2 / 5 Stars
3 2 3 3 4
Zacks Investment Research
Standard & Poor's
4 / 5 Stars
#203 in Large Growth
U.S. News evaluated 485 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 27.44 percent over the past year, 14.97 percent over the past three years, 7.28 percent over the past five years, and 5.93 percent over the past decade.
|Trailing Returns||Updated 05.31.2013|
|Year to date||13.3%|
|3 Years (Annualized)||15.0%|
|5 Years (Annualized)||7.3%|
|10 Years (Annualized)||5.9%|
For investors in White Oak Select Growth, there's rarely a dull moment.
As of June 05, 2013, the fund has assets totaling almost $245.64 million invested in 26 different holdings. Its portfolio consists primarily of shares of large companies.
Investors in this concentrated fund have been on a roller-coaster ride. As of the end of 2010, the fund owned shares of just 25 companies. On the bright side, that means that management only invests in its favorite, highest-conviction picks. But the volatility that comes with such a strategy is substantial. Notably, this fund is prone to either tremendous or terrible years. For better or worse, investors will rarely see returns that more or less mimic the broader market. When management's top choices do well, investors are handsomely rewarded. That's what happened in 2009, when the fund returned 57 percent. But if even one stock in this compact portfolio struggles, investors are sure to feel the pain in an acute fashion. Lately, management has been tweaking the portfolio in a number of small ways. For instance, management cut back on the number of Amazon shares it owns (even with the change, Amazon still represents upwards of 6 percent of the fund's portfolio) and added the gold producer Goldcorp to the fund's lineup. Apart from Amazon, other top holdings include ACE Limited and Cognizant Technology Solutions. By sector, management has been liking telecommunications, healthcare, and financial services picks. The fund has returned 27.44 percent over the past year and 14.97 percent over the past three years.
Historically, this fund has had its fair share of ups and downs. The fund's strategy, which focuses on sector bets and concentrated positions, has led to mixed results. Overall, though, the good years haven't been enough to compensate for the bad ones. As of the end of 2010, the fund's trailing 10-year returns were 6 percentage points worse than those of the S&P 500. The fund has returned 7.28 percent over the past five years and 5.93 percent over the past decade.
According to the fund's prospectus: "In selecting investments for the Fund, the Adviser chooses stocks of companies which it believes have above average growth potential at attractive prices. The Adviser's investment process begins with a top-down analysis of industry sectors that it believes have the best potential for long-term growth based on an overall analysis of the economy and interest rate trends. It then focuses on the key performers in those areas based on a highly qualitative, subjective analysis of individual companies' fundamental values, such as earnings growth potential and the quality of corporate management."
Role in Portfolio
Morningstar calls the fund a "supporting player."
James Oelschlager manages the fund.
White Oak Select Growth Fund has an expense ratio of 1.16 percent.
Like all stock funds, this one comes with some risks.