Objective and Strategy 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 management and The stock selling for less than it’s worth. Generally it avoids small cap caps. It can invest in emerging markets, [...]
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 [...]
Objective and Strategy Tributary Balanced Fund seeks capital appreciation and current income. They allocate assets among the three major asset groups: common stocks, bonds and cash equivalents. Based on their assessment of market conditions, they will invest 25% to 75% of the portfolio in stocks and convertible securities, and at least 25% in bonds. The [...]
Objective The fund’s investment objective is capital appreciation, which they hope to obtain by investing primarily in undervalued small cap stocks. Small caps are defined as those comparable to those in the Russell 2000, whose largest stocks are about $3.3 billion. They can also invest up to 10% in foreign stocks, generally through ADRs. There’s [...]
Objective To provide shareholders with long-term capital appreciation in a well-diversified portfolio. They invest primarily in U.S. mid- to large caps, though the portfolio does offer some international exposure (about 10% in mid-2011) and some small company exposure (about 2%). On average, 80% of the portfolio is in the stock market while the rest is [...]
Objective and Strategy Tocqueville Select Fund pursues long-term capital appreciation by investing in a focused group of primarily small and mid-sized U.S. stocks. The portfolio, as of 9/30/11, is at the high end of its target of 12 to 25 stocks. The managers pursue a bottom-up value approach, with special delight in “special situations” (that [...]
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 The fund pursues long-term growth by investing in 30-50 undervalued global stocks. Generally it avoids small cap caps, but can invest up to 30% in emerging and less developed markets. The managers look for four characteristics in their investments: A high quality business With a strong balance sheet Shareholder-focused management Selling for less than [...]
Objective The fund pursues “maximum long-term capital growth” by investing a broadly diversified portfolio of small cap growth stocks. For their purposes, “small cap” means “under $2.5 billion in market cap at the time of purchase.” As of 9/30/11, they held 70 stocks. They cap individual positions at 3% of assets, though some might appreciate [...]
Fund name Pinnacle Value (PVFIX) Objective Pinnacle Value seeks long-term capital appreciation by investing in small- and micro-cap stocks that it believes trade at a discount to underlying earnings power or asset values. It might also invest in companies undergoing unpleasant corporate events (companies beginning a turnaround, spin-offs, reorganizations, broken IPOs) as well as illiquid [...]
