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it wasn't... bond funds accrue daily dividends in their NAV, not like stock funds. the decline you saw was a market decline - movements in spreads -- see my previous explanation.
Some bond funds (like PIMCO's) do that. Others, like RPHYX, decla…
Harbor Fund, like American Beacon, to a certain extent Vanguard, and other fund families, legally manages their funds but subcontracts out the day to day management to other management companies, not specific managers.
From the prospectus:The Advis…
California may be the most worker friendly state in the US. For the most part, noncompetition clauses are void (not voidable, but void on their face) there.
That doesn't prevent companies and their lawyers from demanding that you sign them (in …
Fun with numbers. Mean is not the same as median, so it is possible for a fund to have above mean performance while still ranking below the category median. For example, if a category has five funds with performance figures of 10%, 10%, 10%, 9%, …
Morningstar provides black box ("star") ratings and white box ("analyst") ratings. M*, like Lipper and anyone else, has no problem with black box ratings. DLTNX has its totally mechanical 4* rating from M*.
Any fund that refuses to allow a rati…
The article said that Vanguard was "home of the world’s largest bond fund". Unless you're suggesting that the Total Stock Market Index Fund is a bond fund (and I don't think you are), the article is wrong.
It seems I neglected to point out what t…
I absolutely agree that past fees are irrelevant. This is a double edged sword.
The question posed in the column (and echoed in the columnist's response) is what to do if you don't like the prospects going forward. The sunk costs are indeed irrel…
While I like the column (especially his discussion of Gross' ill-fated, well-publicized wrong call on Treasuries), there are still a couple of errors in basic facts.
Vanguard has the largest mutual fund (Vanguard Total Stock Market Index), but Pimc…
@MFO Members: I recommend ignoring both Pimco and Janus, and try a little Fuss, or Gaffney.
Regards,
Ted
One might want to wait for Gaffney's ETMF (Eaton Vance Bond ETMF®) to come out and see what it looks like - it's in registration now.
To put i…
I am a flagship holder at Vanguard and, in the past, they helped me get institutional shares of a mutual fund (front load) which helped me avoid paying the sales load and got me into the lowest OER. I may contact them tomorrow and see if I can get i…
There's very little that I should have done differently in my 20s. My 30s were another matter. With more money, I had more ways to make mistakes.
In my 20s, while I was in grad school, I lived frugally (found a wonderful low rent room to rent, di…
Can't stand the "Alphabet Soup" nonsense in some mutual funds, especially the load fundsAs I wrote in another thread, this Janus fund has seven classes. Vanguard, a pure noload family, has six share classes on some of its funds - Investor/Admiral, …
... Unconstrained Bond Fund ... Share Classes are A, B, C, D, I, N, T, R, S. Classes I (institutional) and N (not sure what it stands for) have the least expensive ratio. ... I am thinking of placing some money in the fund (assuming I can get in …
"Up to 30 percent of Pimco's assets could now leave the firm, Sanford Bernstein estimates. "
Would that be the 30% give or take that left Pimco Total Return ($292B to $221B in the 16 months ending 8/31) because Gross was managing it, or the 30% tha…
Thanks. Don't know where I came up with a slightly different figure than yours (I can't blame a typo, or at least I can't figure out how my fingers could have slipped that way), but at least we're close - and you're right.
Were there not outflows ongoing before the Gross departure?
Since the net outflows for the ETF YTD through August were $50.4 million, and the net outflows YTD excluding Friday (as near as I can tell, Reuters and Bloomberg agree on this figure) wer…
Someone please check my arithmetic.
$3.6B ETF, $81.9M net withdrawals.
$81.9/$3,600 = 0.0255 = 2.55%
Where is this 13% coming from?
(M* says that BOND has $3.57B, so the Reuters figure on fund size seems about right, even after the $10.9M with…
What? No B shares?
This is what happens when you have fund families that try to sell funds through all channels - traditional (load-based) advisors, wrap accounts, direct retail, supermarket, retirement plan, and institutional. Three families co…
I concur about the value to Janus being overrated. If I may slow down a bit here, and try to be a little more analytic:
Gross does have an outstanding 10 year and longer record, which various reports have pointed out. Whatever the management co…
The filing says that it is effective Oct 6th. Janus is just going ga ga. On its list of bond funds, it no longer lists Unconstrained Bond Fund, but does list Global Unconstrained Bond Fund, which legally doesn't exist for another ten days.
When…
Maybe I'm reading too much into this paragraph from the PR, but it doesn't seem to me that Gross will have anything to do with JUCDX:
Mr. Gross will ... be responsible for building-out the firm’s efforts in global macro fixed income strategies. His …
"There may be many smiles at the Pimco offices today."
Yep. Nobody wants to work in the middle of a live soap opera. Now I wonder how many people are going to welcome Bill Gross at Janus with clenched smiles? Isn't that why Janus gave Gross his o…
Gross leaves with PTTDX (retail version of his flagship fund) barely in the top half (48th percentile) for the past five years, and lagging substantially this year. Desertions have raised doubts about his management abilities (in the PR, he says h…
Maybe I wasn't quite clear. If your cursor is over the SAI and you right click, the menu includes "This Frame". A couple of submenu items are to open in new window or in new tab. Either way, that gets you a webpage with just the SAI. You can…
When Fidelity first offered Full View, I spoke with their tech people, who said that Fidelity was running Yodlee software on its servers behind its firewall. With the update for Fidelity (about a year ago?) it now looks virtually identical to what…
Thanks for the review. It looks like you got a nice selection of food :-)
Here's the link for the webcast (the page says it will be available in October):
https://www.columbiamanagement.com/acorn-investor-meeting
I was so repulsed by the new site that I haven't taken another look in several weeks. Here are some annoyances:
- message box floats above the Summary data - I have to dismiss or move it (unlike the old version where I could see a notice, but it…
FWIW, in Firefox, you can right click over a frame (the SAI on M*) and display that frame in a separate window/tab. From there you can print the contents of the SAI. (This doesn't work on IE; haven't tried Chrome, Opera, etc.)
However, M* disp…
P.S. I tried the new Fido website and it's pretty bad, IMHO. I hope they continue to give us the option of using the old website, but I doubt it.
An FAQ on the info page for the new site suggests that they're planning to remove that option:
Can I …
Sigh. http://us.matthewsasia.com/resources/docs/pdf/literature/SAI_current.pdf
(The link is on Matthew's Literature and Forms page. Since there's a single SAI for all the funds, the link is shown after all the per-fund links.)
Suffice to say, I moved a lot of money to Schwab. I have my 401K and Rewards Card with Fidelity now. Nothing else.That seems a bit counterproductive. In order to receive 2% on the Rewards card, the rebate must be deposited into an eligible Fidelit…
Since I've broached this thread, I'll say what one of my brokers does well. I'm not going to name the broker, because this is a full service broker (apparently an anathema here), and because the firm is not one of the half-dozen or so "names" toss…
Suffice to say, I moved a lot of money to Schwab. I have my 401K and Rewards Card with Fidelity now. Nothing else.That seems a bit counterproductive. In order to receive 2% on the Rewards card, the rebate must be deposited into an eligible Fidelit…
In case you're wondering what changed, Vanguard loosened the restrictions. You used to be limited to $25K per SSN (across all accounts); it's now $25K per account.
New wording: Current PRIMECAP Fund shareholders may invest up to $25,000 per Fund a…
Technically, OJ posted a URL (wrapped in IMG HTML); he did not copy the image. Rather, each person, when reading this page, invokes software (a browser) on one's own machine that goes out and fetches that image from the copyright owner's designate…
Quick addendum - it looks like Merrill Edge may provide NTF access to F-1 shares. At least they list this class in their fund searcher (while they don't list classes they clearly don't sell, like F-2).
Has anyone checked this out? As part of tha…
American Funds offers 59 funds (not 57). One of these funds never charges a load. It's a MMF, but MMFs in load families used to charge loads (e.g. I believe Fidelity Select MMF used to charge the same 3% load that Fidelity charged for its Select F…
OJ - thanks for the memories. While there's a lot more information available now than back then, I'm not convinced that investing is any easier. For example, in the past few years, the thinking on designing 401K plans has shifted from "offer ever…
Ouch.
And someone needs to help counterbalance M*'s blind coverage in the case of AF.
On the ER stat. If you ignore load, yes ER is good with AF. But you shouldn't...and neither should M*.
Thanks OJ. Understand. In years long past, most funds had…
