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M* Nominees For Allocation Fund Manager Of The Year
Guess I am surprised that M* included Target Date funds, since these are mostly mandated allocations and do not allow much tweaking from the "manager". After all, that's why they are included in 401k plans. Folks know what they are getting.
On the other hand, it was just as surprising that Ivy Asset Strategy's IVAEX Mike Avery & Ryan Caldwell and FPA Crescent's FPACX Steve Romick were not included. These two funds really do have the ability to go anywhere, and they have done just that over the years. They have no constraints.
Good to see PAUIX on the list. It deserves to be there.
I am surprised that M* included Target Date funds, since these are mostly mandated allocations and do not allow much tweaking from the "manager".
wholehartedly disagree, Bob. The article mentioned how JPM purposely underweighted equities in their TDF lineup. They replaced the usual equity allocation with high yield, real estate and EMD. This helped limit downside in 2011 and participate on the upside in 2009 and 2012 while, at the same time, TRowe Price is 'unapologetically' equity heavy and will always outperform during the equity rally, but will tank during the selloffs. Asset allocation is a huge decision in determining the glidepath. It is an active decision by the manager and it is being constantly re-thought, researched and tweaked to accommodate tactical and intermediate views.
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On the other hand, it was just as surprising that Ivy Asset Strategy's IVAEX Mike Avery & Ryan Caldwell and FPA Crescent's FPACX Steve Romick were not included. These two funds really do have the ability to go anywhere, and they have done just that over the years. They have no constraints.
Good to see PAUIX on the list. It deserves to be there.