3 / 5 Stars
4 4 4 1 1
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
4 / 5 Stars
#117 in Large Growth
U.S. News evaluated 466 Large Growth Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned 35.03 percent over the past year, 14.70 percent over the past three years, 22.80 percent over the past five years, and 7.82 percent over the past decade.
|Trailing Returns||Updated 02.28.2014|
|Year to date||3.9%|
|3 Years (Annualized)||14.7%|
|5 Years (Annualized)||22.8%|
|10 Years (Annualized)||7.8%|
Marsico Focus has, despite its compact portfolio, been a very steady performer.
As of March 05, 2014, the fund has assets totaling almost $917.50 million invested in 31 different holdings. Its portfolio consists primarily of shares of large companies.
Last year, this fund’s 18 percent return was enough to comfortably beat both the S&P 500 and the average for Morningstar’s large-growth category. In particular, the fund benefitted last year from its exposure to Apple and Baidu. Like many of its large-growth peers, this fund has a huge stake in Apple. As of the end of January, the company accounted for 7.5 percent of the fund’s portfolio. But apart from that, the fund’s exposure to tech companies is relatively limited. Instead, management has been finding opportunities in the financial services and industrial materials sectors through names like U.S. Bancorp, Goldman Sachs, Dow Chemical and Goodrich Corporation. The fund has returned 35.03 percent over the past year and 14.70 percent over the past three years.
This fund’s portfolio is quite compact. As of the end of January, management owned shares of just 28 companies. While concentrated strategies sometimes court added risk, this fund’s performance has traditionally been quite steady. Since 2001, the fund has only finished two years in the bottom half of its Morningstar category. The fund has returned 22.80 percent over the past five years and 7.82 percent over the past decade.
According to the fund’s prospectus: “In selecting investments for the Fund, the investment adviser uses an approach that combines ‘top-down’ macro-economic analysis with ‘bottom-up’ security selection. The ‘top-down’ approach may take into consideration macro-economic factors such as ... interest rates, inflation, monetary policy, demographics, the regulatory environment, and the global competitive landscape. Through this ‘top-down’ analysis, the investment adviser seeks to identify sectors, industries and companies that may benefit from the overall trends the investment adviser has observed. The investment adviser then looks for individual companies or securities ... that are expected to offer earnings growth potential that may not be recognized by the market at large.”
Role in Portfolio
Morningstar calls this fund a “core” holding.
Tom Marsico, along with two co-managers, runs the fund.
Marsico Focus Fund has an expense ratio of 1.35 percent.
Like all stock funds, this one comes with some risks.