related
5 Tools to Manage Your Money in Retirement
http://money.usnews.com/money/blogs/on-retirement/2015/02/17/5-tools-to-manage-your-money-in-retirement

MJG,
I appreciate your insightful post.
The funds I chose for the comparison were based on the fact that I have held two of them for nearly a decade and in combination with the others listed comprise many of the most widely held no-load moderate allocation/balanced funds. I used moderate allocation funds because that is the category that Mr. Burns was comparing his Couch Potato portfolio too without accounting for the difference in equity allocation among the funds in that category which generally ranges from 50-70%.
There are certainly many, many moderate allocation funds (probably a majority) that come up short verses the Couch Potato portfolio no matter their equity allocation. My main point was to show there are a number of actively managed moderate allocation funds that have both been around for many years and have consistently performed very well in comparison to the Couch Potato portfolio that utilizes low cost index funds.
For investors who desire a moderate allocation portfolio who do not desire to put in the effort to identify funds that have a history of doing better or are not available through workplace retirement plans, a couch potato portfolio is certainly a good option...not arguing that in the least bit.
Regards.

Roger and tnx. Being completely in retirement, I use GLRBX for that purpose, my needs-dip-protection bucket. Sometimes too a bit of AOR / AOM, free at ML. Am looking at FTBFX, BOND, and AOK for sooner moneys. Dislike holding lots of cash but it may come to that, as sizable (for me) 2% bond will be all done in a year and a half.

FYI "How many retirement holdings do I really need?" It's a question all retirement savers need to ask themselves at some point.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=684718&SR=Yahoo

@LLJB, I've been following Iben's new fund as well, and my test trades in my Fidelity retirement account have always shown that KGGAX has had a front-end load enforced (not LW) and that KGGIX has been available NL for a low minimum with a TF. And Fidelity's web site has been consistent with reality at least with these fund classes. I continue to have the highest respect for Fidelity's trading platform and their customer service.
Kevin

According to a test trade I just made, RAIIX appears to have a $500 minimum with an initial TF in Fidelity retirement accounts. In the past I have been willing to pay an initial TF because I typically buy a good chunk at one time.

http://www.sec.gov/Archives/edgar/data/1251896/000089418915000721/aegis_497e.htm
497 1 aegis_497e.htm SUPPLEMENTARY MATERIALS
AEGIS HIGH YIELD FUND
Class A (Ticker: AHYAX)
Class I (Ticker: AHYFX)
Supplement dated February 9, 2015
to the Summary and Statutory Prospectuses dated April 30, 2014
The Board of Trustees of The Aegis Funds (the “Trust”) has concluded that it is in the best interests of the Aegis High Yield Fund (the “Fund”) and its shareholders to cease Fund operations and wind down the Fund. At a meeting held on February 9, 2015, the Board of Trustees approved the closure of the Fund to all purchases, including purchases related to reinvestment of Fund distributions. The Board of Trustees has determined to close the Fund on or before April 30, 2015.
The Fund has been in a defensive position since December 17, 2014, and intends to remain in this position until the Fund is closed to facilitate anticipated redemptions. The Fund’s total net assets, which as of February 6, 2015 were approximately $16.8 million, are expected to decrease through the date of closing. Aegis Financial Corporation (the “Advisor”) has informed the Board of Trustees that it does not plan to extend the Fund’s current expense limitation agreement, pursuant to which the Fund’s “Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement” (not including Acquired Fund Fees and Expenses) are limited to 1.20% of the Class I shares’ average daily net assets and 1.45% of the Class A shares’ average daily net assets, past its current term, which expires April 30, 2015. As a result, after that date the Fund’s “Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement” (not including Acquired Fund Fees and Expenses) will increase.
Shareholders of the Fund may redeem their shares in accordance with the “How to Redeem Shares” section of the Prospectus. Redemption fees and contingent deferred sales charges (CDSC) will not be charged on shares redeemed beginning after market close on February 9, 2015. Unless a shareholder’s investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Consequences of an Investment” section in the Prospectus for general information. You may find it advisable to consult your tax advisor about your particular situation, including the effects of a redemption of shares held through a tax-deferred retirement account.
If you have any questions or need assistance, please contact your financial intermediary or contact the Fund at 800-528-3780.
* * *
YOU SHOULD RETAIN THIS SUPPLEMENT WITH YOUR
SUMMARY PROSPECTUS AND PROSPECTUS FOR FUTURE REFERENCE.

Hank,I got started late with Roths, I always used IRAs for income reduction in my high income years, later I realized Roths could be an annual source of income in retirement, without taxes...now playing catch up best I can, even doing some conversions, while staying in same low tax brackets,
Bonds have been a cash substitute for me while they continue to bring in earnings, also I keep funds open in all my various accounts for easy movement of cash, from equity sales. drags total returns slightly, but necessary evil/convenience

vfinx of vanguard charges 0.17% ( and 0.05% is for the admiral acct). Prudential retirement: Dryden s&p 500 also charges 0.17% in my 401k acct.

Direct link: http://online.barrons.com/article/fund_of_information.html. Annuities? No, thanks. The death of defined-benefit retirement plans is a piece of the bigger picture of society's race to the bottom, when it comes to the welfare of the worker. In other words: screw the worker. Give the CEO an obscene bonus. And increase the pay-out for shareholders. And needless to say, that dividend is for shares in a company the average worker can't afford to buy-into.

what are your thoughts for this fund now? Just a satellite holding in IRA in retirement bond portfolio.

Thank you, Ted. It would be more productive getting those off-shore accounts than average citizens who are saving responsibly for their retirement.

I like the way you think LLJB. I'm a young (mid-20s) investor and obviously have a long way to go until retirement so I am investing with a long-long-term investment horizon, something I think many investors struggle to do... For this reason, I definitely have a bias towards the smaller end of the market cap spectrum and emerging (frontier included) markets. In addition, I think too many focus on short-term bumps and volatility. I use these as times to add to positions where I believe the long-term potential is there.

...All of those "A" shares. A 401k is a retirement vehicle and so there should be no loads. If you're not getting an "LW" (load-waived") version of these funds, steer clear. Listen to "fundalarm" here. I don't know how employers can get away with this sort of thing.

FYI: Target-date retirement funds can offer a winning strategy for investors who prefer to turn portfolio management over to professional money managers.
Target-date retirement funds start out with relatively aggressive asset weightings in U.S. and foreign stocks, and gradually shift to more fixed-income investments as the target date nears
Regards,
Ted
http://license.icopyright.net/user/viewFreeUse.act?fuid=MTg5MDUyNjU=
Enlarged Graphic:
http://news.investors.com/photopopup.aspx?path=webLV012915.png&docId=736880&xmpSource=&width=1000&height=1116&caption=&id=736798

http://www.sec.gov/Archives/edgar/data/1577406/000089418915000367/loeb_497e.htm
LOEB KING ALTERNATIVE STRATEGIES FUND
LOEB KING ASIA FUND
each a series of Loeb King Trust
(together, the “Funds”)
January 27, 2015
Supplement to the
Summary Prospectus, Prospectus and Statement of Additional Information (“SAI”)
each dated December 19, 2014, as supplemented January 13, 2015
The Board of Trustees (the “Board”) of Loeb King Trust (the “Trust”) has adopted a plan to close and liquidate the Funds. Acting on a recommendation from Carl M. Loeb Advisory Partners L.P., the Funds’ investment adviser (the “Adviser”), the Board concluded that it would be in the best interests of each Fund and its shareholders that the Funds be closed and liquidated as series of the Trust. The Funds are expected to be closed and liquidated on February 25, 2015 (the “Liquidation Date”).
Prior to the respective Fund’s Liquidation Date, you may redeem your shares, including reinvested distributions, in accordance with the Funds’ Prospectus. As is the case with any redemption of Fund shares, redemption proceeds will generally be subject to federal and, as applicable, state and local income taxes if the redeemed shares are held in a taxable account and the liquidation proceeds exceed your adjusted basis in the shares redeemed. If the redeemed shares are held in a qualified retirement account, such as an IRA or 401(k), the liquidation proceeds may not be subject to current income taxation under certain conditions. You should consult with your tax advisor for further information regarding the federal, state and/or local income tax consequences of this liquidation that are relevant to your specific situation. Please refer to the “Distributions and Taxes” section in the Prospectus for general information.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF A FUND PRIOR TO THE FUND’S LIQUIDATION DATE WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS, SUBJECT TO ANY REQUIRED WITHHOLDINGS, WILL BE SENT TO THE ADDRESS OF RECORD. IF YOU HAVE QUESTIONS OR NEED ASSISTANCE, PLEASE CONTACT YOUR FINANCIAL ADVISOR DIRECTLY OR THE FUNDS AT 1-855-722-4550.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodial Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
Please retain this Supplement with your Summary Prospectus, Prospectus and SAI.

It seems to me that one of the main problems with this type of discussion is that some participants seem to classify fellow citizens as either "100% self-made men" (whether true or not) and "everyone else", who by definition are therefore no-good lazy scumbags. Interestingly, these folks invariably classify themselves as the 100% self-made type. The dictionary defines "selfish" as: "lacking consideration for others; concerned chiefly with one's own personal profit or pleasure". I leave it to others as to whether that particular definition is appropriate to the type of individuals I've mentioned.
Perhaps my observations for the past 75 years are not typical, but it has been my experience that there many more than just two types of individuals; rather there is a very broad spectrum of people, with hugely varying degrees of human assets: inherited assets, mental ability, physical ability, and plain old luck. Sure there are no-good bums out there who have chosen not to contribute their fair share to their personal good, to say nothing of the common good. BUT I DO NOT FOR A MOMENT BELIEVE THAT THEY ARE THE MAJORITY of those who need some sort of assistance to allow them to survive.
To suggest that all it takes for anyone in America to succeed is a little hard work is totally fatuous. This concept of rugged individualism, wherein someone feels that they have absolutely no obligation to spend one tax dollar on anything that isn't a direct immediate personal benefit to them is, in my opinion, just plain sick. I say this as half of a married couple who have no children, but have cheerfully voted for over fifty-five years to support our public schools, common infrastructure, and where reasonable, public assistance to the less fortunate. Does that mean that there is no place for alternatives, such as charter schools? Not at all: depending on the effectiveness of the local school system, alternatives may be a very good thing.
Additionally, anyone who thinks that our younger people have the same advantages of relatively inexpensive higher education, employment and retirement stability that we older folks enjoyed is living on some other planet.
I'm under no illusion that this commentary will change one single mind, but at least some things have been said that needed saying.

Hi Wilmatt72
Thanks for the question. I learned a lot too, especially from Rono's explaination of why these things run in cycles. Best I've heard.
One additional observation: You'll find some of these funds with significant holdings in trailor parks and self-storage facilities. Reason? Current income and, more importantly, appreciation of the underlying land.
Regards

ESL (Equity Lifestyle Properties) is a REIT that focuses on RV parks, resort/retirement communities and the like. It's not terribly exciting on the surface (although RVs have become big again, it seems.) However, it sits on a ton of waterfront/near water land.

Hi David.
I love you man.
I agree.
15 years is about the most we can hope for with single manager.
But I do not know for sure...our database does not account for category drift...or, manager drift, sad to say...past performance, numbers only.
Here are some of the 10 year funds with top-quintile risk-adjusted performance across the past 10, 5, 3, and even 1 year evaluation periods through Dec 2014. (I left off most of the sector funds and munis.)
Access Capital Community Investment I (ACCSX)
American Century Mid Cap Value Inv (ACMVX)
AMG Chicago Equity Partners Bal Instl (MBEYX)
Artisan International Value Investor (ARTKX)
Buffalo Discovery (BUFTX)
First Trust Value Line Dividend ETF (FVD)
GE Instl Premier Growth Equity Inv (GEIPX)
Guinness Atkinson Global Innovators (IWIRX)
Hennessy Equity and Income Institutional (HEIIX)
Homestead Small Company Stock (HSCSX)
iShares Morningstar Large-Cap (JKD)
iShares S&P 500 Growth (IVW)
JPMorgan Mid Cap Value Instl (FLMVX)
Metropolitan West Total Return Bond M (MWTRX)
PIMCO Intl StksPLUS AR Strat (USD-Hg) A (PIPAX)
PIMCO StocksPLUS Absolute Return Instl (PSPTX)
Pinnacle Value (PVFIX)
Principal MidCap R2 (PMBNX)
RidgeWorth Conservative Allc Strat I (SCCTX)
SEI Moderate Strategy Allc A (SAAT) (SXMAX)
SEI US Managed Volatility A (SIMT) (SVOAX)
Shelton Nasdaq-100 Index Direct (NASDX)
T. Rowe Price Diversified Sm Cap Growth (PRDSX)
T. Rowe Price Global Technology (PRGTX)
T. Rowe Price Instl Mid-Cap Equity Gr (PMEGX)
T. Rowe Price Instl Small-Cap Stock (TRSSX)
Vanguard Target Retirement 2015 Inv (VTXVX)
Vanguard Target Retirement 2045 Inv (VTIVX)

Think you should be more concerned if a fund changed Managers, and no longer performed as before, little concern if a new manager takes over and continues with past successful performance, something going right with these funds long term and multiple managers not an issue...
example: check Vanguard Healthcare..... stronger than ever after long time manager retirement, past assistant even better as current manager... ..go Jeanie baby....