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RCTIX - Manager Change

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Comments

  • edited April 1
    I have a 401(k) and a taxable account at Fidelity.
    Previously, my Roth IRA was also at Fidelity.
    I've received good customer service the relatively few times that I've called them.
    Granted, there were several occasions where I was on hold a bit too long.
    Customer service reps couldn't answer my questions once or twice.
    The reps said they would investigate further and contact me at a later date which they did.
  • sma3 said:

    Schwab still lists RCTIX as $2500 minimum but with $50 fee if anybody is interested.

    But I think I am out as well, when the manger disappears

    But there are so few alternatives that are not under lots of water.

    Anybody else a bit concerned that RPHIX seems to be one of few bond funds even treading water?

    JASVX is a reasonable alternative to RCTIX.
  • edited April 2
    Junkster said:

    sma3 said:

    Schwab still lists RCTIX as $2500 minimum but with $50 fee if anybody is interested.

    But I think I am out as well, when the manger disappears

    But there are so few alternatives that are not under lots of water.

    Anybody else a bit concerned that RPHIX seems to be one of few bond funds even treading water?

    Bank loan (bond) funds have been on a run the past couple weeks and some now positive for the year.

    Even more surprising is RPIEX, UP 2.68% YTD!
  • @Charles: tantalizing discovery of legal problems of a certain Menozzi. Who he? What have I missed in this thread?
  • According to that SEC disclosure Charles posted, it all stemmed from a 1997 DUI that was plea bargained, and he must have misrepresented the outcome (?). Says nothing about financial fraud or anything like that.

    Seems like I've seen that used as a knock against Semper, which if this filing is the whole truth, is a bit over the top.
  • Not just simple DUI. Original charge was felony resisting arrest with violence.

    It shows up in SEC because he apparently lied about it on disclosure forms for SEC and Florida regulators

  • @BenWP

    It's something I always check when looking into potential funds. So, when I saw JASVX mentioned, wanted to share.

    c
  • OK, @Charles, now I can connect the dots. As @sma3 pointed out, the problem for the PM was exacerbated by an apparent attempt to cover up his record.
  • This does not bother me at all in terms of whether the guy is a competent and professional investment manager. One bad event in 1997? You're making many assumptions to say he "lied about it" over 20 years later. The charge was downgraded to a non-felony. The application in question asked for whether he was "charged" with a felony and he should have checked yes. I have a buddy (lawyer) who made the exact same mistake on his Fla. bar application. In his mind over 2 decades later he remembered the event and what the final result was, not the initial charge. The Fla bar tortured this guy mercilessly even though he was a practicing lawyer for years elsewhere with no issues.
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