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By keeping the Investor shares around, and by using those Investor shares in VTTVX, Vanguard is able to collect an extra 0.11% in fees while claiming to have a 0% management fee on VTTVX. This is deceptive.
But Vanguard doesn't claim this at all.…
Here's the official announcement from Artisan: https://www.artisanpartners.com/individual-investors/news-insights/news/press-releases/2018/changes-to-the-global-value-team.html
I have been thinking about reducing my holding in ARTKX, but will start…
Don't talk about it much, but PIMCO StocksPLUS Long Duration PSLDX has become my biggest holding. It's available for reduced minimums at Vanguard, TD Ameritrade, possibly others. Discussed a bit here: https://mutualfundobserver.com/discuss/discuss…
@GP felt that having a frontier product would be better run under the Rondure umbrella given the track record and experience that Laura Geritz brings.
I would be very interested in hearing about a frontier markets fund offering from Rondure. That …
The 3Q commentary for RPHYX is now available here: http://www.riverparkfunds.com/Funds/ShortTermHighYield/Commentary.aspx
Somebody else can explain this more clearly, but my quick takeaway is that the manager is concerned about the Fed's stated goa…
I wrote this post on RPHYX / RPHIX not too long ago: https://mutualfundobserver.com/discuss/discussion/35593/target-return-of-riverpark-short-term-high-yield-rphyx-rphix
Basically, RPHYX / RPHIX was originally billed as targeting a return of 3.5% -…
The 1.74% expense ratio is not entirely a good representation. Take a look at the expenses reported here (under "Fund Expenses"): https://www.rivernorth.com/mutual-funds/rnsix-rndlx
For RNDLX, the "direct" expenses are 1.11% and the "total" expens…
You probably have your expectations set a little too high. Beating the S&P every year -- even by a little bit -- is near impossible and too much to ask for any fund. If you aren't going to match the market, the best you should hope for is to o…
I wonder what to make of RNWIX holding only 6% in frontier markets. Does this suggest that Geritz feels that in an emerging markets portfolio, less than 10% should be allocated to frontier markets? (Either as a general rule or based on the curren…
I had looked at RNWIX, but it is primarily a emerging markets fund with just a small amount of frontier market companies mixed in. It may still be a fine fund, but it doesn't really fit with the other options discussed here.
Reviving an old thread since the comments here are still on point. I was looking for a replacement for WAFMX, having been disenchanted since Laura Geritz' departure (and a little bit before that). Two options caught my attention, both old funds tha…
You might be interested in Polaris Global Value PGVFX. Under 100 holdings, mix of mid, small and large caps, around 60% international. Same team also runs the successful Pear Tree Polaris Foreign Value Small Cap fund QUSOX.
MFO previously profile…
I am considering moving from WAFMX to Rondure New World Fund. Rondure New World Fund will invest in "both emerging and frontier" markets, so it won't be a pure frontier fund. Fees and expenses on Rondure New World Fund are capped 1.35% (Investor c…
This fund has been talked about on this board:
http://www.mutualfundobserver.com/discuss/discussion/23366/winning-managers-in-alt-space-are-tough-to-find-hfxix-masfx
http://www.mutualfundobserver.com/discuss/discussion/10507/catalyst-hedged-futures-…
ZEOIX - not available at Brokerages (I know, I know, I'm being picky)
ZEOIX is available at Fidelity, Schwab, Scottrade, TDA, and Vanguard according to Morningstar: http://financials.morningstar.com/fund/purchase-info.html?t=ZEOIX&Country=usa
My vote is Polaris Global Value PGVFX, profiled by MFO here: http://www.mutualfundobserver.com/2014/12/polaris-global-value-pgvfx-december-2014/
Follow-up conference call: http://www.mutualfundobserver.com/2015/01/polaris-global-value-pgvfx/
Just playing along at home...did you mean to press "V" for VBIAX in the Title of your thread?
I also saw the thread title and thought this thread was going to be about one of those once-vaunted Whitebox funds making a comeback.
@claimui. Isn't ARTGX doing well because it has some US stocks? higher dollar is what is killing international stocks. One would expect ARTKX to underperform ARTGX.
To clarify, I meant that they are doing well compared to their respective categorie…
Am wondering if the time is coming to get out of artkx. Had a great run, but nothing lasts forever, and if the parent company is losing its culture, could be time to take profits
ARTKX has been in the top 10% of its category almost every year. Afte…
As a WAFMX investor, performance over the last year has been disappointing. However, I would not be too quick to blame the manager change. WAFMX was already significantly lagging before Geritz's leaving was announced. I would certainly be interes…
I am still holding Artisan International Value ARTKX. It had some lagging periods over the past year, but has since rebounded well. Artisan Global Value ARTGX is managed by the same team, with similar results.
Artisan International ARTIX, on the …
MFO profiled QUSIX here: http://www.mutualfundobserver.com/2015/02/pear-tree-polaris-foreign-value-small-cap-qusoxqusix-february-2015/
That said, if you like the thinking behind QUSIX, you might be more interested in their global strategy PGVFX: ht…
I use VTMSX as my small-cap holding in a taxable account. IMO, it is very difficult to find consistent performers in actively managed small cap funds. It is easy to see who has hit home runs in the past... but not so easy to figure out who will hit…
This was brought up during Mitt Romney's presidential campaign, when the media noted that he had an IRA worth $100 million. IIRC the answer was that as a partner at a private equity fund, Romney was able to put some of his partnership interest in hi…
I allocate part of my portfolio to "alternative" strategies. Results to date have been generally terrible. Hopefully I will learn some lessons along the way, albeit painfully.
I think it is very important to define at the outset exactly what you …
I looked quickly through Vanguard's fund pages, all of which conveniently show bar graphs comparing each fund's performance with their benchmarks, as of Q2 2016 (June 30).
I didn't see a single target date fund where the fund's performance has exce…
On taxes, the unique "feature" of REITs is that almost all dividends are taxable as ordinary income (whichever bracket you are in). In contrast, most other stocks pay "qualified dividends" which are taxed at much lower rates (0% or 15% for most fol…
PSLDX's performance is amazing when compared to the S&P 500. But I think your intuition is correct and its outperformance is mostly attributable to long-term bonds.
I looked at PSLDX's fund page here: https://www.pimco.com/investments/mutual-f…
TD Ameritrade offers Institutional shares of PIMCO funds without any minimum (but with a transaction fee). Vanguard offer them with a $25,000 minimum (also transaction fee).
FYI, WAFMX's second quarter commentary is up now (with no mention of Laura Geritz): https://secure.wasatchfunds.com/Our-Funds/Commentary.aspx?fund=WAFMX
It seems the managers attribute most of the underperformance to the overweight in consumer stap…
Vanguard has this info for their mutual funds and ETFs here: https://personal.vanguard.com/us/insights/taxcenter/qdi/yearend-qualified-dividend-income-2015?Sc=99
I am not very familiar with DRFRX, but its managers are also on the team of DRESX (Driehaus Emerging Markets Small Cap Growth Fund), which MFO profiled here: http://www.mutualfundobserver.com/2014/03/driehaus-emerging-markets-small-cap-growth-fund-d…
The biggest issue with the Driehaus fund is the $250K minimum investment/$100K for an IRA but if you're investing that kind of money then I'm also impressed with their approach. Is anyone aware of exceptions being made?
DRFRX is available on TD Am…
I invested in WAFMX because I wanted exposure to frontier markets and because I saw promise in its consumer-heavy weighting. There are not a lot of options for frontier markets funds in general, and I believe all the others are more focused on fina…
Catalyst Macro Strategy MCXIX is down an amazing -23% for the year. I know I'm not the only one here that invested in it, but I'm guessing the others don't want to talk about it either.
Response from Sequoia's David Poppe:
For many years Sequoia Fund has clearly disclosed that we can and do pay large redemptions with securities rather than cash, and we have done so thousands of times before this year without incident. So we were pu…
Also of interest: Sequoia Fund (SEQUX) sold 1.5 million shares of Valeant sometime last week (presumably not before the stock price fell over 50%). These were the Valeant shares that Sequoia added last October to its already oversized position, whi…
VRX went down another 11.54% on Thursday. But SEQUX was actually *up* 0.20%
I don't think Sequoia has sold any shares. Rather, VRX's stock price has apparently dropped so low that it's probably now only represents 10% or so of Sequoia's portfolio…
The "largest ten holders" of VRX is probably not that interesting -- as msf pointed out, many of these funds are huge and VRX is only a tiny fraction of the portfolio, in relative terms.
A more interesting statistic is the list of the most "concent…
With the decline in emerging markets, I've been looking to add to my position in GPEOX, but it was hard closed and WAEMX was closed to new investors. I've been using Driehaus' DRESX instead. The diversification has worked well lately, but I think …
