Time to Bail out of Perkins Midcap Value (JMCVX) JMCVX is a conservative (M* rates it low risk), broadly diversified (almost 100 securities) fund that sits on the value/blend border (oscillating from year to year), tending toward large cap. It is not focused on midcap value, it just averages out that way.
How much of this is important to you in seeking a replacement? FSMVX matches most attributes - its portfolio leans a bit more toward large cap, and a bit more toward value, but both in minor ways. More significant is that its risk is rated average - still not a very risky fund.
VASVX is also slightly more value oriented, though with an average market cap matching JMCVX. M* rates its risk as below average - not quite as low as JMCVX, but in the "next" ballpark. Mona is correct that Vanguard recently added Penza Investment Management recently, but Donald G. Smith and Richard L Greenberg (of Donald Smith & Co.) came on board a decade ago, just three years after Mark Giambrone.
If you want to get a sense of how Barrow/Giambrone work with Penza and his team, you might look at American Beacon Mid Cap Value (AMPAX). From the fund inception until 2014, these two teams were responsible for the day-to-day management of that fund. ISTM that this is a respectable, though not awe inspiring fund - good risk/return, similar attributes to JMCVX, average risk and a bit pricy (compared with the other funds mentioned). Not a fund I'd look at to purchase, but one to see how these teams work together in a co-managed fund.
HIMVX isn't as close a match as the other funds. Its risk is higher (above average per M*) which IMHO goes along with a deep value leaning (vs. sitting on the value/blend line as do the other funds). On the other hand, it has somewhat more securities in its portfolio (about 175). Overall, it gives a bit greater variety in company cap sizes, and a bit less along the value/growth axis. While it has done well in the past few years (with markets soaring), its ten year record is almost identical to AMPAX - and management has been pretty stable for both funds over that period of time (making the comparison valid). Another indicator that the fund is more risky/volatile than the others - better in good times, worse in bad ones.
All of this gets me back to the question - what are you looking for in a replacement? If you're looking for a fund that spans a broad swath of companies, then a fund narrowly focused on mid cap value, whether active or index like VOE/VMVAX isn't going to do it.
Are you willing to look outside of Fidelity, or are you at least open to the idea of doing a move all at once (to facilitate purchasing TF funds at Fidelity)? In that case, you might also consider DHMIX (TF at Fidelity, more compact portfolio, leaning more toward small cap), or VETAX (NTF at Schwab, and a somewhat more focused market cap range, though not nearly as narrow as VOE/VMVAX).
Or if all you're looking for is a better fund, nominally labeled MCV, you might even look at FLPSX. A bit of a contrarian play in the sense that the fund is nearly a world fund, and the US market has been doing much better over the past few years.
Mark Hulbert: Investing Guru Predicts 12% Rise In Stocks Over Six months Someone is going to have to do more than "Research Work" for 63 years to claim Guru Status with me, But everyone has the privilege to pick their "Gurus":
His previous six-month forecast, for example, was that the S&P 500 by the end of March (this past Tuesday) would be between 2,160 and 2,200 — representing an increase of at least 9.5% over where it stood at the end of last year’s third quarter. As fate would have it, the S&P 500 rose “only” 4.8% over that six-month period.
not my kinda of Guru....tb
Mark Hulbert: Investing Guru Predicts 12% Rise In Stocks Over Six months Indeed, guru designation is often placed upon those who just happen to get it right more often than wrong. Guru's come and guru's go.
However if you had bothered to read the article you would have learned that Mr. Eisenstadt is the former research director at Value Line Inc. with 63 years at that firm. I'd say that he might have earned the street credit's to be listened to over Timmy boy who offers nothing other than he's a blog writer with no credentials he cares to mention.
Mark Hulbert: Investing Guru Predicts 12% Rise In Stocks Over Six months FYI: This aging bull market should be given the benefit of the doubt for at least another several months.
That cheery forecast comes from Sam Eisenstadt, who has more successfully called stocks’ direction in recent
years than anyone I can think of. His latest forecast is that the S&P 500 SPX, +0.35% will rise to 2,310 over the next six months. If so, the market at the end of September will be 11.8% higher than where it stands today.
Regards,
Ted
http://www.marketwatch.com/story/enjoy-the-party-while-it-lasts-2015-04-03/printMusic To My Ears: Play It Again Sam;
Interesting movement on ACDJX. @BenWP, Thanks for that tip. That is a interesting ETF and a new one at that. Can I imagine I am 25
years old again and buy that for the long haul?
@Junkster, Comparative pricing has been a thorn in patients sides. Selling a medication that costs relatively little to make at a high profit because it can save you the costs of surgery is kinda in the trickery dept. I do not bemoan the profits of any company but sometimes the reasons for the high prices are head scratching.
All Hail Jeffrey Gundlach, The New Bond King Thanks for the information. He clearly struck-out on THAT score. I'll stick with him, though. DLFNX is a small position. Today, I just added a tiny bit to it, too.
His funds have done well. Better than his predictions. Then again these markets of recent years have tripped up many experts. I hold DLFNX as well.
I'm also looking at DLFNX, as well as DoubleLine Total Return.
FWIW, you can get into the institutional share classes in an IRA at asset levels FAR below that required in a taxable account. IIRC, something like $5k, versus 100k......don't quote me on that
All Hail Jeffrey Gundlach, The New Bond King His funds have done well. Better than his predictions. Then again these markets of recent years have tripped up many experts. I hold DLFNX as well.
All Hail Jeffrey Gundlach, The New Bond King From the 2011 article:
By Jonathan R. Laing
Updated Feb. 21, 2011
Gundlach made a couple of very significant predictions in 2011:
http://online.barrons.com/articles/SB50001424052970204442204576144662301971254?tesla=yCelebrated bond-fund manager Jeffrey Gundlach has a healthy -- some might say overdeveloped -- ego.
"Look, I have a gift, or some would say a curse, of being able to have stunning insight into the reality of markets and the economy," Gundlach says.........But whether it's bond selection or asset allocation, we can do it better than just about anybody around."
"Though I rarely go public with specifics on stocks, I think the Standard & Poor's 500, which is now over 1300, will hit 500 in the next couple of years," he says.
"
He foresees a major collapse in the municipal-bond market, beyond the declines to date, given the parlous condition of both state and local government finances. He is preparing, he says, by having established a joint venture with the Chicago financial firm RiverNorth. Among other things, it expects to scoop up closed-end municipal-bond funds in the next year or so when the predicted apocalypse arrives, driving fund prices down, he says, to as little as 40% of net asset value. "
The new look Thank you all for the replies. No, it does NOT just happen at the MFO site. It happens at Facebook, typing an email message, too. The wireless router is upstairs. I'm downstairs, but almost right underneath the thing. It's a small home! I've tried to note whether it might be a time-of-day problem, too. But it apparently is NOT. Early or late doesn't matter. My mouse is a wired one. So there's no battery inside to wear out and die, like a wireless mouse... "Has this problem existed before?" (As per Catch22.) YES, in fact, it's been happening over months and years. At first, I just thought I was hitting the wrong key, or my fat fingers were getting in their own way. But it's been happening only at THIS address, connected to scummy, spooge-y COMCAST as our ISP. We bought this computer in western Pennsylvania. I never noticed the problem there. We took it to Jamaica. The problem did not happen THERE. I could try the other USB port. But it seems clear to me now: the faulty, worthless, disgusting ISP is to blame. Another reason to add to the list, for wanting to get out of New England. If you don't get internet from the phone company here, and particularly if you want to "bundle" phone and tv and internet, the greasy company known as Comcast is the only option in my city. We are captives. Have I mentioned that Comcast licks germs off dead rats in the street?
