Sold out of my position in June for the above reasons. Too much risk for the payout. Purchased my state muni bond fund which pays a distribution rate of 2.83% at my tax level with a duration of 5 years. Sleep much better now.

I was a shareholder of more than one Bridgeway fund, including BRUSX, but performance has really disappointed. It has been a M* bottom quartile fund for 6 of the past 10 years and for BRAGX, it's 5 out of 10 years as a caboose. While they may have some value funds, BRUSX, BRAGX, and the former Micro Cap fund are/were all growth vehicles. Bridgeway checks a lot of boxes I like; they are small, shareholder friendly, quite transparent, and they do a lot for charity. Unfortunately, their numbers don't make the grade.

https://www.sec.gov/Archives/edgar/data/856119/000085611919000019/fvitp10719.htm
497 1 fvitp10719.htm FVIT P1 07/19
FVIT P1 07/19
SUPPLEMENT DATED JULY 19, 2019
TO THE PROSPECTUS DATED MARCH 1, 2019
OF FRANKLIN VALUE INVESTORS TRUST
(Franklin MicroCap Value Fund)
Effective July 19, 2019, the prospectus is amended as follows:
I. The following replaces the first paragraph of the “Fund Summaries – Franklin MicroCap Value Fund” section of the prospectus:
Effective on or about September 19, 2019 (the “Re-Opening Date”), the Fund will re-open to new investors. Through the date before the Re-Opening Date, the Fund is closed to new investors, except certain Funds of Funds of Franklin Fund Allocator Series and new participants in employer sponsored retirement plans invested in the Fund as of February 19, 2013. The Franklin MicroCap Value Fund reserves the right to modify this policy at any time. For more information, please turn to "Fund Details - Franklin MicroCap Value Fund" beginning on page 26 of this Prospectus.
II. The following replaces the “Portfolio Manager” section in the “Fund Summaries – Franklin MicroCap Value Fund” section of the prospectus:
Portfolio Managers
Bruce C. Baughman, CPA
Portfolio Manager of Franklin Mutual and portfolio manager of the Fund since inception (1995).
Oliver Wong, CFA
Portfolio Manager of Franklin Mutual and portfolio manager of the Fund since July 2019.
Bruce C. Baughman will be retiring on December 31, 2019. Effective December 31, 2019, it is anticipated that he will no longer be a portfolio manager of the Franklin MicroCap Value Fund, and Mr. Oliver Wong will become the sole portfolio manager.
III. The following replaces the first paragraph in the “Fund Details – Franklin MicroCap Value Fund” section of the prospectus:
Effective on or about September 19, 2019 (the “Re-Opening Date”), the Franklin MicroCap Value Fund (MicroCap Value Fund) will re-open to new investors. Through the date before the Re-Opening Date, the MicroCap Value Fund is closed to all new investors, except certain Funds of Funds of Franklin Fund Allocator Series. If you are an existing investor in the MicroCap Value Fund, you can continue to invest through exchanges and additional purchases, including purchases made through reinvestment of dividends or capital gains distributions. Employer sponsored retirement plans invested in the MicroCap Value Fund as of February 19, 2013 may open new accounts in the MicroCap Value Fund and invest on behalf of new participants in those retirement plans. Re-registration of accounts held by existing investors, if required for legal transfer or administrative reasons, will be allowed. The MicroCap Value Fund reserves the right to modify this policy at any time.
IV. The following replaces the ““Fund Details – Management – Bruce C. Baughman” section of the prospectus:
Bruce C. Baughman, CPA Portfolio Manager of Franklin Mutual
1
Mr. Baughman has been a lead portfolio manager of the MicroCap Value Fund since inception. He joined Franklin Templeton Investments in 1988.
Oliver Wong, CFA Portfolio Manager of Franklin Mutual
Mr. Wong has been a lead portfolio manager of the MicroCap Value Fund since July 2019. He joined Franklin Templeton Investments in 2012.
V. The following replaces the “Fund Details – Management – MicroCap Value Fund” section of the prospectus:
MicroCap Value Fund
Bruce C. Baughman and Oliver Wong. As co-lead portfolio managers, Messrs. Baughman and Wong are jointly and primarily responsible for the investments of the Fund. They have equal authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which each portfolio manager may perform these functions, and the nature of these functions, may change from time to time.
Bruce C. Baughman will be retiring on December 31, 2019. Effective December 31, 2019, it is anticipated that he will no longer be a portfolio manager of the Franklin MicroCap Value Fund, and Mr. Oliver Wong will become the sole portfolio manager.
Please keep this supplement with your prospectus for future reference.
2

FWIW
Article summery:
suggested investments, Emerging Markets on the equity side and corporate and mortgage backed securities for fixed income.
Trends for investors in the second half of the year:
Fed policy will be dovish.
GDP growth is slowing.
The S&P 500 is hitting all-time highs.
Value stocks may outperform.
Emerging markets will make a comeback.
The deficit will rise.
U.S. Treasurys will lag.

Oh really? I haven't look at it in a while. That's good to know -- thanks!

BRLIX is equally weighted only through the end of this month. As the prospectus now says: "This 'roughly equally weighted' Index contrasts with most other 'market-cap weighted' indexes, which give more weight to the stocks that have appreciated the most in price."
After July, equal weighting will be just a starting point. The supplement states: "Each stock is roughly equally weighted in the Fund and additional weight is periodically given to the stocks with the greatest decline in price."
This goes beyond adding shares for companies that have declined in price (to equalize the weight); it may overweight "undervalued" companies.
BTW, the high ER for BRUSX comes from the 0.85% cost of "acquired funds". I don't see any funds that it holds, but I didn't look carefully for business development companies.

BRLIX is equally weighted only through the end of this month. As the prospectus now says: "This 'roughly equally weighted' Index contrasts with most other 'market-cap weighted' indexes, which give more weight to the stocks that have appreciated the most in price."
After July, equal weighting will be just a starting point. The supplement states: "Each stock is roughly equally weighted in the Fund and additional weight is periodically given to the stocks with the greatest decline in price."
This goes beyond adding shares for companies that have declined in price (to equalize the weight); it may overweight "undervalued" companies.
BTW, the high ER for BRUSX comes from the 0.85% cost of "acquired funds". I don't see any funds that it holds, but I didn't look carefully for business development companies.

You may want consider doing a partial exchange, keeping a foothold in the fund while exchanging monies into a better performing Bridgeway fund such as the Blue Chip Fund or the like since it is in a non-taxable account.

If I wanted broad megacap exposure I would go with BRLIX in a heartbeat. A .15 ER, equal weighted, you get all the 'meat' and none of the 'filler' in my view. :)

Updated: N-14 filing:
https://www.sec.gov/Archives/edgar/data/1040612/000104061219000072/broadviewmadisonformn-14pe.htm
Incidentally, investors with Broadview Opportunity Fund, once converted can:
Comparison of Purchase and Redemption Procedures. The Acquired Fund has a minimum initial investment of $1,000 for all accounts and subsequent investments may be made with a minimum investment amount of $100 ($50 if purchases through the Automatic Investment Plan). The Class Y shares of the Acquiring Fund have a minimum initial investment of $25,000 for shares purchased directly from the Acquiring Fund. Class Y shares are also available for purchase by the following investors at a reduced minimum initial investment amount of $1,000 for non-retirement accounts and $500 for retirement accounts:
•Dealers and financial intermediates that have entered into arrangements with the Acquiring Fund’s distributor to accept orders on behalf of their clients.
•The fund-of-funds and managed account programs managed by Madison.
•Investment advisory clients of Madison and its affiliates.
•Members of the Board of Trustees of Madison Funds and any other board of trustees affiliated with Madison.
•Individuals and their immediate family members who are employees, directors or officers of the adviser, any subadviser, or any service provider of Madison Funds.
•Any investor, including their immediate family members, who owned Class Y shares of any Madison Mosaic Fund as of April 19, 2013.
•Any investor, including their immediate family members, who owned shares of the Acquired Fund as of the Effective Date.
The minimum subsequent investment for the Class Y shares of the Acquiring Fund is $50 for all purchases.

https://www.sec.gov/Archives/edgar/data/825063/000082506319000015/msp30719.htm
MS P3 07/19
SUPPLEMENT DATED JULY 18, 2019
TO THE PROSPECTUS DATED MAY 1, 2019
OF
FRANKLIN MUTUAL INTERNATIONAL FUND
(a series of Franklin Mutual Series Funds)
The Board of Trustees of Franklin Mutual Series Funds recently approved a proposal to reorganize the Franklin Mutual International Fund (the “Fund”) with and into the Franklin Mutual Global Discovery Fund, each a series of Franklin Mutual Series Funds.
It is anticipated that in the third quarter of 2019, shareholders of the Fund will receive a proxy card and a Prospectus/Proxy Statement requesting their votes on the reorganization. If approved by the Fund’s shareholders, the transaction is currently expected to be completed on or about February 21, 2020, but may be delayed if unforeseen circumstances arise.
Effective at the close of market (1:00 p.m. Pacific time or close of the New York Stock Exchange, whichever is earlier) on August 27, 2019, the Fund will be closed to all new investors except as noted below. Existing investors who had an open and funded account on August 27, 2019 can continue to invest in the Fund through exchanges and additional purchases after such date. The following categories of investors may continue to open new accounts in the Fund after the close of market on August 27, 2019: (1) clients of discretionary investment allocation programs where such programs had investments in the Fund prior to the close of market on August 27, 2019; and (2) Employer Sponsored Retirement Plans or benefit plans and their participants where the Fund was available to participants prior to the close of market on August 27, 2019. The Fund will not accept any additional purchases or exchanges after the close of market on or about February 19, 2020. The Fund reserves the right to change this policy at any time.
Please keep this supplement with your prospectus for future reference.

FYI: You’d think in the world of environmental, social and governance (ESG) index investing, the giant of social media—Facebook—would be a natural fit. But that’s not the case.
The $550 billion social media giant doesn’t impact the “environment” in any way near the way a fossil fuel company like Chevron does. Facebook is similar to other tech giants like Microsoft, Apple and Google. There are no belching smoke stacks in the tech world. These companies, which include Facebook, typically rank well when it comes to their environmental-friendly footprint.
Regards,
Ted
https://www.etf.com/sections/blog/facebook-faces-esg-index-music?nopaging=1

I can't read this article because it's behind a paywall but somebody might be interested I hope. I did read it at Fidelity through my accounts there.
The stock rather than their bonds

.. Has not change much
Still holding eem
No bonds
25s% eem distribution in 401k

Right... Yes sir @_MJG
went up >15s% since the last market semi-correction/small soft landing 'crash' after new yr

@MFO Members: The "Quality and Quantity" had over 650 views since this morning . How many for OJ today, 0000000000000000000000000000000000 !!!
Regards,
Ted

@MFO Members: Glad to see that Carl is on the same page as the Linkster! Got my semi-annual interest payment on HTZ 7.375% 1/15/21 Monday.
Regards,
Ted

To get a higher yield or simply higher total return. I don't there is much point in purchasing a fund with 10 year duration that yield under 3.5%

”Other than IOFIX, my positions and opinions can change quickly based on market action. I may sell two of my holdings today. I guess that is why I get so many warning and ban notices from some fund companies because of my trading activities.”

Love it! Thanks for sharing @Junkster.
You remind us that bond investing can resemble anything from driving a Studebaker ...


To driving a Ferrari!

All depends.

".... If anyone missed the first half rally in bonds I would be concerned about suddenly chasing performance now."
That makes perfect sense.
@MikeW my global bond fund is PRSNX , yes, it's with TRP. Up +7.05% ytd. Can't complain. But that puts it into the middle of the pack, at 45th percentile. Morningstar claims to have improved their website. That's hogwash. Four mouse-clicks now to get what I used to find with just one. Anyhow, my numbers here are from Morningstar. And Morningstar has lately changed the category where PRSNX belongs. Now, they've lumped it with World Bonds, but "US dollar hedged." Last month's dividend was down quite a bit...
My other bond fund is PTIAX. I'm quite happy there, too. Ytd, up +5.47%. June's monthly dividend jumped to 9 cents/share. PRSNX is 49.77% of my total. PTIAX is growing a tiny bit every month, with small automatic deposits, and I'm still reinvesting everything. Today, it represents 4.72% of my portfolio--- if you include my wife's 403b---still not quite $10,000.00 in there, yet.

Hey guys,
This is another somewhat strange question. But is there a resource that shows total fund into equity funds by year? Also, what about by category or asset class?
Here's what I'm trying to look at. What do the total fund equity flows (either positive or negative) look like year by year? I'd like to see the past few years fund flows vs let's say the late 90s or 2005-2007 and compare them to today.
For the other one, I'd like to see a ratio of money going into growth vs value funds (it would be interesting to compare the late 90s vs today) and also international vs domestic funds.
I've seen charts before but not sure how to get one that's up to date. Thanks!

Interesting short read. I turn 70 in a few months. Based on my current health status and the life spans of my parents and grandparents, I currently have my investment time horizon set at 21 years. I would be 90 years old at that point. Its been set at 90 since 2014 when I added an annual review of my planning horizon to my annual year-end portfolio review process. So, the chart makes sense to me.

Your investment time horizon seems reasonable. I say that because most everyone seems to overestimate how long they will live and think they will all live to 100. Longevity tables show those around our age ( I am 72) should live to 84/85. My high school and college classmates are dying off at an alarming rate. I am not sure in the U.S. lifespans are still expanding since obesity and being overweight has become so rampant over the past many years. Anyway, I never think about how many years I have left. Just try to live each day as if it is my last and spend some time each day on the trails, preferably in the middle of nowhere.