Fairholme entered the Top category on MFO’s Fund Family Scorecard. All three Fairholme Funds have beaten their peer averages on an absolute return basis since inception. It joins other top performing families Dodge & Cox, FMI, Longleaf, Oakmark, Oberweis, Osterweis, Grandeur Peak, Gotham, Tweedy Brown, Artisan, Mairs and Powers, RiverNorth, PRIMECAP.
Yearly Archives: 2016
Dodge & Cox, Rookies, and Great Owls
Three Dodge & Cox funds … Dodge & Cox Balanced Fund (DODBX) Dodge & Cox Global Stock Fund (DODWX) Dodge & Cox Income Fund (DODIX) All on Honor Roll, which means they are top quintile in category the past 5, 3, and 1 year periods on an absolute return basis.
DODBX, FAIRX, and Vanguard
Dodge & Cox Balanced (DODBX) is back on the Honor Roll. The only D&C fund to do so. Fairholme Fund (FAIRX) remains on the Three Alarm list … still in the dog house. As is Sequoia Fund (SEQUX). Vanguard has 31 Great Owl funds! Can you believe that?! Fidelity has 23. T Rowe …
Surprise, Up 10% Plus Past Year
Three perennial GOs remain GOs this month along with Honor Roll distinction: Vanguard Wellesley Income (VWINX), Vanguard Wellington Balanced (VWELX), and Vanguard PRIMECAP (VPMCX). The past 12 months, they’ve each delivered top quintile excess returns. They are also among the highest AUM funds in their respective categories. So much for scale eating returns, in this …
Great Owl Ratings are Based on Relative Return in Category
GO distinctions are based on a fund’s relative risk-adjusted return within category. So, the category can perform badly, like commodities and EM have done last few years … indeed among the most hated funds, but individual funds can still get high marks.
3 Bottom Fund Families Each with $1B AUM
I continue to marvel at results of Fund Family Scorecard, which went live on the premium site last week. How do poor performing fund management companies persist? Could be that absolute return is not a concern, that it’s all about risk adjusted return. Could be that some of the funds did well initially, then …
A Couple Pre-Defined Screens
The March update comprises ratings on 9,296 US mutual funds and ETFs (27,307 all share classes), based on Lipper’s Data Feed Service. Looking through some of our Pre-Defined Screens … Among the Best Performing Rookies: AQR Equity Market Neutral R6 (QMNRX, Alternative Equity Market Neutral), NWM Momentum (MOMOX, Flexible Portfolio), 361 Global Long/Short …
Tough January and Bruce Berkowitz
It was a tough month for equity funds. Here’s quick summary table showing average fund total return for January, organized by SubType:
Year-end 2015 Category Summary
Below is a simple table summarizing performance for year, organized by SubType and Category … showing Peer Count and Total Return Averages. Results are computed from our Lipper database month ending December 2015, excludes money market funds. Funds at least one year old. Oldest share class only, includes max front load, if applicable. …