So, should I dump MSCFX Mairs & Power Small-Cap?

Comments

• Puddnhead

  January 2018

  Hi Crash,
  Dump it! I use DISSX its an index and it beats this fund. Also, MAPOX is expensive on P/E and book in its space. If, and I say if I were going to invest in US, FLPSX would be it.....good P/E, book and it has cash. With 40% overseas, just saying......
  And, by the way, this was recommended by someone else on the board......sorry, I forget who. But they made a good call, just saying. Or, you could hold some cash also.
  God bless
  the Pudd
  
• bartab

  January 2018

  Kind of different.
• Crash

  January 2018 edited January 2018

  @bartab not sure what you meant, there? @puddnhead: I'll keep MAPOX, the ER doesn't bother me. It's in the same category with PRWCX. But PRWCX writes stuff against its own holdings, now. That, I guess, is why it deserves the higher risk profile. MAPOX has proven itself to me: consistent, reliable, even if it does not light the world on fire. And I like the quarterlies. Thanks for chiming-in. Anyhow, I've got small-cap covered with PRDSX and VSCIX. ... And YES, I just pulled the trigger. In that fund family, all I own now is in MAPOX, as of tomorrow night.
• Ben

  January 2018

  I'm keeping my shares for now. The 4 cents one day loss represents .015 of the share price. That's not enough to bother me even on a day that the index goes up. MSCFX after all is not invested in the index.When the index goes down perhaps this fund will also not move in tandem. That's my 2, 4 cents.
• 00BY

  January 2018

  I am holding mine and adding periodically
• LLJB

  January 2018

  I'm holding too. I dumped FSCRX and bought MSCFX last year as Myers' retirement grew closer and I normally give funds at least a few years to make me happy before I'd consider dropping it for another. What I've been hoping for, for a number of years now, is Grandeur Peak's US small cap fund. I'm pretty confident they're just waiting for a time that looks opportune to register the fund but whenever that happens MSCFX will either be eliminated or at least limited to its then current value in my portfolio.
• Ben

  January 2018

  @LLJB: is a Grandeur Peak US small cap fund a pleasant personal idea or is it something you know has been discussed and planned by Grandeur Peak?
• Ben

  January 2018

  And today MSCFX is up higher than it was before it went lower. Not much of a roller coaster ride, just little rippling bumplets.
• Crash

  January 2018

  Yes, and MAPOX is down. A nice coincidence, that today was at least minimally advantageous, having already made the decision to sell MSCFX. When it was hot, I used it at year-end to feed profit into MAPOX. I did not do that this past December. Anyhow, I can say it served me well. My other two are simply doing better, and I'll continue to ride them. One is my wife's 403b. VSCIX and PRDSX. The first is an Index fund, the second is a quant fund, so they were never trying to do what Andrew Adams is doing at MSCFX.
• LLJB

  January 2018

  Ben said:

  @LLJB: is a Grandeur Peak US small cap fund a pleasant personal idea or is it something you know has been discussed and planned by Grandeur Peak?

  @Ben, this from David's commentary roughly 6 months before Global Micro Cap and the Stalwarts funds were being launched, which was September/October 2015.
  
  "Funds in Registration
  
  This month our research associate David Welsch tracked down 14 no-load retail funds in registration, which represents our core interest. By far the most interest was stirred by the announcement of three new Grandeur Peak funds:
  Global Micro Cap
  International Stalwarts
  Global Stalwarts
  
  The launch of Global Micro Cap has been anticipated for a long time. Grandeur Peak announced two things early on: (1) that they had a firm wide strategy capacity of around $3 billion, and (2) they had seven funds in the works, including Global Micro, which were each allocated a set part of that capacity. Two of the seven projected funds (US Opportunities and Global Value) remain on the drawing board(emphasis mine). President Eric Huefner remarks that “Remaining nimble is critical for a small/micro cap manager to be world-class,” hence “we are terribly passionate about asset capping across the firm.”"
  
  
  There was another discussion in David's commentary or in a fund review earlier than that and it discussed their plans for funds and their strategy in far more depth but I wasn't able to find that again easily or I just wasn't willing to keep trying once I found the above. Most likely its the latter.
  
  I don't believe I've ever seen this information anywhere else but I have exchanged emails with the leadership at Grandeur Peak a handful of times over the years with questions about when we might see these and other funds. They've never said anything to make me question the validity of these intentions and their answer about when was that they wanted to get their teams comfortable with the funds they had already started and their process before they expanded further. It seems to me that goal should have been accomplished by now and the real reason is that they're waiting for a time they consider more opportune to launch the other funds they had planned and that's what I'm looking forward to.
• Dennis Baran

  January 2018

  @LLJB You're absolutely right about the planned funds. GP has been running paper portfolios in these strategies but has no immediate plans to launch them. The first would require a significant correction or change in the U.S. market, the latter, being synergistic to the firm, would require a certain collaboration and capacity in place before undertaking a launch. Good work on your part.
• Ben

  January 2018

  Thank you ever so much, LLJB & openice. Much appreciated.