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FMIRX becomes PROVX

VintageFreakVintageFreak
edited September 2012 in Fund Discussions
How did we at MFO miss this? Or am I the one who missed it.

My Schwab account now shows I own shares in PROVX not FMIRX. Worse PROVX not available at Schwab. I went to FMI funds website. FMIRX is gone saying Provident Trust Company is now the advisor. Err, it always was. Only now it is no longer an FMI fund and I cannot buy it any more.

I think I waste so much time trying to find what I think are stable companies trying to construct portfolio that I can truly manage passively and I kept getting thrown a curve ball. I just want to smash some chairs right now.

Comments

  • David_Snowball
    There was actually a short discussion back on July 12. You might search FMIRX here for the original.

    David
  • VintageFreakVintageFreak
    edited September 2012
    I will. I completely missed it, I supposed. Nothing a single malt will not compensate for.
  • David_Snowball
    Reply to @VintageFreak: Sorry about the clipped response. I was pecking away on a cellphone at the time. So far as I can tell, Provident Trust simply bought the fund back from FMI, effective 8/31. I don't know why. Neither the FMI nor the Provident (www.provtrust.com) websites offer an explanation, though the Provident site does have a cool old map of Oconomowoc, Wisconsin. Mr. Harkness of Provident has been the manager since 2002 and will continue. I'd talk to Schwab about availability; you might simply be caught in a time lag as the shareholders of ARIVX seem to be.

    David

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