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Unheard of/Newish US Growth Fund W/Impressive Record
Yes, has only been around for a few years, but fairly impressive record. However, the manager appears to have a successful record managing a number of Canadian-offered funds for years prior to this one opening.
Highly concentrated bets (20 positions as of last M* report) and a "Heebner-esque" turnover rate over 350%. Up 22% YTD.
Definitely a higher risk fund in terms of the kind of companies, highly concentrated bets and timing ("This portfolio employs an active trading strategy designed to capture added value as these stocks fluctuate through their individual cycles of growth and earnings period announcements"), but it has done well and the manager has a successful record in Canada.
Top 5 stocks at or close to 52 week highs and total 33% of holdings. 3 year old fund that started after 2008. Reminds me of White Oak fund in early 2000's. Not for me.
Reply to @Maurice: Certainly not saying that anyone should run out today and invest and definitely noted that it would be a very aggressive, high-risk holding. Just noting a rather strong (and completely unheard of) performer over the last 3 yrs that, Heebner-like, appears to move in/out of holdings quickly - the 3/31 holdings appear noticeably different than 1/31, etc. Additionally, as noted in the link above, the manager has run what appears to be a very similar fund in Canada since '98 with a reasonable degree of success.
Reply to @randynevin: Happy to help. I have not invested in it, but it is NTF/no min at Ameritrade. It would be for someone looking for a very aggressive, high turnover growth fund. It's not CGM Focus (although CGM Focus has not been CGM Focus for a few years), but the approach seems quite similar. Same manager's Canadian-offered US growth fund (which is not exactly the same, but appears very similar) is linked above.
Scott, is it definitley no minimum at TDA? Their website says minimum of $10,000, but I know sometimes their website is wrong. One thing I noticed in the prospectus is that it states it may have a particular focus on the informtation technology sector, which would have a magnified affect on the fund's performance.
Reply to @Chinfist: It's $10k under the information on the fund page. When you go to purchase, it's 0/NTF. Almost all the funds from that company (some of which are Canadian-focused) are (all are no min, some are not NTF.)
The fund is indeed impressive, but I believe that performance of his Canadian counterpart was uneven. Some funds of this company are going to be liquidated soon:
Reply to @mrc70: Yep, very well aware of the date of the thread. Was reminded of this thread by the post linked below about other funds from the company liquidating.
Can't find SAI on website. So can't verify manager investment. Pass.
You like Dundee, watch Crocodile Dundee, drink J.W. Dundee Honey Lager. Best kind of Done Deal. I mean Dun Dee. I mean it is Friday and I'm on my 2nd, so kindly laugh.
From the SAI (for a variety of Dynamic family (Dundee Wealth) funds, including US Growth):
"The portfolio managers [of any of the funds covered by the SAI] did not beneficially own any securities of the Funds as of September 30, 2012 or as of December 31, 2012 in the case of Mr. Simpson."
Bought this fund in early 2010 and sold it when it peaked out in 2011. It made me lots of money. Since then it has been going sideway until recently it is doing a little bit better. As a concentrated fund, it will hit and miss. One year record is not impressive at 15%, 3 year 22 % due to impressive result in early phase of the fund. The peak in 2013 is not much more than the one in 2011. Those bought at the peak in 2011 has been crying for 2 years .Overall, not going back to this fund.
Comments
Regards,
Ted
If the fund is into Tech as earlier mentioned, that would be the reason as Nasdaq is holding up well relatively in this downturn.
http://www.mutualfundobserver.com/discussions-3/#/discussion/7597/dundeewealth-funds-to-liquidate-funds
You like Dundee, watch Crocodile Dundee, drink J.W. Dundee Honey Lager. Best kind of Done Deal. I mean Dun Dee. I mean it is Friday and I'm on my 2nd, so kindly laugh.
That's why we have M*. See the filings tab.
http://quicktake.morningstar.com/FundNet/SecFiling.aspx?Symbol=DWUGX&Country=USA
From the SAI (for a variety of Dynamic family (Dundee Wealth) funds, including US Growth):
"The portfolio managers [of any of the funds covered by the SAI] did not beneficially own any securities of the Funds as of September 30, 2012 or as of December 31, 2012 in the case of Mr. Simpson."
BWG
http://www.sec.gov/cgi-bin/browse-edgar?CIK=0001365151&action=getcompany