Category Archives: Stars in the shadows

Small funds of exceptional merit

Matthews Asia Strategic Income (MAINX), September 2014

We’ve published several profiles of MAINX.  for background, our february 2013 profile is here. Objective and Strategy MAINX seeks total return over the long term with an emphasis on income. The fund invests in income-producing securities including, but not limited to, debt and debt-related instruments issued by government, quasi-governmental and corporate bonds, dividend-paying stocks and […]

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Akre Focus (AKREX), September 2014

Objective The fund seeks long-term capital appreciation by investing, mostly, in US stocks of various sizes and in “other equity-like instruments.”  The manager looks for companies with good management teams (those with “a history of treating public shareholders like partners”), little reliance on debt markets and above-average returns on equity. Once they find such companies, […]

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Guinness Atkinson Global Innovators (IWIRX), August 2014

Objective and strategy The fund seeks long term capital growth through investing in what they deem to be 30 of the world’s most innovative companies. They take an eclectic approach to identifying global innovators. They read widely (for example Fast Company and MIT’s Technology Review, as well as reports from the Boston Consulting Group and […]

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RiverNorth/Oaktree High Income (RNOTX/RNHIX) – June 2014

Objective and strategy The fund tries to provide total return, rather than just income. The strategy is to divide the portfolio between two distinctive strategies. Oaktree Capital Management pursues a “barbell-shaped” strategy consisting of senior bank loans and high-yield debt. RiverNorth Capital Management pursues an opportunistic closed-end fund (CEF) strategy in which they buy income-producing […]

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Huber Equity Income (HULIX), April 2014

Objective and strategy The Fund is pursuing both current income and capital appreciation. They typically invest in 40 of the 1000 largest domestic large cap stocks. It normally invests in stocks with high cash dividends or payout yields relative to the market but can buy non-payers if they have growth potential unrecognized by the market […]

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Evermore Global Value (EVGBX), April 2014

  This is an update of our profile from April 2011.  The original profile is still available. Objective and Strategy Evermore Global Value Fund seeks capital appreciation by investing in a global portfolio of 30-40 securities. Their focus is on micro to mid-cap. They’re willing “to dabble” in larger cap names, but it’s not their […]

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Poplar Forest Partners Fund (PFPFX), April 2014

Objective and strategy The Fund seeks to deliver superior, risk-adjusted returns over full market cycles by investing primarily in a compact portfolio of domestic mid- to large-cap stocks. They invest in between 25-35 stocks. They’re fundamental investors who assess the quality of the underlying business and then its valuation. Factors they consider in that assessment […]

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Walthausen Select Value (WSVRX), April 2014

  This is an update of our profile from September 2011.  The original profile is still available. Objective The Fund pursues long-term capital appreciation by investing primarily in common stocks of small and mid-cap companies, those with market caps under $5 billion. The Fund typically invests in 40 to 50 companies. The manager reserves the […]

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RiverPark/Gargoyle Hedged Value (RGHVX), March 2014

Objective and strategy RiverPark/Gargoyle Hedged Value seeks long-term capital appreciation while exposing investors to less risk than broad stock market indices. The strategy is to hold a diversified portfolio mid- to large-cap value stocks, mostly domestic, and to hedge part of the stock market risk by selling a blend of index call options. In theory, […]

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Intrepid Income (ICMUX), March, 2014

Objective and strategy The fund is pursuing both high current income and capital appreciation. The fund primarily invests in shorter-term high-yield corporate bonds, bank debt, convertibles and U.S. government securities. They have the option of buying a wider array of income-producing securities, including investment-grade debt, dividend-paying common or preferred stock. It shifts between security types […]

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