Funds in Value Line’s Growth/Income objective group place equal emphasis on capital growth and current income, or growth of income, mainly through investments in common stocks. Although this balanced description may seem like a fine line of distinction from a fund that seeks capital appreciation with a secondary objective of income, or a fund that seeks income with a secondary objective of capital growth, it indicates an important difference. Funds in the Growth objective group and the Income objective group both have specific first-tier goals—Growth/Income funds, meanwhile, are, in some ways, the midpoint point between the other two.
Value Line’s Health objective group is a fairly small, yet surprisingly diverse, collection of mutual funds. Clearly, the funds in this category invest the vast majority of their assets in healthcare and related businesses. That said, there are a number of different variants within what would seem an otherwise narrow space. The two biggest areas of differentiation are biotechnology and general healthcare funds.
Value Line’s International Bond objective group is a very broad grouping of funds. The funds in this category invest in foreign and U.S. bonds or exclusively in foreign fixed-income securities in pursuit of current income. Clearly this allows for the inclusion of funds like Aberdeen Asia Bond Fund (CSABX), which focuses just on one geographic region, RiverSource Emerging Markets Bond A (REBAX), which looks at countries at a particular stage of economic development, and T. Rowe Price International Bond Fund (RPIBX), which can invest pretty much anywhere.
Value Line’s Precious Metals objective group consists of funds with the stated policy of investing at least 50% of their assets in gold and/or precious metals stocks or bullion. In reality, most of the funds in this group place well over 50% of their assets in the above groups. That said, there tend to be two types of funds here, those that invest almost exclusively in gold and those that invest more broadly in precious metals (though, in reality, even these funds will have material exposure to gold and gold stocks). There is also a small collection of funds that offer “inverse” performance to the price of gold.
Value Line’s Aggressive Growth objective group is, by design, fairly broad based. It is meant to house any equity fund that invests predominantly in higher-risk common stocks or that has a stated policy of maximum growth without regard to income or time horizons. The names of the funds in this group don’t normally have the word aggressive in them, though some do. One overriding feature, however, is the level of risk that managers here are willing to accept. Very often, the funds in this objective group have concentrated portfolios.
The Value Line Convertibles objective group covers mutual funds that invest the majority of their assets in an unusual and relatively obscure asset class—convertible bonds and convertible preferred stocks. Indeed, convertibles are a mixture of a bond (or a preferred stock) and a warrant to purchase stock in the issuing company. This creates a hybrid security with bond-like features and equity-like features.
Listed below are 15 of the largest funds in our 19,000+ Mutual Fund database. Their total assets account for about 10% of the assets of all the funds we follow. As such, many investors are affected by how these funds perform. While their one-year returns are sharply higher than their five-year returns, the past three months ending June 30, 2010 show an almost uniform weakness. Are we in a new market correction or is this a pause in a stock recovery? Surely, the debt crisis in Europe and worries of slower growth in Asia provided reasons for investors to sell.
Value Line’s Corporate High Yield objective group is made up of mutual funds that invest in lower-rated corporate bonds in pursuit of high current income. These bonds are often referred to as “junk,” though that name’s implications are, overall, more negative than this segment of the market deserves. Below-investment grade is another term often associated with these types of bonds. Many funds here, such as BlackRock High Income Fund (MDHIX), have a secondary objective of capital appreciation.
Value Line’s Diversified Bond objective group consists of funds that invest in a mix of corporate and government fixed-income securities in pursuit of current income. The definition is broad by design, as it is meant to include bond funds that, effectively, can go anywhere in the fixed-income space. Thus, the funds in this category span the spectrum from the likes of the religiously driven Ave Maria Bond (AVEFX) to the more traditional Fidelity Total Bond Fund (FTBFX).
Value Line’s Energy/Natural Resources objective group contains funds that have a stated policy of investing at least 50% of their assets in energy and/or natural resource-related companies. Generally speaking, most funds in this group will have substantially more than half of their assets in companies involved with such things as oil and natural gas, energy services (such as oil and gas drilling), chemicals, and forest products. Note that this group does not include funds that invest in utilities, which could be confused with the term energy, or in precious metals funds, which one might consider a natural resource.
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Mutual Fund Screen: Top-Performing Growth & Income Funds for 2010
Funds in Value Line’s Growth/Income objective group place equal emphasis on capital growth and current income, or growth of income, mainly through investments in common stocks. Although this balanced description may seem like a fine line of distinction from a fund that seeks capital appreciation with a secondary objective of income, or a fund that seeks income with a secondary objective of capital growth, it indicates an important difference. Funds in the Growth objective group and the Income objective group both have specific first-tier goals—Growth/Income funds, meanwhile, are, in some ways, the midpoint point between the other two.
Mutual Fund Screen: Top-Performing Health Funds Through July 31, 2010
Value Line’s Health objective group is a fairly small, yet surprisingly diverse, collection of mutual funds. Clearly, the funds in this category invest the vast majority of their assets in healthcare and related businesses. That said, there are a number of different variants within what would seem an otherwise narrow space. The two biggest areas of differentiation are biotechnology and general healthcare funds.
Mutual Fund Screen: Top-Performing International Bond Funds Through July 31, 2010
Value Line’s International Bond objective group is a very broad grouping of funds. The funds in this category invest in foreign and U.S. bonds or exclusively in foreign fixed-income securities in pursuit of current income. Clearly this allows for the inclusion of funds like Aberdeen Asia Bond Fund (CSABX), which focuses just on one geographic region, RiverSource Emerging Markets Bond A (REBAX), which looks at countries at a particular stage of economic development, and T. Rowe Price International Bond Fund (RPIBX), which can invest pretty much anywhere.
Mutual Fund Screen: Top-Performing Precious Metals Funds Through June 30, 2010
Value Line’s Precious Metals objective group consists of funds with the stated policy of investing at least 50% of their assets in gold and/or precious metals stocks or bullion. In reality, most of the funds in this group place well over 50% of their assets in the above groups. That said, there tend to be two types of funds here, those that invest almost exclusively in gold and those that invest more broadly in precious metals (though, in reality, even these funds will have material exposure to gold and gold stocks). There is also a small collection of funds that offer “inverse” performance to the price of gold.
Mutual Fund Screen: Top-Performing Aggressive Growth Funds Through June 30, 2010
Value Line’s Aggressive Growth objective group is, by design, fairly broad based. It is meant to house any equity fund that invests predominantly in higher-risk common stocks or that has a stated policy of maximum growth without regard to income or time horizons. The names of the funds in this group don’t normally have the word aggressive in them, though some do. One overriding feature, however, is the level of risk that managers here are willing to accept. Very often, the funds in this objective group have concentrated portfolios.
Mutual Fund Screen: Top-Performing Convertible Funds Through June 30, 2010
The Value Line Convertibles objective group covers mutual funds that invest the majority of their assets in an unusual and relatively obscure asset class—convertible bonds and convertible preferred stocks. Indeed, convertibles are a mixture of a bond (or a preferred stock) and a warrant to purchase stock in the issuing company. This creates a hybrid security with bond-like features and equity-like features.
Quarterly Fund Review - Second Quarter 2010
Listed below are 15 of the largest funds in our 19,000+ Mutual Fund database. Their total assets account for about 10% of the assets of all the funds we follow. As such, many investors are affected by how these funds perform. While their one-year returns are sharply higher than their five-year returns, the past three months ending June 30, 2010 show an almost uniform weakness. Are we in a new market correction or is this a pause in a stock recovery? Surely, the debt crisis in Europe and worries of slower growth in Asia provided reasons for investors to sell.
Mutual Fund Screen: Top-Performing Corporate High-Yield Funds Through May 31, 2010
Value Line’s Corporate High Yield objective group is made up of mutual funds that invest in lower-rated corporate bonds in pursuit of high current income. These bonds are often referred to as “junk,” though that name’s implications are, overall, more negative than this segment of the market deserves. Below-investment grade is another term often associated with these types of bonds. Many funds here, such as BlackRock High Income Fund (MDHIX), have a secondary objective of capital appreciation.
Mutual Fund Screen: Top-Performing Diversified Bond Funds Through May 31, 2010
Value Line’s Diversified Bond objective group consists of funds that invest in a mix of corporate and government fixed-income securities in pursuit of current income. The definition is broad by design, as it is meant to include bond funds that, effectively, can go anywhere in the fixed-income space. Thus, the funds in this category span the spectrum from the likes of the religiously driven Ave Maria Bond (AVEFX) to the more traditional Fidelity Total Bond Fund (FTBFX).
Mutual Fund Screen: Top Performing Energy and Natural Resources Funds through May 31, 2010
Value Line’s Energy/Natural Resources objective group contains funds that have a stated policy of investing at least 50% of their assets in energy and/or natural resource-related companies. Generally speaking, most funds in this group will have substantially more than half of their assets in companies involved with such things as oil and natural gas, energy services (such as oil and gas drilling), chemicals, and forest products. Note that this group does not include funds that invest in utilities, which could be confused with the term energy, or in precious metals funds, which one might consider a natural resource.