new funds from firms that never launch new funds

David_Snowball

Hi, guys.

We've profiled five funds that seem to fit that description:

F P A International Value
Tweedy Browne Global High Dividend Yield Value
Oakmark Global Select
Dodge & Cox Global
Mairs & Power Small Cap

The hastiest launch in that bunch was Oakmark, launched just seven years after Oakmark International Small Cap. The most leisurely launch was about 50 years.

I've been working on a story about such funds and what (if anything) we might learn from them. Do other funds come to mind from firms that wait, say, 10 years or more between launches?

Thanks, as always!

David

AndyJ

FMI International, FMIJX? I get from the 'fund family' and 'management' pages on M* that it was launched in 2010, and the other four funds in the family came out in 1981, 1986, 1996, and 2001.

andrei

Recently opened and closed Longleaf Partners Global LLGLX

David_Snowball

Reply to @andrei: They were actually the original inspiration for the article. The key is that they won't have a track record by March 1, so I was poking about.

Thanks for the catch, though. David

David_Snowball

Reply to @AndyJ: There's a thought. I'll check. Thanks! David

Charles

I think you got some of the key companies David. Andy is right about FMI.

Here are a few more for you to consider, including some with high profile, like Ariel, Fairholme, First Eagle, Hussman, Jensen, Leuthold, LKCM, Osterweis, Third Avenue, Torray, Weitz...

Acadian Asset Management LLC
Advance Capital Management Inc
ALPS Advisors, Inc.
Ariel Investments, LLC
Azzad Asset Management, Inc.
Capstone Asset Management Company
Century Capital Management, LLC
Fairholme Capital Management LLC
FCA_Corp
First Eagle Investment Management, LLC
Heartland Advisors, Inc.
Hussman Strategic Advisors, Inc.
Jensen Investment Management, Inc.
Lee Financial Group Inc
Leuthold Weeden Capital Management LLC.
Luther King Capital Mgmt Corp
Osterweis Capital Management Llc
Pear Tree Advisors, Inc.
Robeco Investment Management, Inc.
Third Avenue Management LLC
Thomas White International Ltd
Torray LLC
Wallace R. Weitz & Company
Yorktown Management & Research Co Inc

Here are the funds:















BTW1. I counted some 770 fund families managed by 1400 companies. Can you believe?

BTW2. I left Artio off the list, but it too qualified I think.

BTW3. A related theme perhaps is new funds by established companies that run counter to their tradition...PIMCO with equity funds, Matthews with a bond fund, come to mind.

andrei

Tweedy, Browne Global Value II Ccy Unhdg TBCUX

MourningStars

Another could be the Global Equity offering from Brown Brothers Harriman mentioned in Funds in Registration here recently. Don't know if the fund is still a possibility or not.

MikeM

Would Fairholme fit this description? Berkowitz ran his flagship FAIRX fund for ~10 years before starting FOCIX and FAAFX.

One quick observation form Charles' list; most new funds seem to be global, international and emerging market funds. Others seem to have the word strategic or in essence give the manager flexibility to go outside the box.

Charles

Yes indeed, list corrected, good catch!