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FMI to Quit as Advisor to FMIRX

reids
edited July 2012 in Fund Discussions
Based in large part on David's review, I have been a shareholder of FMI Provident Trust for a couple of years. Performance has been mixed but I appreciate the funds's approach. FMI has now decided to quit as the advisor to the fund (http://www.fiduciarymgt.com/fmifunds/fmirx/specialmeeting), which may be due to the fund's failure to attract assets and its recent performance. The sub-advisor would take over, which may mean nothing more than the back-office will change. Any thoughts on whether I should jump ship as well?

Comments

  • claimui
    edited July 2012
    It looks like the managers are staying in place and keeping the same investment strategy, so I don't think there is any reason to bail just yet. Keep an eye out for management changes and/or extra expenses.

    Of course, this assumes you are actually satisfied with the fund. Not all of David's reviews can be winners. The reviews do have a way of making you feel better about them, though. I own quite a few myself.
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