The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Advisors Weigh In on Fund Laggards Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, August 8, 2011

Advisors Weigh In on Fund Laggards

News summary by MFWire's editors

It's no surprise that brand-name fund shops such as Fairholme Funds [see profile] have had difficulties with their performances in the current choppy market, but their investors are sticking by them through thick and thin -- albeit cautiously, the Wall Street Journal reports.

For example: Fairholme, through July, reportedly has a minus 12.6 percent return and ranks in the bottom two percent; the Keeley Small Cap Value fund [see profile] has averaged minus 2.5 percent a year for the last three years; CGM Focus [see profile] has averaged a minus 13.5 percent for the last three years; and Hussman Strategic Growth's [see profile] performance has lagged since 2009, including last year's minus 3.6 percent return.

But advisors such as Harvey Rowen, chief executive at Starmont Asset Management LLC, in San Ramon, California, are not deterred. Starmont told the pub that he will keep some client money in the fund "to play the long-term prospect of a meaningful return."

And San Francisco-based Malcolm Gissen early last year reportedly pulled "a couple million" dollars of client money out of the CGM fund, because of lackluster returns. But Gissen told the pub: "Don't abandon a good fund just because it has had a bad year. You have to give managers an opportunity to perform.'' 

Edited by: Hung Tran

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use