Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Watch $25 for TCAF. That was the initial price and it may be supported for a while by the dealers/market-makers. Click 5-day on the Yahoo chart. Break to 24.98 so far doesn't count. https://finance.yahoo.com/quote/TCAF?p=TCAF&.tsrc=fin-srch
PRWCX portfolio Top Five. (dated 31 March.) Microsoft. Apple. United Health. Amazon. Fortive. (What do THEY do?)
TCAF is quite obviously not a clone, and there is no bond component, either. I wouldn't own TCAF because the top 5 are what they are. All the companies I love to hate. Granted, PRWCX has owned them, too. Probably does own them still, I'm not sure. I did not look this time, past the Top Five.
Yes, TCAF is bound to attract attention. And Giroux is quite capable. i am using TRP brokerage, still. But I'm less and less impressed with their other funds.....
I think @Sven’s latest posting this thread points to the difficulty in knowing exactly when Giroux’s OEF bought and sold its non-equity assets. Many of the commentators here speak of the effect of those assets on overall performance, but what we outsiders know is what TRP and Giroux are willing to tell us while they operate within regulations that give them great latitude for disclosure. Judging by semi-annual and annual reports (or interviews with the PM) that appear months after the probable portfolio shifts are hardly comparable to the daily observations of the equity holdings in TCAF. It may be that some managers are better suited to OEFs and others to transparent or non-transparent ETFs; we won’t know for some time because the latter-mentioned vehicles have such short histories. I use ETFs as a greater and greater portion of my active portfolio, but I don’t use them to mirror or replicate OEFs that may or may not hold similar assets.
No doubt that data on PRWCX are stale by at least 3-6 months. Publicly available data always lags behind. Think the high cash and bond allocations allow Giruox to make large tactical moves in the stock portion of the fund. That is the part active managed allocation fund: some called that the secret sauce of the fund. And this is not possible in this the all stock, TCAF ETF.
Comments
https://finance.yahoo.com/quote/TCAF?p=TCAF&.tsrc=fin-srch
Microsoft.
Apple.
United Health.
Amazon.
Fortive. (What do THEY do?)
TCAF is quite obviously not a clone, and there is no bond component, either.
I wouldn't own TCAF because the top 5 are what they are. All the companies I love to hate. Granted, PRWCX has owned them, too. Probably does own them still, I'm not sure. I did not look this time, past the Top Five.
Yes, TCAF is bound to attract attention. And Giroux is quite capable. i am using TRP brokerage, still. But I'm less and less impressed with their other funds.....