Clickbait. Apparently the original headline read as John posted (up 35%). The text reads: "So far this year, RiverPark Long/Short Opportunity (ticker: RLSFX) is up 36.6%".
Online, Barron's had to change the headline: "This Stock Fund Has Soared More Than 30% This Year", and the actual figure as of the dateline (Sept. 17th) is 30.34%.
What's your interest in long/short? By definition they are leveraged funds (borrowing to sell short, using the cash to buy over 100% long). This fund (at least currently) is effectively a 130/30 fund.
At the same time, it's not hard to find large cap growth funds, mid cap growth funds, and global growth funds that have done better YTD without leveraging. Not to mention that the risk profiles of long and short positions differ: the amount you can lose with a long position is "just" 100%; your potential loss on short positions is unlimited.
This is not to say there isn't value in long/short funds. But what is the appeal of this fund beyond the headline figure? Even Wellington manages a fund (HGOYX) with a better YTD return.

Since inception 8.14 % (3/2012) 2% ER 5*****
Stay safe, Derf

https://www.barrons.com/articles/stock-fund-long-short-facebook-snap-pinterest-51600288123?mod=djem_b_Barrons Magazine Sept 21 issue
Incognito search
https://www.google.com/search?source=hp&ei=cQhmX4aYKYPAsAX286GQBQ&q=This+Stock+Fund+Has+Soared+More+Than+30%+This+Year.+Here’s+How.&oq=This+Stock+Fund+Has+Soared+More+Than+30%25+This+Year.+Here’s+How.&gs_lcp=ChFtb2JpbGUtZ3dzLXdpei1ocBADUPATWPATYI8caABwAHgAgAFWiAFWkgEBMZgBAKABAqABAbABAA&sclient=mobile-gws-wiz-hp
This Fund Is Up 35% in 2020. Here’s How.
RiverPark Long/Short Opportunity specializes in finding companies on the cusp of big change—for better or worse.
Anyone thought adding Riverpark long/short opportunity or put in ot on buy list? RLSFX
https://www.google.com/search?q=MUTF: RLSFX

Re RPSIX. Not a bad fund. Here’s some possible reasons it’s had a lackluster year:
12.3% invested in stock fund PRFDX, which follows a value investment approach (long out of favor) and has 21% invested in financial stocks which have struggled recently due to very low interest rates. PRFDX is off about 14.5% YTD.
16.5% invested in their high yield fund PRHYX, which is essentially flat YTD.
8% invested in their EM bond fund, PREMX, which is slightly negative YTD..
That makes well over one-third of its holdings either flat or underwater this year. Shouldn’t be any mystery than why it’s not keeping pace with most bond funds. The fund is not and does not pretend to be an investment grade bond fund. Considering the commitment to PRFDX, it’s hard to consider it a bond fund at all. In fairness, this has been an unusually good year for some sectors of the bond market - longer dated government and intermediate investment grade corporates for example. Don’t expect that outperformance to continue indefinitely.

Totally agree. Many college graduates have large college loan debt - often $50-100K. Finding jobs in this pandemic is not easy. Our companies hired a few this year but that is less than the attrition rates due to retirement and others.
Younger generations are very different than the older ones. Some don't invest because our company offers only low cost index funds, even with generous company match. Guess our priorities on investing are quite different.

https://www.artisanpartners.com/institutional-investors/news-insights/news/press-releases/2020/artisan-partners-announces-beini-zhou-and-anand-vasagiri-are-joining-the-firm.html
4 September 2020
Milwaukee, Wisconsin. Artisan Partners announced today the addition of Beini Zhou and Anand Vasagiri as portfolio managers on the Artisan Partners International Value Team. Mr. Zhou and Mr. Vasagiri will be co-portfolio managers of the forthcoming Artisan International Small Cap Value Strategy, which is expected to launch in October 2020.
The new strategy represents a natural extension for the International Value team as it leverages the International Value strategy’s existing investment philosophy and process. David Samra will serve in an advisory capacity to Mr. Zhou and Mr. Vasagiri for the new strategy.
Prior to joining Artisan, Mr. Zhou was at Matthews Asia, where he was a portfolio manager for the Asia Value and Emerging Markets Equity Funds and co-portfolio manager for the Asia Small Companies Fund. Before joining Matthews Asia, Mr. Zhou worked as a research analyst at Artisan Partners on the Global Value team from 2005 to 2013, at that time working with David Samra and Daniel O’Keefe.
Mr. Vasagiri was previously a co-portfolio manager of the Global Small/Mid Cap portfolio at Paradice Investment Management. Before joining Paradice, Mr. Vasagiri was also an analyst for the Artisan Global Value Team from 2007 to 2010.
Regarding Mr. Zhou’s and Mr. Vasagiri’s joining Artisan Partners, Mr. Samra said, “I’ve had the distinct pleasure of working with Beini and Anand in the past. Both were highly capable analysts who became well-versed in our team’s philosophy and approach to international value investing and were natural candidates to ask to rejoin the team. I’m very pleased this partnership has come to fruition.”
Artisan Partners CEO Eric Colson added, “As a firm, we aim to reinvest in our first-generation franchises by increasing their degrees of freedom in a variety of ways—whether by expanding their range of client offerings or adding talent who can help expand it—all while capitalizing on the teams’ inherent strengths. We are excited for the opportunity to build upon our first-generation International Value franchise with this next-generation strategy, capably helmed by Beini and Anand.”
https://www.artisanpartners.com/content/dam/documents/press-releases/sa/International-Value-Team-Announcement-4-Sep-2020-vXUS.pdf

Life imitates art imitating life: Years ago IBM had an IBM 9000 computer, made by its IBM Instruments division in Danbury, CT. ["HAL" is "IBM" with a one-letter shift.]

There is a book about the rise and fall of IBM Instruments.
I haven't read it but it seems interesting.
Link

Just a little related background info regarding his thinking about MMT...

Bridgewater Associates founder Ray Dalio says the coming of Modern Monetary Theory is “inevitable” to address wealth disparity in the U.S.

https://cnbc.com/2019/05/02/ray-dalio-says-the-coming-of-modern-monetary-theory-favored-by-far-left-is-inevitable.html

The U.S. is emerging as an early favorite in the all-out showdown to rekindle inflation in the world’s major economies.
With the Federal Reserve planning to hold interest rates near zero until at least 2023 and Congress working on another fiscal boost, a pocket of the debt market is starting to see consumer prices modestly over 2% in years to come. That’s in stark contrast to Europe where deflation fears have reawakened, and Japan, which has battled moribund price pressures for decades to no avail.

https://fa-mag.com/news/bond-market-shows-u-s--is-leading-in-race-to-reflate-the-economy-58014.html?section=3

American Funds:
https://www.capitalgroup.com/advisor/tax/2020-year-end-distributions.html?sfid=57263512&cid=80177900&et_cid=80177900&cgsrc=SFMC&alias=A-cpy-LP-1-information&Et_mid=10768262&l=31996630_HTML&u=766493210&jb=8
Amundi Pioneer
https://www.amundipioneer.com/us/Resources/Tax-Center
Blackrock/iShares
https://www.blackrock.com/us/financial-professionals/resources/tax-information/2020-distributions
State Street Global Advisors
https://www.ssga.com/us/en/intermediary/etfs/resources/documents/dividend-distributions

I think it has arrived in Europe...
https://vox.com/21435868/coronavirus-france-italy-spain-uk-europe
And the winter is around the corner where people are gathering indoor. With face covering and social distance, this may suppress the infection when everyone actually practice that at the same time. Also it is a good idea to get the flu vaccine now.

This is part of tech advancement. Cars are built today by robots on assembly lines. Still it requires human to programming and maintenance of the robots. Machine learning helps to speed up the iterative development process for manufacturing. I can see they would be helpful for dangerous jobs such as mining and space exploration.

@Sven - Thanks for keeping my post “legal“. The implications for manufacturing are enormous.
What I’m thinking though ..... Picture a U.S. combat Marine, maybe 25 years from now, encountering one of these variants on the battlefield. Musk, I hear, has some pretty automated cars. And, you can’t deny the brilliance of those picture-perfect booster landings (science fiction when I was a kid). Sure, he’s a bit of a “flake,” but I’d take his premonitions in this area seriously.

UBS Funds:
https://www.ubs.com/us/en/asset-management/individual-investors-and-financial-advisors/products/mutual-fund/_jcr_content/mainpar/toplevelgrid/col1/accordionbox_80358036/linklist_1706327151/link_640279067.0924260690.file/bGluay9wYXRoPS9jb250ZW50L2RhbS9hc3NldHMvYW0vdXMvdXMtZmluYW5jaWFsLWFkdmlzb3IvcHJvZHVjdHMvdWJzLW11dHVhbC1mdW5kcy9jYXAtZ2FpbnMucGRm/cap-gains.pdf
US Global Investors:
http://www.usfunds.com/media/files/pdfs/dividend-memos/2020-distribution-estimate-announcement.pdf
USAA Funds (see link below also):
https://content.usaa.com/mcontent/static_assets/Media/MutualFundDist_PreNotification.pdf?cacheid=2760459220_p
VanEck Funds:
https://www.vaneck.com/vaneck-funds-2020-yearend-dividends-distributions.pdf
Vanguard Funds (updated):
https://advisors.vanguard.com/iwe/pdf/taxcenter/FAFYEEST.pdf
https://investornews.vanguard/updated-distribution-estimates-for-vanguard-managed-payout-fund-2/ (managed allocation fund info)
Victory Funds (includes USAA under Victory Fund Forms and Information heading):
https://advisor.vcm.com/literature/mutual-fund-documents
Virtus Funds:
https://www.virtus.com/assets/files/2gs/virtus-mutual-funds-2020-year-end-preliminiary-capital-gains-distribution-estimates-08-31-2020.pdf
Voya Funds:
https://individuals.voya.com/document/product/2020-estimated-capital-gains.pdf
Vulcan Value Partners:
https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/2020-Distributions-Estimates-09.30.20.pdf
Walthausen Funds:
http://www.walthausenfunds.com/fund-documents/
Wasatch Global (updated):
https://wasatchglobal.com/mutual-funds-distributions/
WCM Funds:
https://www.wcminvestfunds.com/files/wcm-mutual-fund-capital-gains.pdf
Weitz Investments:
https://weitzinvestments.com/funds/distributions.fs
Wells Fargo Funds:
https://www.wellsfargoassetmanagement.com/assets/public/pdf/product-alerts/20201019-productalert.pdf
Westchester Capital Management (new; Merger Fund):
http://www.mergerfund.com/wp-content/uploads/pdf/2020-Capital-Gains-and-Ordinary-Income-Distributions.pdf
Westwood Funds:
https://westwoodgroup.com/wp-content/uploads/2020/11/Fund-Distribution-Est.-10.31.20.pdf
William Blair Funds:
(I and N classes)
https://www.williamblairfunds.com/resources/docs/funds/other/2020 Estimated Distributions Class I and N.pdf
(R6 class)
https://www.williamblairfunds.com/resources/docs/funds/other/2020 Estimated Distributions Class R6.pdf
WisdomTree ETFs:
https://www.wisdomtree.com/-/media/us-media-files/capital-gains-estimates-schedule/2020-us-preliminary-estimated-capital-gains-distributions.pdf
Yorktown Funds:
https://yorktownfunds.com/funds-performance/distributions/#2020-distribution
Zevenbergen Funds (new):
https://www.zci.com/wp-content/uploads/2020/12/Zevenbergen-Genea-Distributions-2020.pdf
https://www.zci.com/wp-content/uploads/2020/12/Zevenbergen-Growth-Distributions-2020.pdf

Queens Road Funds:
https://queensroadfunds.com/distributions/
Rice Hall James Funds:
https://rhjfunds.com/wp-content/uploads/2020/10/Cap-Gains-Estimate-2020.pdf
RiverNorth Funds:
https://www.rivernorth.com/rncix-rncox (Core Opportunity)
https://www.rivernorth.com/rnsix-rndlx (Doubleline Strategic)
https://www.rivernorth.com/rnhix-rnotx (OakTree High Income)
RiverPark Funds (updated):
http://www.riverparkfunds.com/Data/Sites/17/media/docs/news/Final_Cap_Gains_and_Estimated_Distribution_Information_2020.pdf
RMB Funds:
https://rmbfunds.com/wp-content/uploads/2020/11/RMB-Funds-Preliminary-Capital-Gains-Estimates-for-2020.pdf
Rondure Global Advisors:
https://www.rondureglobal.com/distributions
Royce Funds:
https://www.royceinvest.com/news/Distributions/open-end-funds-year-end-distributions-estimates
Russell Investments:
https://russellinvestments.com/Publications/US/Document/2020_Estimated_Cap_Gain_RIC_Funds.pdf
https://russellinvestments.com/Publications/US/Document/2020_Estimated_Cap_Gain_TM_Funds_S.pdf (tax managed class S)
https://russellinvestments.com/Publications/US/Document/2020_Estimated_Cap_Gain_TM_Funds_M.pdf (tax managed class M)
Saturna Capital Funds:
https://www.saturna.com/mutual-funds/distributions
Schwab Funds:
https://www.schwabfunds.com/resource/schwab-funds-estimated-annual-distributions-2020
Seafarer Funds:
http://www.seafarerfunds.com/funds/ogi/distributions (Overseas Growth & Income)
http://www.seafarerfunds.com/funds/ovl/distributions ( Overseas Value)
Segall Bryant & Hamill Funds or SBH Funds:
https://www.sbhfunds.com/wp-content/uploads/2019/04/Distribution-Information-2020_11.pdf
Selected Funds:
https://selectedfunds.com/document/read/2020_estimated_year_end_capital_gains_distributions
Semper Funds:
http://semperfunds.com/index.html
Sequoia Fund:
https://www.sequoiafund.com/Communications
Sound Shore Fund:
http://www.soundshorefund.com/cap_gains.asp
Sierra Mutual Funds:
https://sierramutualfunds.com/media/127732/20-estimated-cap-gains.pdf
Smead Value Fund:
https://smeadcap.com/wp-content/uploads/2020/10/2020-Dividend-Estimates.pdf
SSGA ETFs:
https://www.ssga.com/library-content/products/fund-data/etfs/us/distribution/spdr-etf-2020-capital-gain-estimate.pdf
and
https://www.ssga.com/us/en/individual/etfs/resources/documents/dividend-distributions
Sterling Capital Funds:
https://6b517bbbe092ed90657e-e87f61d6c272d3a7e8ddccf5e9815e01.ssl.cf2.rackcdn.com/SC-Funds-Est-Capital-Gains-2020-2.pdf
TCM Small Cap Growth Fund:
https://ea83200a-ea1c-4496-9ce5-d9a0d3c7578e.filesusr.com/ugd/caaf6a_a2966becbd7844d5b41b84702edf6505.doc?dn=TCMSX - 2020 Estimated Distribution Info
TCW Funds:
https://www.tcw.com/-/media/Downloads/Products/US-Funds/TCW-Funds/Distribution-and-Tax-Information/TCW-FUND-Final-Distributions.pdf
T Rowe Price Funds:
https://www.troweprice.com/personal-investing/resources/planning/tax/dividend-distributions/mutual-funds/preliminary-year-end-distributions.html
Third Avenue Funds:
https://thirdave.com/2020-estimated-income-capital-gain-distributions/
Thompson IM Funds:
https://thompsonim.com/pdf/2020EstDistributions.pdf
Thornburg Funds:
https://www.thornburg.com/products-performance/mutual-funds/capital-gains/
Thrivent Funds:
https://www.thriventfunds.com/support/tax-resource-center/capital-gains.html
TIAA-CREF Funds:
https://www.tiaa.org/public/pdf/2020_estimated-annual-taxable-distributions-w-class.pdf
https://www.tiaa.org/public/pdf/2020_estimated_annual_taxable_distribution-institutional_share_class.pdf
https://www.tiaa.org/public/pdf/2020_estimated_annual_taxable_distribution-retail_share_class.pdf
Tocqueville Funds:
https://www.tocquevillefunds.com/sites/default/files/Distributions_2020_prelim_111020.pdf
Touchstone Investments:
https://www.westernsouthern.com/-/media/files/touchstone/tax-planning/capital-gains.pdf
Transamerica Funds:
https://www.transamerica.com/media/tmf-dividend-distributions-estimates-2020_tcm145-122072.pdf
Tributary Funds:
https://www.tributaryfunds.com/wp-content/uploads/2020/11/TRB-Funds-Capital-Gain-Estimates-2020.pdf
Trillium Funds:
https://www.trilliuminvest.com/statutory-documents/capital-gains-distribution-report
Tweedy Browne Funds:
https://www.tweedy.com/resources/library_docs/general/2020 Estimated Distributions 8-31-20.pdf

Madison Funds:
https://www.madisonfunds.com/individual/tax-info
Mainstay Funds:
https://www.newyorklifeinvestments.com/assets/documents/tax/Cap-Gains- Estimate.pdf
Mairs and Power Funds:
https://www.mairsandpower.com/about-us/company-news/item/85-estimated-2020-capital-gains-and-dividends
Marisco Funds:
https://www.marsicofunds.com/investor-resources/content/distributions.fs
Marketfield Fund:
http://www.marketfieldfund.com/
Matthews Funds:
https://us.matthewsasia.com/investor-resources/fund-distributions.fs
Meridian Funds:
http://meridianfund.com/files/3216/0313/3712/2020_Estimated_Distributions_-_Meridian_Funds_093020.pdf
MetWest Funds:
https://www.tcw.com/-/media/Downloads/Products/US-Funds/MetWest-Funds/Distribution-and-Tax-Information/MWFUNDsb.pdf
Miller Family of Funds:
https://www.millerfamilyoffunds.com/wp-content/uploads/2020/10/Miller-Funds-Distribution-2020-Capital-Gains-Estimates.pdf
Miller Value Funds:
https://millervaluefunds.com/wp-content/uploads/pdf/miller-value-funds-cap-gains.pdf?cache=1605314555364
Mirae Asset Discovery Funds:
https://investments.miraeasset.us/application/files/5716/0328/4352/2020_Estimated_Capital_Gains_Distributions.pdf
Monetta Financial Services:
https://monetta.com/dividend-distributions/
Moerus Fund:
http://moerusfunds.com/wp-content/uploads/2020/11/Moerus-Worldwide-Value-Fund-Income-Distribution-Estimates-2020.pdf
Morgan Stanley Funds:
https://www.morganstanley.com/im/publication/forms/tax/2020-estimated-year-end-distributions.pdf
Nationwide Funds:
https://nationwidefinancial.com/media/pdf/MFN-0435AO.pdf?_ga=2.134231921.1236466564.1605037437-1390456055.1602175989
Natixis Funds:
https://www.im.natixis.com/us/year-end-distribution-estimates
Needham Funds:
https://www.needhamfunds.com/mutual-funds/aggressive-growth-fund/
https://www.needhamfunds.com/mutual-funds/growth-fund/
https://www.needhamfunds.com/mutual-funds/small-cap-growth-fund/
Neuberger Berman Funds (in Excel):
http://www.nb.com/handlers/documents.ashx?id=99b3690c-6309-4eaa-a108-b50d7a625e62&name=2020_Distribution_Estimates_Alternative_Funds.xlsx
http://www.nb.com/handlers/documents.ashx?id=281591ae-c8a3-41e1-82cd-ee4e41e45294&name=2020_Distribution_Estimates_Income_Funds.xlsx
http://www.nb.com/handlers/documents.ashx?id=05223716-3b3f-411b-a2d7-c3c7b7ee12a3&name=2020_Distribution_Estimates_Equity_Funds.xlsx
Nicholas Funds:
https://www.nicholasfunds.com/Distribution-Information/2020_Distribution_Calendar.htm
North Square Investments:
https://northsquareinvest.com/wp-content/uploads/2020/10/2020-North-Square-Funds-Estimated-Capital-Gains-Distributions-1.pdf
North Star Funds (new):
https://nsinvestfunds.com/insights/news/
Northern Trust Funds:
https://cdn.northerntrust.com/pws/nt/documents/funds/resources/estimated-capital-gains-2020.pdf
Nuance Investments:
https://www.nuanceinvestments.com/mutual-fund-news
Nuveen Funds:
https://documents.nuveen.com/Documents/Nuveen/Default.aspx?fileId=49964
Oak Associates Funds:
https://www.oakfunds.com/articles/2020-capital-gains-estimates
Oakmark Funds (updated):
https://oakmark.com/news-insights/2020-year-end-fund-distributions/
Oberweis Funds:
https://oberweisfunds.com/wp-content/uploads/2020/11/2020-Capital-Gains.pdf
Olstein Funds:
https://www.olsteinfunds.com/assets/images/documents/2020DistEstimate.pdf
Osterweis Funds:
https://www.osterweis.com/files/Osterweis_Funds_Distribution_Estimates_9.30.20.pdf
Pacific Funds:
http://www.pacificfunds.com/content/dam/paclife/rsd/mutual_funds/public/sales_materials/documents/mfc0858.pdf
Palmer Square Funds:
https://palmersquarefunds.com/uploads/2020 Estimated Capital Gains Summary.pdf
PartnerSelect Funds/Litman Gregory Masters Funds:
https://partnerselectfunds.com/distribution-estimates
Pax World Funds:
https://impaxam.com/customer-service/distributions/
Payden & Rygel Funds:
https://www.payden.com/capitalGains.aspx
Pear Tree Funds:
https://www.peartreefunds.com/sites/default/files/2020 Distribution Estimate Memo.pdf
Permanent Portfolio of Funds:
https://www.permanentportfoliofunds.com/pdf/PP Estimated D&D.pdf (Permanent Portfolio)
https://www.permanentportfoliofunds.com/pdf/AGP Estimated D&D.pdf (Aggressive Portfolio - ouch!)
https://www.permanentportfoliofunds.com/pdf/VBP Estimated D&D.pdf (Versatile Bond)
https://www.permanentportfoliofunds.com/pdf/STTP Estimated D&D.pdf (Short term Treasury)
Perritt Funds:
https://www.perrittcap.com/perritt-funds-tax-distribution-update/
PGIM Funds:
https://www.pgim.com/investments/getpidoc?file=7A78EEDA86AC41D8B28D2B0B960E87A3
Pimco Funds:
https://www.pimco.com/handlers/displaydocument.ashx?wd=Portfolio Statistics for Advisors&fn=PIMCO Funds 2020 Capital Gain Estimates.pdf&id=aAFD1OQfiDCWFuFlqvv2wob82t89TgQQWC3WV0JeVYAZa4KVp21fiJF+DPn2e/yS/fSaWO0VW0McdVca2tcGSEEfo0JGL/JcNeie08OWpm+ehL6ddl5A1OesKbkpdinU4GxfpwFmKPDdiU6RwepohEZPA2lITpXS1ks4r7UWGscwIlR1Wo0a57eI0SfiQUyvwDcoMnKVeY71voCUMQ9q8P9wCsUR5AxZEbth0orfUvequlUPEVf2RvyzUSqz/ZWpnesEauakhoL6qLYeY4CI9/fDxUAd7YktguBT/k/GJDCOc+0QJewTiZZ56ymUteqZ (Pimco Funds)
https://www.pimco.com/handlers/displaydocument.ashx?wd=Portfolio Statistics for Advisors&fn=EqS Funds 2020 Capital Gain Estimates.pdf&id=+EgXZk/mUIMSFY+Lw8h68oloHlFCY8P6Bt1obvinEd72B+Ma4Fw7QG4VYdmXJ30EIWcdWPHaBCUCAeEJhNqosjJFTTtOA/HJaupxJmfKSpZpofr5l7n4qwG7Myo5RxeUG7+anbnn2JbBKy5MzfpaEXZtzvcbn9mKeOwmRteYZXKYsPmvfJryWZGiOFyGV4RPE2VqCZrCwPVPmRVNH2unfR0bkYN3KhFVlYVi9Jp0r6xVWzTMfrrXD8uTEycIoF+xa19TFQ9qLZNzPeAzxn1gGRK7cvfUb0hsdE8whe8HUuyNGqDE52Zb4G2FI77DQrNM (EqS Funds)
Pinnacle Value Fund:
http://www.pinnaclevaluefund.com/historicalresults.aspx
Polen Capital Funds:
https://www.polencapital.com/wp-content/uploads/Polen-Year-End-Capital-Gain-Distribution-Estimates.pdf
Praxis Funds:
https://doclib.everence.com/WorkArea/DownloadAsset.aspx?id=29106#_ga=2.191446696.34554281.1580136051-485147425.1509020101
Primecap Odyssey Funds (updated):
https://www.primecap.com/wp-content/uploads/2020/12/Odyssey-Funds-Final-Distribution-Amounts-2020.pdf
Principal Funds:
https://secure02.principal.com/publicvsupply/GetFile?fm=MM3682&ty=VOP&EXT=.VOP
Provident Trust Strategy Fund (new):
https://www.provfunds.com/docs/12.18.20 Distribution Summary.pdf
PT Asset Management Funds:
http://ptam.com/documents/2020CapitalGainsDisclosures.pdf
Putnam Funds:
https://www.putnam.com/literature/pdf/TX001-6a6398e1779dd03e057b2f6f9972ee58.pdf
Pzena Funds:
https://www.pzena.com/wp-content/uploads/2020/11/MF-Estimated-Capital-Gains-2020.pdf

James Advantage Funds:
https://www.jamesinvestment.com/our-funds.php#distributions
Janus Henderson Funds:
http://14ad5b129c619bdad0f9-eba658c6bc03668a61900f643427d64d.r81.cf1.rackcdn.com/Documents/product/distribution-tax/2020-Preliminary-Distribution-Estimates.pdf
Jensen Growth Fund (unable to copy links for Growth or Value Funds):
Long-Term Capital Gains Distributions
The Fund expects to pay a Long-Term Capital Gains Distribution to shareholders on December 15, 2020. The estimated record date, estimated ex-dividend date, and estimated payable/reinvestment dates are as follows:
Record Date: December 14, 2020
Ex-dividend Date: December 15, 2020
Payable/Reinvestment Date: December 15, 2020
Long-Term Capital Gains Distributions by Share Class:
Class J - $4.73 per share
Class I - $4.73 per share
Class R - $4.73 per share
Class Y - $4.73 per share
The Fund’s estimated long-term capital gains distributions this year are $4.73/share, compared to $3.665/share paid for 2019.
Short-Term Capital Gains Distributions
The Fund does not expect to pay a Short-Term Capital Gains Distribution for shareholders in 2020
Jensen Value Fund:
Long-Term Capital Gains Distributions
The Fund expects to pay a Long-Term Capital Gains Distribution to shareholders on December 15, 2020. The estimated record date, estimated ex-dividend date, and estimated payable/reinvestment dates are as follows:
Record Date: December 14, 2020
Ex-dividend Date: December 15, 2020
Payable/Reinvestment Date: December 15, 2020
Long-Term Capital Gains Distributions by Share Class:
Class J - $0.038 per share
Class I - $0.038 per share
Class Y - $0.038 per share
The Fund’s estimated long-term capital gains distributions this year are $0.038/share, compared to $0.483/share paid for 2019.
Short-Term Capital Gains Distributions
The Fund expects to pay a Short-Term Capital Gains Distribution to shareholders on December 15, 2020. The estimated record date, estimated ex-dividend date, and estimated payable/reinvestment dates are as follows:
Record Date: December 14, 2020
Ex-dividend Date: December 15, 2020
Payable/Reinvestment Date: December 15, 2020
Short-Term Capital Gains Distributions by Share Class:
Class J - $0.040 per share
Class I - $0.040 per share
Class Y - $0.040 per share
Jensen Global Quality Growth Fund
Ordinary Income Dividend Distributions
An Ordinary Income Dividend Distribution was paid to shareholders on December 15, 2020.
The record date, ex-dividend date, and payable/reinvestment date were as follows:
• Record Date: December 14, 2020
• Ex-dividend Date: December 15, 2020
• Payable/Reinvestment Date: December 15, 2020
Ordinary Income Dividend Distributions by Share Class:
• Class J – $0.006 per share
• Class I – $0.014 per share
• Class Y – $0.015 per share
JOHCM Funds:
https://www.johcm.com/us/how-to-invest/231/distributions
John Hancock Funds:
https://www.jhinvestments.com/content/dam/JHINV/public/Corporate/News/CorporatePressReleases/2020-estimated-capital-gain-and-income-distributions-press-release-jhi.pdf
JP Morgan:
https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/capital-gain-distributions/jpmorgan-mutual-funds-2020-estimated-capital-gains.pdf (funds;same as below different web address)
https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/news-and-fund-announcements/2020-etf-estimated-capital-gains.pdf (etfs)
Keeley Funds:
https://keeleyfunds.com/funds/distributionsummary.php
Kinetics Funds:
http://kineticsfunds.com/wp-content/uploads/2020/10/KMF-2020-Estimated-distributions.pdf
Kopernik Global Funds:
https://www.kopernikglobal.com/sites/default/files/KGI CG MEMO - October 2020 Estimate.pdf
Krane Shares:
http://kraneshares.com/resources/2020_10_kraneshares_cap_gain_estimate.pdf
Laudus Funds:
https://www.schwabfunds.com/resource/laudus-funds-estimated-annual-distributions-2020
Lazard Funds:
https://www.lazardassetmanagement.com/docs/-m0-/1791/LazardFundsAnnualDistributionsEstimates.pdf
Leuthold Funds:
https://funds.leutholdgroup.com/latest-news/522/download
LKCM Funds:
https://www.lkcmfunds.com/media/pdfs/2020_Year_End_Mutual_Fund_Distribution_Estimates_LKCM_ONLY_10-27-20.pdf
LoCorr Funds:
https://www.locorrfunds.com/documents/Annual_CapitalGains-Dividends.pdf
Loomis Sayles Funds:
https://www.loomissayles.com/internet/internet.nsf/content?readform&ctype=capitalgains&channel=mf
Longleaf Partners Funds:
https://southeasternasset.com/report/2020-capital-gains-estimates/
Lord Abbett Funds (check Micro cap fund):
https://www.lordabbett.com/en/strategies/tax-center/capital-gain-distributions.html#la_Estimated_Capital_Gains
and
https://www.lordabbett.com/en/strategies/tax-center/capital-gain-distributions.html#la_Actual_Capital_Gains
Lyrical Value Fund:
http://lyricalvaluefunds.com/wp-content/uploads/2019/09/2020_Distribution_Estimate.pdf

Eaton Vance Funds:
https://funds.eatonvance.com/media/4878.pdf
Edgewood Growth Fund:
http://www.edgewood.com/documents/Edgewood Growth Fund Estimated Capital Gain Letter 2020.pdf
Emerald Funds:
https://www.emeraldmutualfunds.com/documents/emeraldmutualfunds-hand-20201123.pdf
Eventide Funds:
https://www.eventidefunds.com/wp-content/uploads/Eventide-2020-Year-End-Distribution-Estimate.pdf
Fairholme Funds:
https://static1.squarespace.com/static/53962eb7e4b053c664d74f3d/t/5fbd7bdc12884a132d9c398b/1606253532923/FAIRXFOCIXFAAFXEstimateQ42020.pdf
FAM Funds:
https://www.famfunds.com/resource-center/tax-center
Federated Hermes:
https://services.federatedinvestors.com/teamsite-file-server/content/Preliminary+Capital+Gains?token=ZGFmXHBkZlxyZXNvdXJjZXNcdGF4Y2VudGVyXDUwMTM1LnBkZg==|1|MC4CFQCVUo4UIDk1dXqS7iCBhTzbm7jH9QIVAJVIh8x6Fa8I9mdlwxC9I8JNQZKm
Fidelity Funds:
https://www.fidelity.com/mutual-funds/information/distributions#/?table=estimated
or
https://institutional.fidelity.com/app/tabbed/products/FIIS_SP52_DPL2_DSC1.html?navId=320
First Eagle Funds:
https://www.feim.com/sites/default/files/8.31.20 Summary dividend estimates.pdf
FMI Funds:
https://www.fmimgt.com/fmi/funds/other/2020_Y-E_Distributions.pdf
FPA Funds:
https://fpa.com/docs/default-source/tax-dividend-info/all-fund-year-end-2020-distributions-estimates.pdf?sfvrsn=2
Franklin Templeton Funds:
https://www.franklintempleton.com/content-common/sales-tools/en_GB/local_US/2020-Cap-Gain-Indications.pdf
or
https://www.franklintempleton.com/investor/investments-and-solutions/investment-resources/capital-gains-distributions
https://www.franklintempleton.com/content-common/miscellaneous/tax-forms/en_US/etf-cap-gain-estimates-2020.pdf (Franklin ETFs)
Frost Funds:
https://frostinv.com/dam/jcr:7d7ba670-44fb-4cce-b5c5-a382c2d0ebb9/2020_Cap_Gains_Estimatesm.pdf
GAMCO Funds:
https://www.gabelli.com/funds/open_divest2020
Glenmede Funds:
https://www.glenmede.com/files/2020-glenmede-funds-capital-gains-estimates.pdf?1603322599
Goldman Sachs Asset Management:
https://www.gsam.com/content/dam/gsam/pdfs/sales-marketing/2020 Capital Gain Prelim Estimates.pdf?sa=n&rd=n
Gotham Funds:
https://www.gothamfunds.com/Download.aspx?ID=1ae12dae-73a9-49a7-a4dc-1ed3bcc188c1&Name=2020_Preliminary_Distributions
GQG Funds:
https://gqgpartners.com/wp-content/uploads/2020/10/10.2020-Distribution-Estimate-Cap-Gains.pdf
Grandeur Peak Funds (see microcap fund):
https://www.grandeurpeakglobal.com/distributions
Greenspring Fund:
https://www.greenspringfund.com/distributions-3-2/
Guidestone Funds:
https://www.guidestonefunds.com/Tax Information/Capital-Gains
Harbor Funds:
https://www.harborfunds.com/docs/2020_fund_distribution_estimates.pdf
Harding Loevner Funds:
https://media.hardingloevner.com/fileadmin/pdf/HLF/HLF-Distribution-Estimates-Aug20.pdf
Hartford Funds:
https://www.hartfordfunds.com/dam/en/docs/pub/funddocuments/regulatorydocument/Tax Center/2020HartfordFundsOctoberCapitalGainsEstimate.pdf
https://www.hartfordfunds.com/dam/en/docs/pub/funddocuments/regulatorydocument/Tax Center/2020HartfordActiveFixedIncomeAndMultifactorETFsCapitalGainsEstimate.pdf
(etfs)
Hartford Schroders International Stock Fund (only):
https://www.hartfordfunds.com/dam/en/docs/pub/funddocuments/regulatorydocument/Tax Center/capgainsdistributions/2020 Hartford Schroders International Stock Fund Capital Gains Estimate.pdf
Heartland Funds:
https://www.heartlandadvisors.com/Products/Mutual-Funds/Tax-Information
Hennessy Funds:
https://www.hennessyfunds.com/funds/distributions
Hodges Funds:
https://hodgesfunds.com/articles/2020-estimated-capital-gains
Homestead Funds:
https://www.homesteadfunds.com/wp-content/uploads/year-end-estimated-distributions.pdf
HSBC Funds:
https://investorfunds.us.hsbc.com/SiteFiles/Live/documents/taxinformation/d-6/2020-hsbc-funds-capital-gains-distribution.pdf
ICM Small Company Portfolio Fund:
https://www.icomd.com/downloads/ICM_Small_Co_Portfolio_Est_Capital_Gain_Distribution.pdf
Icon Advisors Funds (new):
https://iconadvisers.com/resource-center/tax-center/distributions/
IndexIQ ETF:
https://www.newyorklifeinvestments.com/assets/documents/tax/indexiq-capital-gains-estimates.pdf
Invesco Funds:
https://www.invesco.com/pdf/IFCG-FLY-2-E.pdf?contentGuid=92381f2d153
or
https://www.invesco.com/us-rest/contentdetail?contentId=9a64a8c235512410VgnVCM100000c2f1bf0aRCRD
iShares:
https://www.ishares.com/us/capital-gains-distributions
IVA Funds:
https://www.ivafunds.com/documents/news/Estimates 2020 Capital Gains and Income Distribution.pdf
Ivy Funds:
https://documentdownload.hartehanks.com/AssetDisplay?acc=WRSC&itemCode=IVYCAPGAINS

'Tis that time of year again! Some preliminary estimates are now available. As in years past, please alphabetize your funds. To make it easier for readers post (new) next to your additions to differentiate it from your older existing posts. Thanks to everyone who contributes and posts their information.
1919 Funds:
https://1919funds.com/pdfs/all/1919-Capital-Gains.pdf
1290 Funds:
http://www.1290funds.com/documents/1290funds-taxst-20201112.pdf
Aberdeen Funds:
https://www.aberdeenstandard.com/docs?editionId=628319b8-0389-42da-9283-be59cf005fff
Advisor Asset Management (AAM):
https://docs.aamlive.com/fisdocuments/marketing/mutualfund/distributions_estimated_all.pdf
Aegis Value Fund:
https://www.aegisfunds.com/assets/pdfs/Aegis_Value_Fund-2020_Distributions.pdf
AIG Funds:
https://www-1012.aig.com/pdf/capital-gains-estimates.aspx
Akre Funds:
https://www.akrefund.com/historical-distributions/
Alger Funds:
https://www.alger.com/Pages/Page.aspx?pageLabel=DividendsDistributions
Alliance Bernstein Funds:
https://www.alliancebernstein.com/sites/investments/us/resources/pdf/FINAL_GEN-5796.pdf
Allianz Global Funds:
https://us.allianzgi.com/documents/AllianzGI-Funds-2020-Capital-Gains-Distribution-Estimates-with-NAV
https://us.allianzgi.com/documents/AllianzGI-Funds-2020-Capital-Gains-Distribution-Estimates-without-NAV
https://us.allianzgi.com/documents/AllianzGI-Funds-2020-Capital-Gains-Distribution-Estimates-with-NAV-I-share
AlphaCentric Funds:
http://alphacentricfunds.com/wp-content/uploads/2020/11/AlphaCentric-Distributions-2020-11-20-EST-1.pdf
ALPS Funds:
https://www.alpsfunds.com/api/resources/6d0c88f52b125613cb74a7d3eb03fef2.pdf
American Beacon Funds:
https://www.americanbeaconfunds.com/downloads/resourcecenter/TaxAndDividend/2020YearEndEstDiv.pdf
American Century Funds:
https://www.americancentury.com/content/direct/en/insights/guidance-planning/tax-center/preparing-your-taxes/estimated-distributions.html
American Funds:
https://www.capitalgroup.com/individual/service-and-support/tax-center/2020-year-end-distributions.html
AMG Funds:
https://www.amgfunds.com/content/dam/amgfunds/documents/other/amgf-capital-gains.pdf
Amundi Pioneer Funds (updated):
https://www.amundipioneer.com/us/ezjscore/call/ezjscamundibuzz::sfForwardFront::paramsList=service=ProxyGedApi&routeId=_dl_YzI1ZTE0MDk2NzJlZWM5ODMxMTI1ZWI0Nzc5ZDcyYTU_download
Angel Oak Funds:
https://angeloakcapital.com/2020-estimated-capital-gains/
AQR Funds:
https://funds.aqr.com/-/media/Files/Fund-Documents/2020-Estimated-Distribution-Memo.pdf?la=en&hash=FDBFAC67BD1284C1343E41FB3EAB7332
Aquila Funds:
https://aquilafunds.com/2020/10/29/estimated-capital-gain-distributions-as-of-september-30-2020/#.X5xZ_nySmM8
Arbitrage Funds:
https://arbitragefunds.com/news/2020/10/22/arbitrage-funds-2020-year-end-distribution-estimates
Ariel Funds:
https://www.arielinvestments.com/distributions/
Aristotle Funds:
https://aristotlefunds.com/wp-content/uploads/2020/10/Aristotle-Funds-2020-Distribution-Estimates-as-of-2020-09-30-ACM-2010-241.pdf
ARK Etfs:
https://etfs.ark-funds.com/hubfs/1_Download_Files_ETF_Website/Performance-and-Other/Capital_Gains_Distribution_ARK_ETFs.pdf
Artisan Partners Funds:
https://www.artisanpartners.com/individual-investors/resources/tax-center/distributions.html
Ave Maria Funds:
https://www.avemariafunds.com/fund-family/dist-2020.html
Baillie Gifford Funds:
https://www.bailliegifford.com/en/usa/professional-investor/literature-library/funds/mutual-funds/estimated-capital-gain-distributions/
Baird Funds:
https://content.rwbaird.com/BairdFunds/PDF/2020-Estimated-Capital-Gains.pdf
Barings Funds:
https://www.barings.com/us/guest/news/press-releases/important-information-about-capital-gains-and-ordinary-income-distributions-december-2020
Baron Funds:
https://www.baronfunds.com/tax-center
BBH Funds:
https://www.bbhfunds.com/resource/blob/48770/3a9ed6c0f13cd9716fc10f209aaa1930/bbh-2020-estimated-year-end-distributions-data.pdf
Blackrock Funds:
https://www.blackrock.com/us/financial-professionals/literature/distribution-information/blackrock-funds-distribution-estimates-2020.pdf
BNY Mellon Funds:
https://im.bnymellon.com/us/en/documents/manual/tax-forms/2020-bny-mellon-family-of-funds-cap-gain-estimates.pdf
Bogle Small Cap Growth Fund:
https://boglefunds.com/mutualfund
Boston Partners Funds (check out Long/Short Equity Fund):
https://www.boston-partners.com/wp-content/uploads/2020/11/bp-funds-2020-estimated-cap-gain-dist-final.pdf
Bridgebuilder Funds:
http://www.bridgebuildermutualfunds.com/wp-content/uploads/pdfs/current/Bridge_Builder_2020_Capital_Gains.pdf
Bridgeway Funds:
https://bridgewayfunds.com/wp-content/uploads/sites/2/2020/11/2020-est-distributions.pdf
Brookfield Investment Funds:
https://publicsecurities.brookfield.com/~/media/Files/B/Brookfield-BIM-V4/documents/us-mutual/Brookfield Investment Funds Capital Gains Estimate 2020_Web.pdf
Brown Advisory Funds:
https://www.brownadvisory.com/sites/default/files/2020 Distribution Update October.pdf
Bruce Fund (paid (figures rounded))
Ordinary income $13.58
STCG - $.92
LTCG -$21.91
Buffalo Funds:
https://buffalofunds.com/our-funds/performance/#dividends
Calamos Funds:
https://www.calamos.com/globalassets/media/documents/tax-center/2020-calamos-estimated-capital-gains.pdf
Calvert Funds:
https://www.calvert.com/media/27727.pdf
Cambiar Funds:
https://www.cambiar.com/capital-gains-2020-estimates/
Carillon Tower Advisors:
https://www.carillontower.com/our-funds/fund-information
Castle Investment Management Funds:
https://www.castleim.com/wp-content/uploads/2020/11/A-Castle-Tandem-Cap-Gain-Estimate-Nov-10-2020.pdf
https://www.castleim.com/wp-content/uploads/2020/11/A-Castle-Focus-Cap-Gain-Estimate-Nov-10-2020.pdf
Catalyst Funds:
https://catalystmf.com/wp-content/uploads/sites/3/2020/11/catalyst-distributions-2020-11-20-est.pdf
Causeway Funds:
https://www.causewaycap.com/wp-content/uploads/2020_Causeway-Funds-Prelim-Distributions.pdf
Centerstone Investors:
https://centerstoneinv.com/wp-content/uploads/2020/10/Website-Summary-Dividend-Distribution-October-2020-1.pdf
Champlain Funds (updated):
https://mk0cipvtgu55k27ej46.kinstacdn.com/wp-content/uploads/2020/11/Champlain-Estimated-Yr-End-Distributions-2020-vr111320.pdf
Chartwell Funds:
https://www.chartwellip.com/ContentDocumentHandler.ashx?documentId=56962
City National Rochdale Funds:
https://www.citynationalrochdalefunds.com/assets/PDFs/Distributions/CNR_Cap_Gains_Distribution_Memo_2020.pdf
Clarkston Funds:
http://www.clarkstonfunds.com/documents/clarkstonfunds-dd-20201112.pdf
Clipper Fund:
https://clipperfund.com/document/read/2020_estimated_year_end_capital_gains_distributions
Cohen & Steers Funds:
https://assets.cohenandsteers.com/assets/content/tax_documents/2020_Estimated_Supplemental_Capital_Gain_Distributions_for_Open-End_Mutual_Funds.pdf
Coho Funds:
https://www.cohofunds.com/relative-value-equity-fund/tax-information/
Columbia Threadneedle Funds (incl. Acorn Funds):
https://www.columbiathreadneedleus.com/binaries/content/assets/cti/public/2020_YE_CAPITAL_GAIN_DISTRIBUTION_ESTIMATES.PDF
Commerce Funds (bottom of page):
https://www.commercefunds.com/fund-information/distributions
Congress Asset Funds:
http://www.congressasset.com/funds/assets/mutual-fund-capital-gains-2020.pdf
Credit Suisse Funds:
https://www.credit-suisse.com/media/assets/asset-management/docs/us/tax-information/2020/2020-december-distribution-notification.pdf
CRM Funds:
http://www.crmfunds.com/funds-overview/shareholder-resources/distributions/
Crossmark Steward Funds:
https://www.crossmarkglobal.com/wp-content/uploads/Crossmark-Steward-2020-Estimated-Year-End-Distributions-093020.pdf
Cullen Funds:
http://www.cullenfunds.com/documents/cullen-high-dividend-equity-fund-dd-20201031.pdf
Davis Funds:
https://davisfunds.com/document/read/2020_estimated_year_end_capital_gains_distributions
Delaware Funds:
https://mim.fgsfulfillment.com/download.aspx?sku=CGE-RET
DF Dent Funds:
https://dfdent.com/wp-content/uploads/2020/12/Capital-Gains-Distribution-2020.pdf
DGHM Funds (new):
https://dghmfunds.com/wp-content/uploads/DGHM-MicroCap-Value-Fund-Capital-Gains-Distribution.pdf
Diamond-Hill Funds (updated):
https://www.diamond-hill.com/wp-content/uploads/DHF-capital-gain-estimates-as-of-10-31-20.pdf
Dimensional Funds:
https://us.dimensional.com/-/media/Dimensional/Documents/US/2020-distributions.pdf?la=en&hash=37CC2986F663EEBBD23DCE2C38D176511DE38019
Dodge & Cox Funds:
https://www.dodgeandcox.com/pdf/shareholder_services/dc_estimated_year_end_distributions_2020.pdf
Domini Funds:
https://www.domini.com/manage-account/tax-center/dec-2020-distributions-1
Doubleline Funds:
https://doublelinefunds.com/wp-content/uploads/2020-DL-Funds-Estimated-Capital-Gains-10-23-2020.pdf
Driehaus Funds:
https://www.driehaus.com/system/uploads/fae/file/asset/419/DMF_Year_End_Distribution_2020.pdf
Dunham Funds:
https://www.dunham.com/FA/Pages/YearEndDistributions

I wasn't expecting FIPDX to return roughly 9% this year. I thinks there's something to be said for already being there when things turn around ...

Yahoo shows FIPDX having a current duration of 5.7 years, below the 7.3 year category average. I’d consider that to be intermediate term. From my own holdings (not inflation protected) it appears that the intermediare part of the yield curve has had a very good year. Some of that, I suspect, indirectly related to Fed purchases of corporates / ETFs, whose effects ripple through the whole bond market.
.05% ER? That’s insane. How do they make any money? :) I do still have a spot for some high quality bond funds. But not expecting much going forward. The value to me is in the perceived “safety” of AAA debt which is something you can rebalance into when your other asset classes have outperformed. Of course, an argument can also be made for cash, which is more stable.
TIPS? I’ve read both bearish and bullish commentaries recently. No opinion. What many miss, I think, is that TIPS funds do react to changes in interest rates as do other types of bonds. Yes - they also compensate the holder for increases in the CPI. But my concerns would be that that inflation adjustment would not compensate holders enough to offset a sharp decrease in bond values due to rising rates. Not a prediction. Just trying to express that I think TIPS are a bit more complex than many think. Additionally, if held thru a fund, holders would suffer further negative consequences as fleeing investors force managers to sell securities at declining prices. Always eager to learn more about TIPS. Never held them. Maybe some day. Glad to hear @WABC has something to cheer about re FIPDX.
PS - Thanks everybody for trying to get MFO back to what it does best: Discussing funds and investing.

related -
Vaccinations perspectives
maybe too soon too early
[but we may not have many options unless herd immunity happens]
https://www.nejm.org/doi/full/10.1056/NEJMp2029479?query=TOC
Up Is Down — Pharmaceutical Industry Caution vs. Federal Acceleration of Covid-19 Vaccine Approval
List of authors.Jerry Avorn, M.D.,
and Aaron S. Kesselheim, M.D., J.D., M.P.H.
Nine pharmaceutical company leaders took the unprecedented step on September 8, 2020, of stating that they would refuse to apply for approval of a Covid-19 vaccine until adequate trial data are available.1 This announcement reflected an unusual role reversal at a time of unexpected regulatory anomalies. For decades, manufacturers have criticized the Food and Drug Administration (FDA) for being too slow and demanding too much evidence before approving new products. But in the face of growing public concern that the federal government might push forward release of a Covid-19 vaccine despite inadequate evidence, these roles seem to have reversed.