Category Archives: Stars in the shadows

Small funds of exceptional merit

Ariel Global (AGLOX), August 2016

Objective and strategy Ariel Global Fund’s fundamental objective is long-term capital appreciation. The manager pursues an all-cap global portfolio. The fund is, in general, currency hedged so that the returns you see are driven by stock selection rather than currency fluctuation. The manager pursues a “bottom up” discipline which starts by weeding out as much […]

Catalyst/MAP Global Total Return Income (TRXAX, TRXIX), August 2016

Objective and strategy The manager attempts to preserve capital while generating a combination of current income and moderate long-term capital gains. The portfolio has four sleeves: 40-65 global equity positions constituting 30-70% of the portfolio depending on market conditions. Over the past five years, the range has been 54-62%. Income-generating covered calls which might be […]

Aston/River Road Independent Value (ARIVX)

This fund was previously profiled in September 2012. You can find that profile here. Objective 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). […]

Centaur Total Return Fund (TILDX)

Objective The fund seeks “maximum total return” through a combination of capital appreciation and income. The fund invests in undervalued securities, mostly mid- to large-cap dividend paying stocks. The manager has the option of investing in REITs, master limited partnerships, royalty trusts, preferred shares, convertibles, bonds and cash. The manager invests in companies “that it […]

Intrepid Endurance (ICMAX), April 2016

Objective and strategy The fund pursues long-term capital appreciation by investing in high quality small cap equities, which they’ll only buy and hold when they’re undervalued. “Small stocks” are stocks comparable in size to those in common indexes like the Russell 2000; currently, that means a maximum cap of $6.5 billion. The fund can hold […]

Royce Global Financial Services (RYFSX), March 2016

Objective and strategy The fund seeks long-term capital appreciation by investing in micro-, small- and mid-cap financial services stocks with market caps up to $5 billion. The financial services industry includes banks, savings & loans, insurance, investment managers, brokers, and the folks who support them. The managers anticipate having 40% of the portfolio in non-U.S. […]

Leuthold Core Investment (LCORX), February 2016

Objective and strategy Leuthold Core pursues capital appreciation and income through the use of tactical asset allocation. Their objective is to avoid significant loss of capital and deliver positive absolute returns while assuming lower risk exposure and lower relative volatility than the S&P 500. Assets are allocated among stocks and ADRs, corporate and government bonds, […]

Fidelity Total Emerging Markets (FTEMX), December 2015

Objective and strategy FTEMX seeks income and capital growth by investing in both emerging markets equities and emerging markets debt. White their neutral weighting is 60/40 between stocks/bonds, the managers adjust the balance between equity and debt based on which universe is most attractively positioned. In practice, that has ranged between 55% – 75% in […]

RiverNorth Core Opportunity (RNCOX/RNCIX), November 2015

THIS IS AN UPDATE OF THE FUND PROFILE ORIGINALLY PUBLISHED IN June 2011. YOU CAN FIND THAT ORIGINAL PROFILE HERE. Objective and strategy The fund seeks long-term capital appreciation and income, while trying to maintain a sense of “prudent investment risk over the long-term.” RNCOX is a “balanced” fund with several twists. First, it adjusts […]