Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Without giving it too much thought, the fund site comment might be suggesting that fund's behaviour due to its use of short term options is somewhat like that of leveraged/inverse funds that reset quarterly. That is, the risk/return profile is as …
You're correct that the management completed clawing back its fees. From the annual report:For the year ended April 30, 2021, the Investment Manager has fully recovered all of its previously waived fees totaling $401,308. For a period not to excee…
CTFAX is an example of a fund that tacks a management fee (0.10%) on top of its expenses including its acquired fund expenses (0.40%). It has put a temporary cap of 0.50% on fees excluding the acquired fund fees. When you add back the acquired…
Regarding the 1.85% fee - there's actually a cap in place of 1.45%. But this excludes the cost of acquired funds (0.57%). That's enough to drop the remaining expenses below the cap which in turn allows the fund to claw back previously waived fee…
Hard to tell if Carillon Tower has anything strategic in mind. It acquired Scout Funds (including its subsidiary Reams) in 2017 and left the management in place. But it used those funds as acquiring funds to merge two non-Scout funds into oblivi…
For context, the source of the figures is Morningstar. See, e.g.
https://www.morningstar.com/articles/1072421/existing-trends-in-us-fund-flows-hold-in-november
As Vanguard's total AUM of $7.2B is significantly more than the total AUM of iShares,…
@yogibearbull - Thanks for the update. You're right of course that most of the money has been flowing into index funds.
It has gotten much harder for active funds to compete with index funds. That's especially true in the larger cap space whe…
I have a friend who owned a condo (not a co-op) in Ocean Grove - a town where the land is owned by the Ocean Grove Camp Meeting Association of the United Methodist Church.
https://www.charitynavigator.org/ein/210652120
Leases there are typically fo…
too many! All VG active funds (33% of VG business) have outside advisors
Could you source this figure? Vanguard suggests a much lower percentage for its whole business. $1.6T/$7.2T = 22%.
Few people realize we’re among the world’s largest active…
I was sure Chartwell sounded familiar. Finally found the thread. Chartwell grew its fund business by acquiring Berwyn funds in 2016. It appears that prior to that it had been offering only two funds itself, though it was managing portions of tw…
Actually, and as noted in the SEC proposal, "Government funds are [currently] permitted, but not required, to impose fees and gates." So technically some parts of the SEC proposal have scope beyond prime & muni m-mkt funds.
Pragmatically, …
TRP told me that they will convert all eligible accounts to institutional class shares in January, but that upon request they will do the conversion now.
There 'Sales Charge' is $35 compared to Fido's $49.95 so that's better.
As I understand it, that's $35 to buy or to sell, as opposed to Fidelity's fees, which range from a high of $75 (to buy shares of Vanguard, Schwab, and D&C funds), to $49.…
What I experienced was exasperating and not well handled, but it was the exception.
So long as transactions have been ordinary and haven't deviated one iota from the norm, I've not had problems. But once one introduces even the slightest varia…
Brokerages do not seem to designate Rolledover Roths as such. All the brokerages I know just have Roth IRA but no Rollover Roth IRA and Roth 401(k) funds are rolled over to a Roth IRA account. Why is there this distinction between Traditional vs …
and you do have to file a separate partnership tax return on March 15 that is hard
Single member LLCs may be treated as "disregarded entities" by the IRS; they have no partnership tax returns to file.
https://www.irs.gov/businesses/small-businesses…
As we're looking at protection given to rollovers by the BAPCPA, we're talking about bankruptcy proceedings. Some retirement assets (employer plans, money rolled into IRAs, another $1.36+M in IRAs) are protected, but this money becomes fair game i…
Generally speaking, umbrella policies don't cover health care.
Umbrella insurance doesn’t cover your own injuries or property damage — you’ll need other types of coverage for that (such as health insurance or collision coverage on your auto insur…
Disregarding state law protections, IRAs of every ilk including conduit IRAs have less protection than employer plans.
Employer plans are usually covered under an anti-alienation rule that prohibits them from turning moneys over to creditors or p…
I thought that TRP and Vanguard were finally done with this simple(?) transfer. Surprise! Yesterday Vanguard submitted a couple more transactions without notifying me. On the bright side, what Vanguard did was finally clean up things correctly.
…
TRP rejected a purchase of a closed fund using cash from outside. As far as TRP was concerned, that cash could have been coming from a bank, from a fund company, or from Alpha Centauri. It shouldn't matter. Cash is cash, and that is what they …
This is about converting an existing account at an institution to a brokerage account at the same institution. Was that your experience, or did you transfer assets to an account at a different institution? In reality, all that transfers between …
I have joined carew338 in abandoning Vanguard for anything other than their funds that are unique are Admiral class or that I have a large capital gain in.
Why not transfer the non-Vanguard holdings in kind to another brokerage?
It's cheaper to…
Most Medicare Part B participants pay a premium that covers 25% of the actual cost of the coverage. (The government picks up the rest, using general tax revenue.) In 2021, that 25% comes to $148.50/mo, or $1782/year.
If one's MAGI¹ (AGI from lin…
I feel that longevity insurance is one of the few useful products that the financial industry has created in the past several years. That said, if it's not a product that you are interested in independent of tax considerations, then buying a QLAC i…
The question can be split into two parts:
1. Best time during a given year
2. Best year
1. In theory, the best time within a year to convert is when your T-IRA portfolio is at its nadir. Which is great if you can see into the future.
Pragm…
Tickers for the affected funds (R6, the lowest cost share class, is given since that should be closest to post-conversion ETF):
•JPMorgan Inflation Managed Bond Fund JIMMX
•JPMorgan International Research Enhanced Equity Fund JEIQX
•JPMorgan Market…
@hank - Aside from a minor nit, I agree with you. Though a fund that's 94% long and 6% short is net 88% long. TSMRX (equity) is 31.74% long, 37.54% short, for a small net negative position of -5.80%.
What you wrote about the quality of bonds be…
Apparently I didn't communicate well. I was trying to point out that one can't infer much from percentages of long and short, let alone net allocation percentages, for much but vanilla funds.
So in observing that BAMBX was 165/65, which superfici…
I'm inclined to agree with @Baseball_Fan that multi-strategy funds are generally a bunch of spaghetti.
Even if one does understand how each alternative strategy tends to work in isolation and even if one does understand how they interact, IMHO t…
SWAN sounds like it's basically a principal protected note (PPN). Don't have time now to find a good reference for how they're constructed. Such a reference will help provide a better understanding of how these work.
Note that the options don't p…
I could just repeat what I said in a nearby thread on BAMBX (LINK).
Tips on linking:
One can link to a specific post by copying the link from the date on that post; your post is:
https://www.mutualfundobserver.com/discuss/discussion/comment/1432…
Alerian Energy Infrastructure (ENFR)? Hard to think of a $62M ETF that's focused on just a slice of infrastructure (energy MLPs) as a main ETF.
Investopedia's piece seems a bit confused on some details. Its title says that it is about the the …
The ICI has a somewhat provincial perspective when it comes to fund history. Though its fund timeline does start with Adriaan van Ketwich's 1774 pooled investment vehicle the Eendragt Maakt Magt ("unity creates strength") trust, the ICI can't seem…
msf How difficult is your econ class? I thought about majoring in economics, but my background in calculus was weak. Majored in Accounting instead so I could get a job after graduation.
Hard question to answer - I find the econ classes very straight…
Thanks. I've fixed the link.
When one changes the font in a link (as I did to acknowledge that this is an opinion piece, not a news story) one needs to insert the link explicitly. MFO doesn't handle it automatically. And I erred by strippi…
Here's a different take. The op ed writers agree that the decision is political. But they feel that the political calculation comes down to bipartisanship (Powell (R)) vs. greater regulation that would factor in climate change (Brainard (D)).
Th…
