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Morningstar, Day One: recs from Morningstar's top four fund experts on undiscovered managers

David_Snowball
edited June 2013 in Fund Discussions
Consuela Mack ran a panel discussion with Russ Kinnel, Laura Lallo, Scott Burns and John Rekenthaler. One question: "what are your recommendations for boutique firms that investors should know about, but don't? Who are the smaller, emerging managers who are really standing out?"

Dead silence. Glances back and forth. After a long silence: FPA, Primecap and TFS.

There are two possible explanations: (1) Morningstar really has lost touch with anyone other than the top 20 (or 40 or whatever) fund complexes or (2) Morningstar charged dozens of smaller fund companies to be exhibitors at their conference and was afraid to offend any of them by naming someone else.

Possible answer: a number of advisors are searching for management teams that has outstanding records with private accounts and/or hedge funds, and are making those teams and their strategies available to the retail fund world. Exemplars include ASTON, RiverNorth and RiverPark.

Possible answer: a number of first-tier investors have walked away from large fund complexes to launch their own boutiques and to pursue a focused investing vision. Exemplars: Grandeur Peak, Oakseed, Seafarer.

Comments

  • CharlesCharles
    Not surprised David. I do agree with your two answers. BRTNX, COBYX, GOODX also come to mind.

  • beebee
    I'm going to add a old boutique fund..BRUFX. Hard to access...but maybe that's a good thing. A father-son duo that keep the portfolio truck driving down the road.
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