Post by israel21 on Sept 10, 2005 14:32:13 GMT -5
Mutual Funds - updated Sept 19, 2005
'The Honor Roll"
"Here are our storied ten best. And the reigning champ again is Calamos Growth, whose stock-picking prowess makes it the number one fund three years in a row.
----------------------------------UP Grade____Dwn Grade
FUND NAME For Up __ For Down
1. Calamos Growth Fund---------------A+__B------19%
2. Bruce Fund-----------------------------A___A+-----18%
3. Muhlenkamp Fund--------------------A___B-----16%
4. Mairs & Power Growth Fund--------C___A-----16%
5. Keeley Small Cap Value Fund------B___A-----15%
6. Stratton Small-Cap Value Fund----B___A-----14%
7. Third Avenue Value Fund------------B___B-----14%
8. Osterweis Fund-----------------------B___B-----15%
9. Delafield Fund-------------------------C___A+----15%
10. Weitz Partners Value Fund--------C___A-----14%
The criteria for making the Honor Roll are pretty tough. First we look at how well funds have performed over four market cycles, from Jan. 31, 1994 through the end of July 2005, using our letter grades. Funds have to earn a B grade or higher during down markets - and at least a C in up markets.
Next we want managers to have been on the job for no less than six years. Portfolio diversification is a prerequisite, which means really good sector funds like Samuel Lieber's Alpine U.S. Real Estate Equity aren't eligible for the Honor Roll. We also ban funds closed to new investors, like former Honor Roll member FPA Capital.
Then we examine long-term performance in dollar terms. We look at the hypothetical results after taxes and any sales commissions for an upper-income investor who deployed $10,000 on Jan. 31, 1994. Yes, we figure in the tax on distributed capital gains but not on the unrealized appreciation in the fund's shares. As of the end of July 2005 you would have at least quadrupled your money in any of these ten Honor Roll funds over that span of time. Now that's sexy."
'The Honor Roll"
"Here are our storied ten best. And the reigning champ again is Calamos Growth, whose stock-picking prowess makes it the number one fund three years in a row.
----------------------------------UP Grade____Dwn Grade
FUND NAME For Up __ For Down
1. Calamos Growth Fund---------------A+__B------19%
2. Bruce Fund-----------------------------A___A+-----18%
3. Muhlenkamp Fund--------------------A___B-----16%
4. Mairs & Power Growth Fund--------C___A-----16%
5. Keeley Small Cap Value Fund------B___A-----15%
6. Stratton Small-Cap Value Fund----B___A-----14%
7. Third Avenue Value Fund------------B___B-----14%
8. Osterweis Fund-----------------------B___B-----15%
9. Delafield Fund-------------------------C___A+----15%
10. Weitz Partners Value Fund--------C___A-----14%
The criteria for making the Honor Roll are pretty tough. First we look at how well funds have performed over four market cycles, from Jan. 31, 1994 through the end of July 2005, using our letter grades. Funds have to earn a B grade or higher during down markets - and at least a C in up markets.
Next we want managers to have been on the job for no less than six years. Portfolio diversification is a prerequisite, which means really good sector funds like Samuel Lieber's Alpine U.S. Real Estate Equity aren't eligible for the Honor Roll. We also ban funds closed to new investors, like former Honor Roll member FPA Capital.
Then we examine long-term performance in dollar terms. We look at the hypothetical results after taxes and any sales commissions for an upper-income investor who deployed $10,000 on Jan. 31, 1994. Yes, we figure in the tax on distributed capital gains but not on the unrealized appreciation in the fund's shares. As of the end of July 2005 you would have at least quadrupled your money in any of these ten Honor Roll funds over that span of time. Now that's sexy."