This is an update of the fund profile originally published in 2008, and updated in May 2012. You can find that profile here. Objective The fund pursues long-term growth by investing in 30-50 undervalued global stocks. The managers look for four characteristics in their investments: A high quality business A strong balance sheet Shareholder-focused [...]
Objective and Strategy Payden Global Low Duration Fund seeks a high level of total return, consistent with preservation of capital, by investing in a wide variety of debt instruments and income-producing securities. Those include domestic and international sovereign and corporate debt, municipal bonds, mortgage- and asset-backed debt securities, convertible bonds and preferred stock. The maximum [...]
Objective and Strategy To provide high current return with less short-term risk than the stock market, the Fund buys and sells a combination of stocks, options, futures, and fixed-income securities. Up to 75% of the portfolio may be in stocks and options. They may short up to 35% via index futures. At least 25% must [...]
Objective and Strategy Stewart Capital Mid Cap Fund seeks long-term capital appreciation. It invests, primarily, in domestic midcap stocks. While it is technically a “diversified” fund, the managers warn that they prefer to invest in “a relatively small number of intensively researched companies.” They operationalize “relatively small” as 30-60. They target firms that don’t need [...]
Objective The fund seeks a combination of growth and income. Northern’s Investment Policy Committee develops tactical asset allocation recommendations based on economic factors such as GDP and inflation; fixed-income market factors such as sovereign yields, credit spreads and currency trends; and stock market factors such as domestic and foreign earnings growth and valuations. The managers execute [...]
Objective and strategy The fund seeks to provide long-term total return by investing in common and preferred stocks, convertibles and REITs. The manager attempts to invest in high quality, small- to mid-cap firms (those with market caps between $100 million and $5 billion). He thinks of himself as having an “absolute return” mandate, which means [...]
Objective The fund pursues capital appreciation by investing in a changing array of asset classes. They use a macroeconomic strategy focused on broad trends and execute the strategy by purchasing baskets of securities, often through ETFs. They can have 50% of the portfolio invested in short sales, 50% in various forms of derivatives, 50% international, [...]
Objective and Strategy The fund seeks long-term capital appreciation by investing in common stocks of U.S. small cap companies. Small caps are those in the range found in the Russell 2000 Value index, roughly $36 million – $3.0 billion. The manager looks for undervalued companies based, in part, on his assessment of the firm’s replacement [...]
Objective The fund’s investment objective is capital appreciation which it pursues by maintaining long and short equity positions. It typically invests in domestic stocks (92% as of the last portfolio) and typically targets stocks with market caps of at least $100 million. The managers look at both industry and individual stock prospects when determining whether [...]
Objective The fund seeks current income and long-term capital appreciation. The managers invest in a combination of blue chip stocks, investment grade intermediate-term bonds, convertible securities and cash. In general, at least 25% of the portfolio will be bonds. In practice, the fund is generally 70% equities, though it dropped to 60% in 2008. The [...]
