https://s3.amazonaws.com/221-DF_DENT_FUNDS/221-SAR-1220.pdfAs a shareholder in DFDMX, I had hoped to read something in the semi-annual report from headquarters about the apparent weakening performance of the mid-cap growth entry, the one that Kiplinger’s has been touting for 2 or 3 years. While statistics and holdings are offered for all three of the firm’s MFs, only the Premier Growth fund receives a detailed narrative of the sort that I had found useful in the past. I may have even complimented DF Dent previously on the quality of its reports. I am baffled, therefore, at the absence of any narrative for the mid and small-cap funds. The company seems to have benefited from the favorable press coverage in Barron’s and Kiplinger’s, at least judging from the big uptick in flows into the firm. One has to wonder if the managers have not been able to absorb the money efficiently. My other favs in the category, BCMSX and BMGAX, have not seen a similar dip in recent performance.
