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Hard to know what are the good funds one hasn't heard of (I was familiar with Matthew 25 - love the symbol MXXVX), but I'm up for the challenge
Ran a M* screen, came up with Nuveen NWQ Flexible Income A NWQAX.lw, now available at Fidelity, Schwab, and probably elsewhere w/o load. Just a tad over three years old, a conservative allocation fund with low volatility (even for the category), lots of preferreds and some floating rate notes, from a family with a good reputation for bond and hybrid funds.
Since I only occasionally glance at CEFs and Nuveen open end funds haven't been load-waived before, this wasn't on my radar.
I actually ended up buying one, SMGIX, that I had not heard of before I started using an advisor, who liked the fund's drawdown history, especially in 2008. Since I had sold UMBIX when David Williams retired, and was looking for a replacement, I realized that this had very similar characteristics (yes I know UMBIX ended up at Columbia). It was likely a well known fund to others, just not to me. It is developing into one of my core funds, along with OYEIX, another one I had not heard of before using an advisor. I still pick many of my funds, but let my advisor introduce me to some that she has experience with, and if I like them, willing to try something new.
My guess is that very few folks have heard of Goldman Sachs Rising Dividend GSRLX. Very good upside capture with limited downside exposure. Alpha of 2.72 and Beta of 0.72. I am not really interested in any large cap value fund that has a downside capture ratio of much more than 80%. What's the point?
Reply to @BobC: I'm not sure I agree with you ("what's the point?"), but I believe I understand your view about LCV - you're thinking about these as traditional equity income funds (funds designed to generate income via stocks that are very stable - "widows and orphans" stocks; decades ago, regulated utility companies served this role). GS Rising Dividend seems to fit that profile moderately well (except for a virtually nil yield).
Note that M* calls it a LC blend fund. Its portfolio has been centered on large cap growth for the past three years, and large cap blend before that. (This suggests that M* will soon reclassify it as LCG.) Lipper too recognizes it not as a LCV fund, but as an equity income fund (despite its lack of yield).
It's now available load-waived through brokerages as GSRAX.lw. Incredibly low turnover (2%) that likely more than compensates for its somewhat pricey ER (1.2% for the GSRAX A shares).
Comments
Ran a M* screen, came up with Nuveen NWQ Flexible Income A NWQAX.lw, now available at Fidelity, Schwab, and probably elsewhere w/o load. Just a tad over three years old, a conservative allocation fund with low volatility (even for the category), lots of preferreds and some floating rate notes, from a family with a good reputation for bond and hybrid funds.
Since I only occasionally glance at CEFs and Nuveen open end funds haven't been load-waived before, this wasn't on my radar.
I'm not sure I agree with you ("what's the point?"), but I believe I understand your view about LCV - you're thinking about these as traditional equity income funds (funds designed to generate income via stocks that are very stable - "widows and orphans" stocks; decades ago, regulated utility companies served this role). GS Rising Dividend seems to fit that profile moderately well (except for a virtually nil yield).
Note that M* calls it a LC blend fund. Its portfolio has been centered on large cap growth for the past three years, and large cap blend before that. (This suggests that M* will soon reclassify it as LCG.) Lipper too recognizes it not as a LCV fund, but as an equity income fund (despite its lack of yield).
It's now available load-waived through brokerages as GSRAX.lw. Incredibly low turnover (2%) that likely more than compensates for its somewhat pricey ER (1.2% for the GSRAX A shares).