Hi guys!
Some personal information to start. I live in PA, newly retired with pension and social security. Mrs. Pudd works at the Post Office. Our son, a college grad, has moved out and is working in his profession. So, it's just us and the Dukester.
The economy is booming in our neck of the woods. Everybody's working and spending from the looks of things. Now, to the good stuff:
cash - 30%
Asset Allocation
BTBFX
VWINX - 24% - done!
Large Caps
DSENX
PRBLX - 4%
FUSVX - 3%
PARWX - 2%
Sector
RAANX
FSPHX - 5% - done!
Mid Caps
PARMX
UMBMX - 2%
Bonds - will wait 'til rates rise further to add.
PONDX - 7% - done!
GIBLX
PTIAX
Overseas
FTIPX - 5.5%
FMIJX - 4%
GLFOX - 6.5%
Hot Money
FSRFX - will be sold before 2018.
FJSCX - 4% - will be sold but don't know when yet.
Those funds not marked with a percentage (%) have small holdings, as you can guess by now.
Again, this is a portfolio under construction due to a rollover to an IRA from a 401 account.
Must go now --- why? One word........leaves!
God bless
the Pudd

GASFX was owned by FBR and sold to Hennessy in 2012. Owned the fund from 2010 to 2014. It was #1 utility fund during that time. It was comparable to GLFOX nowadays. Higher expense is only one factor, it is uncertain in the interest rate that make utility sector as a whole very challenging.

@BenW: I don't see any ROC !
Regards,
Ted
Dividend and Capital Gains Distributions GLFOX
Distribution
Date Distribution
NAV Long-Term
Capital Gain Short-Term
Capital Gain Return of
Capital Dividend
Income Distribution
Total
06/21/2017 17.08 0.0000 0.0000 0.0000 0.0004 0.0004
03/21/2017 15.28 0.0000 0.0000 0.0000 0.0210 0.0210
12/22/2016 14.22 0.0963 0.0242 0.0000 0.1569 0.2774
09/27/2016 13.98 0.0000 0.0000 0.0000 0.0212 0.0212
08/22/2016 14.10 0.0164 0.0048 0.0000 0.0284 0.0497

Just got an email from Lazard informing shareholders that the June distribution has been characterized as a Return of Capital. Heard of leveraged CEFs doing this, but not an OEF. Probably don't have to worry about changing the basis because this holding is in a Roth. Still, seems bizarre. Anyone had this experience?

I really wanted to get into GLFOX but fear that I'm too late for that train.

Have you looked at RAANX? It has a lot of cell towers, data centers,......it's not your typical RE fund, I don't think.

Right, unusual holdings - sort of r/e and infrastructure - and it's long-short. Worth a close look, imho. Thanks for pointing it out.
If you like the lean toward infrastructure, you might take a look at GLFOX.

Hi guys!
Good move, Pimco! From what I read, the banks are really bad, also. But what worries me now is GLFOX. It had, the last time I looked, 20% in Italy....soooo, that might be a problem. Just saying....
God bless
the Pudd

Thanks so far...
A REIT investment seems like a reasonable substitute for the MLP option. I have also wondered if funds like GASFX, GLFOX or a equal split of Vanguard etfs: (VPU/VNQ/VDE/VIS) would offer more diversification than an MLP investment.
I back tested MLPOX against an equal weight portfolio of (VPU/VNQ/VDE/VIS). MLPOX had a recent serious drawdown (41%) that an investor would need to expect from time to time while the combined investment of (VPU/VNQ/VDE/VIS) only a third as severe.

I understand why J. Bogle is not into International funds. There aren't a lot of Vanguard International Funds that I would want either. I do own VMVFX, along with GLFOX and GGSOX which are global funds, and FMIJX is my only truly International fund sans U.S.

You mentioned VMVFX which is a nice global minimum volatility fund with an ER of 0.25%, VWIGX with an ER of 0.32% and that is up over 18% YTD and if your want to index broadly, VFWIX or VGTSX are very good inexpensive funds.

I understand why J. Bogle is not into International funds. There aren't a lot of Vanguard International Funds that I would want either. I do own VMVFX, along with GLFOX and GGSOX which are global funds, and FMIJX is my only truly International fund sans U.S.

GLFOX. It is infrastructure fund. Not too excited but has excellent performance.

Over the past few weeks:
Bought back into GLFOX after a long absence (low vol, great record, kind of a unique take on infrastructure, mostly foreign, doing well with the rotation into utes)

Interested in GLFOX too, but thinking I may be late to the party on that one. It's had quite a run up.

Over the past few weeks:
Bought back into GLFOX after a long absence (low vol, great record, kind of a unique take on infrastructure, mostly foreign, doing well with the rotation into utes);
Adding slowly to MAVRX, Asia value equity; sold MINDX (India) too soon;
Substantially reduced large positions in the AQR equity long-short/mkt neutral fraternal twins;
Bought a tiny bit of PASDX - the stopped-clock "tactical" fund that's been in its one sweet spot recently;
Winnowed down cef's to Pimco multisectors only; and
Continuing to add to HY munis (PHMIX, MMHAX) - may stop now to see what happens next.

The article mentions two global water funds, PHO and CGW, but fails to mention FIW, which has clocked the former two ETFs. It is not a global fund, but I don't think you need such a fund to profit from world-wide water needs. Domestic companies in the sector should be positively affected by world-wide need. The stocks mentioned by Mr. Tan have done fine recently, but Itron (ITRN) has a more sobering long-term record. I also have GLFOX, Global Infrastructure, which holds some foreign companies related to the water theme.
I wish I been the person who realized bottled water would become a commodity. When I was young the only people a thing who drank such a thing were Existentialists in cafés.

I had serious interest in the offering from before and after inception; however, my enthusiasm has since cooled : I don't see much, if any, inflation pass-through benefit from infrastructure bonds as opposed to owning infrastructure stocks directly or a fund like GLFOX (which I don't own but which does buy infrastructure companies directly and not those which only invest) in them. See the difference?)
OTOH, I do own MIC, which itself is not an infrastructure stock but has the TR I'm seeking and is a suitable infrastructure proxy with its portfolio of assets IMO.

I wonder if you guys could give some advice about this preliminary portfolio. I'm trying to draw one up for retirement.....it's still some time off......but I could use some more perspective and ideas on this. I would like to keep the number of funds down to a dozen or less, if I could:
VWINX - 40%
GLRBX - 20%
PONDX - 5%
DLTNX - 5%
FUSVX - 10%
PRBLX - 5%
FSCRX - 5%
GLFOX - 5%
FMIJX - 5%
What would you change? Funds? Percentages? Or both???
God bless
the Pudd

I endorse suggestions re: DSENX and GLFOX.

Take a look at the world infrastructure fund GLFOX with 7.8% yield. With negative interest rate around the world high yielding stocks can be attractive not only in the US.
http://www.morningstar.com/funds/XNAS/GLFOX/quote.html

My fund selection logic includes --
Do I need it? Why?
Does it invest in sectors / companies I believe in and/or are opportune times to do so? Or are they just following the herd and buying the hottest things and latest fads?
Are their sector/subsector weightings, whatever they are, appropriate in my view of things? (IE, I an grossly underweight financials & consumer discresionary -- among others -- and would not consider any fund with a sizable weighting in them. Nor would I want a health care fund that's 60% invested in biotech. etc.)
How much turnover takes place? I look for 20% or less turnover where possible.
Are the fees viable? Under 1% ER for active funds, and absolutely no load or 12(b)-1 fees.[1]
How were the managers positioned going into periods of major market turbulence? IE, 2008 recession or the various taper tantrums? How much they lost vs competitors during bad times is a good indicator of my abiity to be comfortable trusting them with some of my money.
Do I see any concerns or conflicts of interest with the fund, its benchmarking, or the fund company?
Do I feel this is a viable long-term holding? (I don't trade mutual funds.)
That's for starters..
[1] I have one exception, becaue it's a good fund - GLFOX has a 12(b)-1 fee and is slightly more expensive than I'd like, but it is in-line with other actively managed global funds.

Hey, thanks openice and heezsafe, good info. I hope the fund does mirror the separate account strategy. It might fit pretty well w/ a position in GLFOX. --- Best, AJ