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.
Long term lurker here from the fundalarm days who has greatly benefited from the discussions. But sadly, the tone has become one of vitriol and ridicule towards those who are of a different political or philosophical bent. I’m saddened because this …
Excellent explanation Yogi. Thank you. I appreciate it. I was confusing the inflation adjustment (which is to principal) and not considering the low coupon rates on the bonds themselves. Well explained. Thank you.
By making ridiculously small quarterly distributions is FIPDX playing the system by claiming to make quarterly distributions when in reality they only do it once a year in December? Wouldn’t that be considered deceptive sales tactics?
Thanks Yogi …
Regarding Fidelity’s TIPs index fund, FIPDX, does anyone know why the fund only makes yearly, instead of monthly, distributions? This seems odd for a bond fund. Thanks. Mike
Thanks David. What's so interesting is that it seems the fund has been given the OK as of May 3rd.
https://www.sec.gov/Archives/edgar/data/915802/000139834416012748/fp0019074_485bpos-xbrl.htm
There was a previous prospectus approved by the SEC on …
Re-opening the fund to existing shareholders with a maximum investment dollar amount (say $25,000) would satisfy the desire to add to GPEOX while maintain the fund's small asset size.
Thanks vkt. I value your insightful response. It is times like these that your question, "Do we really need to invest in such funds?" truly hits home.
P.S. I deleted the gentlemen's phone number and address. Thanks for catching that.
Mike
I was fortunate enough to get a follow-up reply from Angel Oak to this email:
May I ask one more question? How disruptive to the fund’s daily operations is the large outflow of assets that have occurred over the past four months? As of 9/30/15, the…
Here is the response that I received from the email I sent to Angel Oak.
Hi Mike,
Our information desk sent me over your inquiry on the ANFLX move yesterday. I cover the central territory with my partner, so feel free to reach out to me directly g…
I should have monitored their AUM, perhaps it was sending us a clue: $421MM on 9/30/15. It is now $327MM. A drop of 22% in less than four months for a bond fund!
Wow! Outstanding Charles! Very professional. Thank you for your great dedication and work effort. You and David have made this a first-class website and learning center.
That's too bad. I'm invested in RAIIX and have been very pleased with its performance and small asset base. I'm particularly concerned by this sentence in the press release:
"The transaction is structured with an initial upfront cash payment funded…
It's been a rough three months for my largest holding Angel Oak Flexible Income fund ANFLX. It seemed (might still be) a promising young fund with an unconstrained approach from a good bond family. I thought of it as a young ANGLX. It is heavy into …
Does "Existing Grandeur Peak Fund shareholder" include only those holding shares directly with Grandeur Peak? All my shares are held by Schwab and Vanguard.
Do any of you remember the opening of PBHG Limited back in the late 90's? That was a microcap fund that was open for all of one day and took in roughly $100MM on opening day. The fund never lived up to its hype. Will history repeat itself?
I just spoke with a representative of JOHCM who mentioned that as of end of February, JOMIX was available in a limited number of states (CA, NY, FL, VA, TX, plus a few others). He said their goal is to make it available in all states. When? He didn'…
Hi Kevin. I received the same message you did, "The mutual fund you entered is not authorized to be traded in your state." I might try contacting JOHCM and will get back to you.
Mike
Ditto Vert. I began a small position in Qusox after January's commentary brought the fund to my attention. Thanks David! I agree that with grandeur peak funds all closed, Qusox seems to be the best alternative plus it complements those funds sinc…
It may be a liquidity issue more than anything else. Perhaps the manager wanted to put some cash to work quickly and wouldn't be able to do so in some of the small cap names. I see this more as a temporary move.
Good observation.
According to Pimco's website, the assets of PQTDX consist of:
Percent of Risk Allocation as of 12/31/14
Rates 41.83
Currency 38.81
Commodity 13.42
Equity 6.36
Volatility -0.42
https://investments.pimco.com/Produ…
Charles, thank you for your sacrifice, dedication, and professionalism that you have consistently shown MFO since you joined. Your work complements David's wonderfully.
As a former engineer, I am a stats/numbers junkie. Perhaps that's why I so appr…
David, I would be interested in his thoughts on the strong US dollar and its impact on the fund's performance. Does he hedge his currencies in the international SCV fund?
Thanks David.
Mike_E