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.
The fund made a capital gains distribution of $4.97 a share. Assuming that you have your account set to reinvest dividends and capital gains distributions, that money immediately went to buy more shares of the fund for your account at the new, lower price. The distribution did not decrease the value of your account but it did, likely, increase your 2014 federal tax bill.
This is an unusually large distribution reflecting the fact, which we reported on in fall, that the fund is being repositioned from a "quality growth" fund under its old managers to an "absolute value" one under the new guys.
Dear Jodillon: Here's Why ! Of the funds top ten holdings, only two have positive returns YTD. It's a decent fund, don't give up on it. Regards, Ted http://finance.yahoo.com/q/hl?s=FPRAX+Holdings
Comments
This is an unusually large distribution reflecting the fact, which we reported on in fall, that the fund is being repositioned from a "quality growth" fund under its old managers to an "absolute value" one under the new guys.
As ever,
David
Regards,
Ted
http://finance.yahoo.com/q/hl?s=FPRAX+Holdings