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.
Support MFO
Donate through PayPal
Nuveen Tradewinds Value Opportunities (NVOAX) Fund
I forgot to post this the other day after I saw it. I think it'll send a lot of people away from the fund - Iben did consistently very well and his replacements are unknowns.
If you ask me absolutely. Then again the reason I did not invest in the fund after selling other funds and raising cash is because David Iben did not have any personal investment in the fund.
What I would do is follow David Iben if I can. If you hear of Iben funds,...
Reply to @scott: Ibartman passed along word of Iben's departure earlier this week. According to the story he shared, Iben was hired by Jeff Vinik - former Fidelity Magellan manager - to work with his hedge fund firm, Vinik Asset Management.
Thank you for the update. I own a sister fund, NWGAX, that Mr. Iben also managed. I have been following it closely as it has lagged some other funds with a global focus that I own. Perhaps, his departure is the reason. I invested in the fund because Mr. Iben's tallent and not so much the fund itself. With this in mind, it will be gone form my portfolio tomorrow.
As a replacement I am looking at a fund by Janus, JORAX. I have it currently under review ... but, I most likely will wait until a pull back in the market before I start to position into a replacement fund.
Thanks again for the update .... It is most appreciated.
For a value-leaning large cap fund, their analysts would recommend Sequoia (SEQUX) and Yacktman (YACKX). Over the past 3 and 5 years, YACKX leads the group with Sequoia and Tradewinds pretty close in performance.
I don't own it, but I think David Winters at Wintergreen is an excellent manager (WGRNX) and is similarly global. WGRNX has not outperformed NVOAX overall, but has outperformed it over the last couple of years by a pretty decent amount. Hopefully the linky below will work.
YACKX looks very interesting. Actually YAFFX is similiar, but NTF at Fidelity and TDA. WGRNX is interesting, but has a very high expense ratio. I am also looking into Berwyn Income (BERIX), although it is different than NWGRX and is also a transaction fee fund.
Something a bit less expensive than WGRNX is ARTGX which is another good global fund.
There isn't 1 single fund that's close to Nuveen Tradewinds but since I have some global funds including IVWIX, ARTGX and RIVFX --- I should be fairly well covered and am ok to drop Nuveen Tradewinds. Iben seems to like Mining/Materials/Industrials as his Global funds have a sizable and top allocation to that sector. RIVFX (Royce Global Value) for me provides that similar Mining/Materials/Industrial sector allocation which they also have as a sizable and top sector holding.
I thought of watching for a while but i am selling it on Monday.
Reason: M* has a new front page article saying that a lot of his staff are also leaving in June. http://news.morningstar.com/articlenet/article.aspx?id=541029 I will be adding to ARTGX,SGIIX and SFGIX (upon brokerage availabilty) ,once market pulls back.
Comments
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/03/13/bloomberg_articlesM0U8O06VDKHT01-M0UHO.DTL
What I would do is follow David Iben if I can. If you hear of Iben funds,...
The story: http://www.mfwire.com/article.asp?template=article&wireid=2&storyID=39454&bhcp=1.
For what it's worth, David
Thank you for the update. I own a sister fund, NWGAX, that Mr. Iben also managed.
I have been following it closely as it has lagged some other funds with a global focus that I own. Perhaps, his departure is the reason. I invested in the fund because Mr. Iben's tallent and not so much the fund itself. With this in mind, it will be gone form my portfolio tomorrow.
As a replacement I am looking at a fund by Janus, JORAX. I have it currently under review ... but, I most likely will wait until a pull back in the market before I start to position into a replacement fund.
Thanks again for the update .... It is most appreciated.
Good Investing,
Skeeter
http://www.businessweek.com/printer/articles/15226?type=bloomberg
Skeeter
For a value-leaning large cap fund, their analysts would recommend Sequoia (SEQUX) and Yacktman (YACKX). Over the past 3 and 5 years, YACKX leads the group with Sequoia and Tradewinds pretty close in performance.
For what it's worth,
David
http://finance.yahoo.com/echarts?s=NVOAX+Interactive#chart4:symbol=nvoax;range=2y;compare=wgrnx;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
http://www.smartmoney.com/quote/nvoax/?story=risk
An observation that is confirmed by the following from Yahoo:
http://tinyurl.com/NVOAX-PAVIX
But a check on the ING website indicated the source of the similarity (and that fund is closed)... ;^(
http://www.ingfunds.com/MutualFunds/profile/index.htm?f=126&tab=Overview
oops...
There isn't 1 single fund that's close to Nuveen Tradewinds but since I have some global funds including IVWIX, ARTGX and RIVFX --- I should be fairly well covered and am ok to drop Nuveen Tradewinds. Iben seems to like Mining/Materials/Industrials as his Global funds have a sizable and top allocation to that sector. RIVFX (Royce Global Value) for me provides that similar Mining/Materials/Industrial sector allocation which they also have as a sizable and top sector holding.
Reason: M* has a new front page article saying that a lot of his staff are also leaving in June.
http://news.morningstar.com/articlenet/article.aspx?id=541029
I will be adding to ARTGX,SGIIX and SFGIX (upon brokerage availabilty) ,once market pulls back.
David
YTD Returns:
NWGRX...+6.34% (Nuveen Tradewinds Global All-cap)
JGV.........-0.83% (Nuveen Tradewinds Global Value Opportunities)
ARTGX: +9.66% (Artisan Global Value)
TBGVX: +9.75% (Tweedy Browne Global Value)
DODWX: +15.10% (Dodge & Cox Global Stock)
OAKGX: +17.02% (Oakmark Global)
PTHDX: +9.41% (Pimco Pathfinder)
RIVFX: +14.36% (Royce Global Value)
RGVDX: +15.55% (Royce Global Dividend Value)
VHGEX: +14.20% (Vanguard Global Equity)