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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.

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Funds I don't know about

tschucha
edited June 2013 in Fund Discussions
This is a request for people to post the names of some lesser known funds that I should be aware of. I learned about The Fairholme Fund (FAIRX) on FundAlarm or Morningstar this way almost a decade ago with very good results. I'm interested in opinions of other hidden gems . I'm not looking for a particular style of fund, just something that you feel is well run and does what it sets out to do well. Mairs and Powers growth (MPGFX) and balanced funds (MAPOX) would be also appropriate for this list. Suggestions anyone?

Comments

  • David_Snowball
    You might check under the "Funds" tab. With few exceptions, the funds were profile represent the universe that's off of Morningstar's radar: records of less than three years and/or fewer than $100M AUM when they're first profiled, often though not always from boutique firms.

    For what it's worth,

    David
  • fundalarmfundalarm
    David, any plans to look at GAINX?
  • Joe
    I like MASNX/MASFX, a relatively new alternative strategy fund. Promises to give bond like returns without interest rate risk and not correlated to stocks. It seems to be fulfilling the promise so far and I think it is an interesting alternative to all bond funds at this point.

    Joe

  • CharlesCharles
    edited June 2013
    Reply to @fundalarm: Of 59 funds in World Stock category older than 1 year but less than 3, GAINX is a top performer...through March anyway. Will revisit in July. Here are 1 year numbers, along with other top performers in this increasingly popular category:

    image
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  • CharlesCharles
    Reply to @Joe: Another top performer to date. Here's recent post by David: Morningstar, Day Two: Matt Eagan on where to run now
  • CharlesCharles
    edited June 2013
    FAIRX? Don't get me started. If Mr. Berkowitz was as consistent as he is good, Fairholme would still have $20B AUM.

    Here is comparison of FAIRX with other top performing 10 year funds in large value category:

    image
    image

    FDSAX and especially RIMHX have managed to stay out of limelight. TWEIX is top-flight. I've always been impressed with AUXFX...certainly qualifies for "hidden gem" consideration. (Profiled in early days by David at Fund Alarm.)

    MAPOX and MPGFX are simply great. Congratulations on owning them. Here's how they compare with other top 20 year performers in attendant moderate allocation and large blend categories. Several other great names on this list...

    image
    image
  • MikeW
    Thanks very much for providing this breakdown Charles. Could you please tell me where FPA Crescent falls in the rankings? I thought that it was one of the top performing moderate allocation funds and I believe it has a 20 year track record.
  • CharlesCharles
    edited June 2013
    Reply to @MikeW: It is indeed a top performer. As of March anyway, it's in 10 year group. Believe it started June 1993. Will revisit next quarter...or, certainly in 3Q. Here's comparison with other top moderate allocation 10 year funds:

    image
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  • MikeW
    Thanks so much for the quick response! Greatly appreciated. I've probably missed this but have you done a similar analysis on the international and global funds side? If not, I can wait.
  • beebee
    Reply to @Charles:

    Thanks Charles,

    Anyone have a handle as to what the 25% "other" happens to be in the TWEIX portfolio?
  • tschucha
    Thanks all for some interesting funds to research!
  • Old_JoeOld_Joe
    edited June 2013
    Charles, your contributions to MFO grow more stellar by the day. I much appreciate your commentary, and especially like the clear and aattractive formatting of your graphics. You are very much an asset to all of us.

    Thanks- OJ

    Now- if only you can find me a TWEIX that isn't closed to new investors...:-)
  • David_Snowball
    Reply to @Old_Joe: A thought rather than a recommendation: perhaps American Century Value (TWVLX)? Same manager, better returns, one-fifth the size, lower yield, lower turnover, comparable cost. Mr. Davidson helps run four funds for American Century and Value seemed the closest match. David
  • Old_JoeOld_Joe
    Hi David and thanks much for the suggestion. I'm particularly interested in the American Century fund family, as we have a long-established account there which is currently mouldering away as mostly cash.

    Maybe I'm not looking at this correctly, but it seems like TWEIX has better downside protection, at least in looking at the 2008/09 period, and in all honesty TWVLX seems to track the S&P so closely I don't see much advantage there. If I'm missing something here I'd appreciate your insight.

    Regards- OJ
  • fundalarmfundalarm
    Reply to @Charles: Thanks, Charles. it's not just the short-term performance that stands out. its youth, its tiny size ($2mm), and its generous fee reimbursement until March 31, 2015..i am giving them a small allocation..
  • mnzdedwardsmnzdedwards
    Reply to @Old_Joe:

    Ditto.

    David, have you ever been approached about selling the rights to MFO?

    Mike_E
  • AndyJ
    edited June 2013
    Reply to @Old_Joe: Hi OJ, don't know if this will make much difference in the case of Am Century, but you might consider adding Q3 2011 and Q2 2012 to the list of downside data points. They add some recency to the data set, including risk-asset downturns that weren't complete catastrophes, and so kinda round out the range of possibilities. I've been finding that those add to my understanding of how fund managers do in the bad times.

    FWIW, AJ
  • David_Snowball
    Reply to @mnzdedwards: In the "has someone ever tried to buy MFO from me" sense?

    If so, nope.
  • David_Snowball
    Reply to @Old_Joe: Value captures substantially less downside than the market does (70-90% of downside, depending on the time frame) and Equity Income captures substantially less than that (40 - 65%). But Value captures 85-90% of the upside while E.I. captures 70-80% of it.

    The Sharpe ratio, which accounts for both factors, favors Equity Income by a bit but not by a lot.

    Like Equity Income, its R-squared is in the low 90s.

    As ever,

    David
  • Old_JoeOld_Joe
    Reply to @David_Snowball: Thanks much, David. Appreciated.
  • mnzdedwardsmnzdedwards
    Good. I would hate to see such a young, blossoming website ruined by being bought out by a large corporation.

    Keep up the great work. It is very much appreciated.
  • CharlesCharles
    Reply to @bee: From June 2013 Annual Report. Think it much of it may be Convertible Bonds at 12.8% and Convertible Preferred Stocks at 10.6%.
  • David_Snowball
    edited June 2013
    Reply to @mnzdedwards: (chuckles) I think you're safe on that front.

    I have been thinking of marketing a nice line of MFO-branded linens (Owl Towels?), small household appliances and cookware. Maybe an upscale print pub, MFO Living?

    David
  • MaxBialystockMaxBialystock
    :)
  • Old_JoeOld_Joe
    Reply to @David_Snowball: I'd kinda like some MFO boxer shorts- white, with the owl, maybe?
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