Category Archives: Stars in the shadows

Small funds of exceptional merit

Vanguard STAR (VGSTX), August 2015

Objective and strategy This fund of funds seeks to provide long-term capital appreciation and income. As a fund of funds, Vanguard STAR invests in other Vanguard mutual funds.  It places 60% to 70% of its assets in common stocks through eight stock funds; 20% to 30% of its assets in bonds through two bond funds; […]

TIAA-CREF Lifestyle Conservative (TSCLX), August 2015

Objective and strategy The fund seeks long-term total return, consisting of both current income and capital appreciation. It is a “fund of funds” that invests in the low-cost Institutional Class shares of other TIAA-CREF funds. It is designed for investors targeting a conservative risk-return profile. In general, 40% of the fund’s assets are invested in […]

James Balanced Golden Rainbow Fund (GLRBX/GLRIX), August 2015

Objective and Strategy The James Balanced Golden Rainbow Fund (GLRBX/GLRIX) seeks to provide total return through a combination of growth and income and preservation of capital in declining markets. Under normal circumstances, the diversified James Balanced Golden Rainbow Fund invests primarily in undervalued domestic equities of companies with various market capitalizations and in high-quality (S&P’s […]

JOHCM International Select Fund (JOHAX/JOHIX), June 2015

Objective and strategy The fund seeks long-term capital appreciation by investing in a compact portfolio of developed and developing markets stocks. The strategy combines fundamental analysis of individual equities with a top-down overlay which shapes country and sector weights. At the level of individual securities, the managers use a growth-at-a-reasonable-price; they characterize it as “a […]

Towle Deep Value Fund (TDVFX), May 2015

Objective and strategy The fund pursues long-term capital appreciation. They look to invest in a compact portfolio of 30-50 undervalued stocks. The fund is nominally all-cap but the managers have traditionally had the greatest success in identifying and investing in small cap stocks. The fund looks for “well-seasoned companies with strong market positions, identifiable catalysts […]

Seafarer Overseas Growth & Income (SFGIX/SIGIX), May 2015

This fund profile was previously updated on March 1, 2013. You can find an archive of that profile here. Download a .pdf of this profile here. Objective and Strategy Seafarer seeks to provide long-term capital appreciation along with some current income; it also seeks to mitigate volatility. The portfolio has two distinctive features. First, the […]

Queens Road Small Cap Value (QRSVX), April 2015

Objective and strategy The fund pursues long-term capital growth by investing, primarily, in a diversified portfolio of US small cap stocks. The advisor defines small cap in relation to the Russell 2000 Value Index; currently that means stocks with capitalizations under $3.3 billion. The portfolio is assembled by looking at stocks with low P/E and […]

Northern Global Tactical Asset Allocation (BBALX), March 2015

Objective The fund seeks a combination of growth and income. Northern Trust’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 […]

Pinnacle Value (PVFIX), March 2015

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 investments. It also buys convertible […]

Osterweis Strategic Investment (OSTVX)      

Objective and strategy The fund pursues the reassuring objective of long-term total returns and capital preservation. The plan is to shift allocation between equity and debt based on management’s judgment of the asset class which offers the best risk-return balance. Equity can range from 25 – 75% of the portfolio, likewise debt. Both equity and […]