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It's always interesting to find the quirks in brokerage fund offerings. While PRWCX appears to be available at Merrill, the subject of this thread, PRCFX curiously is not. Likewise, DODLX is not available at Merrill though it sells other D&C funds.
Some of that overweighting comes with the territory. Global Wellesley is a large cap value fund on the equity side.
Since M* doesn't classify allocation funds with respect to value vs. growth, one can look instead at global large cap value funds for a reference. The benchmark index has 24.9% invested in financials, though the category average in only 19.15%. DODWX may be representative here, with a 21.61% exposure to financials.
With its 28.95% in financials, Global Wellesley is still overweight as compared with other large cap value funds. Though not as severely as first appeared.
@msf. Thanks for your comment. Given current circumstances being overweight in that sector concerns me. The problem with Balanced funds is that something will always be not to my liking.
In theory it’s easy. One US value fund. Add one international Value fund in the exact same proportion I desire. The two of them are just the equity allocation I choose. Then two bond ETFs to get the duration and credit quality that’s perfect for my taste. That’s it. My perfect one fund solution in four parts. Then next month I can begin second guessing four choices instead of one. And my dear wife will scream after I depart the scene.
The current VGWIX Fact Sheet indicates 57.1% of the fund's bond allocation was in U.S. bonds. Foreign bonds comprised 42.9% of the fund's bond allocation as of 12/31/2025.
PMAIX is a very boring global allocation fund and of the Seven, only has Amazon in the top 25 equities owned. It is one of a very few allocation funds to come out of 2022 in the green. @LynnBolin may own it. I'm pretty sure he has talked about it in his columns. I added it to my IRA recently.
That is correct @WABAC, I do own PMAIX and include it in one of February's articles. It's main attraction for me is the steady income in addition to capital appreciation. I like boring.
PMAIX is a very boring global allocation fund and of the Seven, only has Amazon in the top 25 equities owned. It is one of a very few allocation funds to come out of 2022 in the green. @LynnBolin may own it. I'm pretty sure he has talked about it in his columns. I added it to my IRA recently.
That is correct @WABAC, I do own PMAIX and include it in one of February's articles. It's main attraction for me is the steady income in addition to capital appreciation. I like boring.
Here is what David Snowball said about PMAIX in August of last year:
"What it does: The fund seeks high current monthly income relative to the broad market through a diversified portfolio of income-producing stocks and bonds. It has broad geographic diversification – 23% US equities, 21% international equities, 36% in bonds – and asset class diversification, including catastrophe bonds, master limited partnerships, and real estate. The equity holdings tend to be smaller and more value-oriented than their peers. The portfolio is also actively hedged to reduce volatility, while protecting income.
Why you might be interested: The fund has a 0.5 correlation with the S&P 500 and has returned 11.0% annually over the past five years. It has a 6.9% yield, almost double its peers’. MFO recognizes it as a Great Owl fund, and Morningstar assigns it five stars.
Why you might hesitate: This is an $8.3 billion fund, and lead manager Marco Pirondini recently added the responsibilities of Chief Investment Officer for the firm to his portfolio. Those responsibilities, plus some turnover in the management team, give Morningstar pause."
PMAIX. Lots to like here until I noticed the 37% allocation to Financial Services. Not much diversity here. That’s fine until it’s not. My PRPFX seemed to be well diversified until the PM sector quickly cooled off and then 25% seemed too much.
Something I learned a long time ago in the way back after selling PRWCX when it was experiencing a slowdown. Just go have a margarita and let Giroux do his thing. I am doing so with PRCFX.
Something I learned a long time ago in the way back after selling PRWCX when it was experiencing a slowdown. Just go have a margarita and let Giroux do his thing. I am doing so with PRCFX.
I own both, but much more of PRWCX. Call me stoopid and kick me in the ass.
You forgot to mention Scotch. I note here that Laphroig requires age confirmation to enter its website, yet I am unable to find a way to do so. I guess the webmaster needs to be fired.
Comments
edited
>> I've found little redeeming value in using Merrill.
PRWCX is buyable and also NL/NTF (it says)
It's always interesting to find the quirks in brokerage fund offerings. While PRWCX appears to be available at Merrill, the subject of this thread, PRCFX curiously is not. Likewise, DODLX is not available at Merrill though it sells other D&C funds.
Hard to tell what's going on without a scorecard.
Since M* doesn't classify allocation funds with respect to value vs. growth, one can look instead at global large cap value funds for a reference. The benchmark index has 24.9% invested in financials, though the category average in only 19.15%. DODWX may be representative here, with a 21.61% exposure to financials.
https://www.morningstar.com/funds/xnas/dodwx/portfolio
With its 28.95% in financials, Global Wellesley is still overweight as compared with other large cap value funds. Though not as severely as first appeared.
What to do!
https://www.aaii.com/fund/ticker/VGWIX
Foreign bonds comprised 42.9% of the fund's bond allocation as of 12/31/2025.
https://advisors.vanguard.com/assets/corp/fund_communications/pdf_publish/us-products/fact-sheet/F1496.pdf
wrong fav, was revvity
"What it does: The fund seeks high current monthly income relative to the broad market through a diversified portfolio of income-producing stocks and bonds. It has broad geographic diversification – 23% US equities, 21% international equities, 36% in bonds – and asset class diversification, including catastrophe bonds, master limited partnerships, and real estate. The equity holdings tend to be smaller and more value-oriented than their peers. The portfolio is also actively hedged to reduce volatility, while protecting income.
Why you might be interested: The fund has a 0.5 correlation with the S&P 500 and has returned 11.0% annually over the past five years. It has a 6.9% yield, almost double its peers’. MFO recognizes it as a Great Owl fund, and Morningstar assigns it five stars.
Why you might hesitate: This is an $8.3 billion fund, and lead manager Marco Pirondini recently added the responsibilities of Chief Investment Officer for the firm to his portfolio. Those responsibilities, plus some turnover in the management team, give Morningstar pause."
FWIW I agree with you & I also own it
You forgot to mention Scotch.
I note here that Laphroig requires age confirmation to enter its website, yet I am unable to find a way to do so. I guess the webmaster needs to be fired.