4 / 5 Stars
4 4 3 4 3
Zacks Investment Research
5 (Strong Sell)
Standard & Poor's
3 / 5 Stars
#85 in Mid-Cap Growth
U.S. News evaluated 222 Mid-Cap 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 24.88 percent over the past year, 13.77 percent over the past three years, 22.15 percent over the past five years, and 9.53 percent over the past decade.
|Trailing Returns||Updated 01.31.2014|
|Year to date||-4.3%|
|3 Years (Annualized)||13.8%|
|5 Years (Annualized)||22.2%|
|10 Years (Annualized)||9.5%|
Tributary Growth Opportunities has been excelling this year.
As of February 05, 2014, the fund has assets totaling almost $164.20 million invested in 77 different holdings. Its portfolio consists of shares of companies that span the market capitalization spectrum.
This year's market has been quite difficult to navigate. But it appears that someone forgot to tell that to this fund's management team. Year-to-date through June 24, the fund had returned upwards of 9 percent. The broader market's returns, by comparison, hovered under 2 percent. The fund is also significantly outperforming its peers in Morningstar's mid-cap growth category this year. Relative to its peers, the fund doesn't make many sector bets. That means its superior performance stems primarily from stock picking. In particular, Valeant Pharmaceuticals International and Biogen Idec have been strong contributors to the fund's performance this year. The fund has returned 24.88 percent over the past year and 13.77 percent over the past three years.
The fund has some socially responsible characteristics. According to its prospectus: "The Fund will not invest in companies that, pursuant to the investment adviser's screening process, have an active business tie to Iran, Syria, Sudan or North Korea, all of which are U.S. State Department-designated terrorist sponsoring states, with the exception of companies whose activities in one or more of these counties are solely humanitarian. The Fund also will not invest in companies that produce tobacco or tobacco products that have been found to pose a clear risk to human health." While technically a mid-cap growth product, the fund also has significant exposure to large-cap and small-cap names. Meanwhile, management spreads the fund's assets across a large number of companies, thereby reducing volatility. Despite a number of off years, this fund's long-term numbers are fairly impressive. The fund has returned 22.15 percent over the past five years and 9.53 percent over the past decade.
According to the fund's prospectus: "The investment adviser implements a core growth approach to the portfolio that targets companies with above average growth characteristics and below average valuations. The focus is on investing in companies with sustainable above average growth in sales, earnings, and intrinsic value. The investment adviser employs multiple diversification strategies to control risk and the Fund's holdings are diversified across the major economic sectors and by the number of company positions."
Role in Portfolio
This fund could lend support to a well-balanced portfolio.
David Jordan and Charles Lauber manage the fund.
Tributary Growth Opportunities Fund has an expense ratio of 1.15 percent.
Like all stock funds, this one comes with some risks.