4 / 5 Stars
5 5 2 3 4
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
5 / 5 Stars
#2 in Small Value
U.S. News evaluated 113 Small Value 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 40.06 percent over the past year, 18.52 percent over the past three years, 10.98 percent over the past five years, and 10.93 percent over the past decade.
|Trailing Returns||Updated 05.31.2013|
|Year to date||20.1%|
|3 Years (Annualized)||18.5%|
|5 Years (Annualized)||11.0%|
|10 Years (Annualized)||10.9%|
Skyline Special Equities has been having a rough year.
As of June 05, 2013, the fund has assets totaling almost $316.72 million invested in 73 different holdings. Its portfolio consists primarily of shares of small and mid-sized companies.
As of the end of June, this fund had 37 percent of its portfolio stashed away in micro-cap companies. When the market takes a turn for the worse, these are often the types of businesses that are hit the hardest. That helps explain why in 2008, the fund shed a painful 40 percent. Another example of just how quickly this fund's fortunes can change came in early August. The fund, which was in the black as of the end of July, was down nearly 10 percent year-to-date by August 5th. Such swings are not entirely atypical for funds that focus on micro-cap stocks. Detractors from the fund's 2011 performance include Columbus McKinnon Corporation, a company whose market cap is under $300 million. By sector, the fund is heavily invested in financial services, industrials, technology, and consumer cyclical companies. The fund has returned 40.06 percent over the past year and 18.52 percent over the past three years.
Between 2004 and 2009, the fund finished every year in the top 35 percent or bottom 35 percent of its Morningstar category. These swings have more or less averaged out, and the fund's long-term numbers land it near the middle of the pack. Not even the fund's 2009 returns, which beat the average of its Morningstar peers by upwards of 20 percentage points, were enough to make the fund's long-term performance stand out for very long. The fund has returned 10.98 percent over the past five years and 10.93 percent over the past decade.
Management has a mixed value and growth philosophy. According to the fund's prospectus: "The Fund emphasizes investments in companies that have below average valuations and above average earnings growth prospects." Management employes a bottom-up approach.
Role in Portfolio
Morningstar calls the fund a "supporting player."
A team of three managers runs the fund.
Skyline Special Equities Portfolio has an expense ratio of 1.32 percent.
Like all stock funds, this one comes with some risks.