After reviewing my portfolio recently I realized one mutual fund, FMIJX, holds a fair amount of cash (what the FMI website terms "short term investments"). Here's the funds most recent holdings with 22.2% of the fund in "short term investments".
fiduciarymgt.com/funds/in/IN_holdings.pdfThis fund is categorized as a Foreign Large Blend fund with a bent toward large growth, though presently 14% of its stocks are US equities.
This fund has a short history only back to 2010, but seems to have very good risk adjusted returns. It has held large amounts of ST investments over that time. Fund Mojo listed the following recent fund allocations:
I'm beginning to consider this a Foreign Allocation fund. Do you own anything similar, especially with (Foreign, Global, International) holdings?
Comments
By my thinking and from a review of its Morningstar's fund report ... You can handle this pretty much as you wish within your own portfolio. However, it is void bonds and usually allocation funds hold stocks, bonds, cash and at times some other assets as well. Again, my best guess, without a reasonable position in bonds keeps it from being classified an allocation fund.