comments, suggestions are very welcome!
  • TheShadowTheShadow
    As a side note, I called the transfer agent on a Friday on their 800 telephone number; I received the regular application the next day's mail in an overnight delivery envelope.

    Very expedient.
  • [Deleted User]
    edited June 2017
    The user and all related content has been deleted.
  • mcmarasco
    Thanks TS; I like that fact that they responded expediently to your request.

    I have a brokerage account with FIDO; I guess I could buy it "direct" and transfer it to FIDO and save the TF??? Not sure it's worth the effort though?

    Do either of you have any other thoughts about the fund itself?

    I would like to consolidate into two (2) funds and thought maybe CNRYX/RIMIX might help my quest. I currently hold BEXFX (Baron) and a very small amount of SFGIX/SIGIX (Seafarer) and a bit of MEASX (Matthews).

    Do you have any suggestions on an EM fund that has solid returns and metrics. I'm not looking for the highest returning fund and I certainly do not want to "performance chase".
  • MarkMark
    CNRYX is available at Scottrade for $100.00 min +$17 TF to buy. RIMIX is also available NTF with the same min.
  • [Deleted User]
    The user and all related content has been deleted.
  • TheShadowTheShadow
    edited June 2017
    You can purchase CNRYX through the transfer agent with no initial minimum.

    You may be able to buy CNRYX through the transfer agent then transfer it to your brokerage provided the brokerage has a buy/sell agreement for the fund.
  • AndyJ
    edited June 2017
    mcmarasco said:

    Do you have any suggestions on an EM fund that has solid returns and metrics. I'm not looking for the highest returning fund and I certainly do not want to "performance chase".

    You might keep an eye on the new Laura Geritz (ex-Wasatch) fund Rondure New World (RNWOX). Unfortunately, as I just found out via email from Rondure today, the first report with full holdings etc., to get a better idea of what she's doing, won't come out until ~ Sept 30.

    There's a thread or two here on MFO about the new Geritz funds.
  • mcmarasco
    Thank you all for the excellent food for thought and suggestions!

    I will certainly look into and keep an eye on the new L. Geritz fund; thx AJ.
  • TedTed
    @mcmarasco: Nothing wrong with keeping your eye on RNWOX, but don't be to quick to jump in. Geritz's success at Wasatch is no guarantee that it will carry over at Rondure.
    Regards,
    Ted
  • mcmarasco
    Ted, in theory I agree, but isn't prudent to "buy the manager" or at least give the mgr significant weight?

    Let me ask you this: certainly there is no guarantee, but is there something about Rondure v. Wasatch that prompted you to convey that caveat? Please let me know, the more informed I am the better decision I can make (obviously)!!

    Thx for your input and further clarification!!
  • JoJo26
    IMO, the manager's previous success should carry some weight. Yes, past performance is no guarantee of future results, but we all still consider it. Nobody's going to allocate to a manager that has never shown an ability to outperform...
  • AMatMFO
    edited July 2017
    1. Has anyone purchased the Y shares (CNRYX) directly from the transfer agent? When I called them, they said only N shares (RIMIX) can be purchased directly from them and the Y shares have to be purchased through an advisor.
    2. Are the Y share available on any brokerage without the transaction fee? If they are available with the transaction fee, what is it? Fidelity, TDAmeritrade and Schwab have high transaction fees for mutual funds. Searching for CNRYX at Scottrade and Firstrade do not get any results.

    Thank you.
  • Dennis Baran
    @AMatMFO See Mark's June 5 post.
  • AMatMFO
    edited July 2017
    Thanks, @openice. I had seen Mark's post before I posted my questions, but when I searched for CNRYX at Scottrade, nothing showed up. I will call them.
  • TheShadowTheShadow
    edited January 2018
    @AMatMFO

    I purchased CNRYX through the transfer agent for low minimum. It was offered on the application. Not an issue.

    Can also purchase CNRYX through Scottrade for low minimum.

    From Scottrade:

    Minimums:

    Initial
    100.00

    Additional
    100.00

    IRA
    100.00

    Additional IRA
    100.00

    Characteristics

    For Sale at Scottrade-$ Available At Scottrade
    Transaction Fee-TF Transaction Fees Apply
    No Load-NL No Load
    Availability: Open to all Investors

  • mcmarasco
    CNRYX is available at FIDO w/TF $49.95; $2,500 min. initial investment.
  • NumbersGal
    I bt CNRYX at TDAmeritrade with no minimum (1/3/18)
  • Dennis Baran
    For what interest it holds, I wrote the October 2016 CNRYX profile, not David. I'm glad that the fund is seeing interest and having value here. Thx.
  • finder
    I bought CNRYX in part because of its nearly perfect tax efficiency in all previous years. But this year it distributed about 7%...
  • AMatMFO
    Thanks, @TheShadow. I did buy CNRYX few months ago at Scottrade with a transaction fee. Scottrade mutual transaction fees are lower than Fidelity, Schwab and TDA. I've not found any brokerage where this fund can be bought without the transaction fees.
  • msf
    AMatMFO said:

    Thanks, @TheShadow. I did buy CNRYX few months ago at Scottrade with a transaction fee. Scottrade mutual transaction fees are lower than Fidelity, Schwab and TDA.

    FWIW, a round trip will cost you $34 at Scottrade, $50 at Fidelity, and a whopping $100 at TDA.

    Five purchases at Scottrade will cost you $85, but only $70 at Fidelity if you're willing to use their automated investment system and live with a lag of a day or so in getting your order filled. ($5/order once you have a position at Fidelity).

    https://www.fidelity.com/cash-management/automatic-investments

  • TheShadowTheShadow
    @AMatFO.

    Your welcome! I am not sure what the initial minimum investment amount is at Fidelity (probably $2,500 like most other funds offered?), but it cannot be less than Scottrade's $100 plus T/F of $17 to purchase it.

    Incidentally, I purchased CNRYX in my Scottrade account prior to establishing a CNRYX account with the transfer agent. I made an initial investment of $100 with the agent with no problems.
  • AMatMFO
    @msf, you mentioned:
    "$5/order once you have a position at Fidelity"
    How is it possible to buy mutual funds for $5 for each trade?
  • msf
    AMatMFO said:

    @msf, you mentioned:
    "$5/order once you have a position at Fidelity"
    How is it possible to buy mutual funds for $5 for each trade?

    ... use their automated investment system and live with a lag of a day or so in getting your order filled. ($5/order once you have a position at Fidelity).
    https://www.fidelity.com/cash-management/automatic-investments

    From that page: "After the initial investment, a $5 fee is charged per automatic investment into a FundsNetwork transaction fee fund."

    You can set up a schedule of automatic investments and cancel after the first one is executed. The system used to be called "Automatic Account Builder."
    http://socialize.morningstar.com/NewSocialize/forums/t/346014.aspx
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