Best Mutual Funds

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Sep 17, 2009 11:10 am

We all manage different ways, so this will all be relative to how you manage your investments, but I wanted to start a thread on some of the best active funds out there that people use for their clients, so we can share ideas.  This list is not all inclusive for me, but tends to be some of my core holdings:

 
First Eagle Global
Mutual Discovery
PIMCO Total Return
Capital Income Builder
Blackrock Global
IVY Asset Strategy
Templeton Global Bond
Hartford Cap App
I used to use NFJ Small cap Value, but it closed
TIP (ETF)
 
Some others I am looking at, but have not used much yet:
Evergreen Asset Allocation
PIMCO All Asset All Authority
 
 
 
Sep 17, 2009 12:26 pm

Calamos Convertible

Blackrock Equity Dividend
AIM Mid Cap Core Equity
Thornburg International Value
Oppenheimer Developing Markets
Metropolitan West High Yield Bond
Oppenheimer Limited Term Municipal
John Hanc*** Balanced (100% of most accounts that I manage w/less than $20k in it)
 
There's the short list of some of the better ones we use
 
Sep 17, 2009 1:35 pm
iceco1d:

Vanguard.

 
Just kidding (not really, but you said active).
 
Something that comes in handy for me is the Goldman Short Duration Tax-Free fund.  For the right piece of money, I like it a lot.
 
For those of you doing any NQ money, and using mutual funds, it wouldn't hurt to take a look at the tax-managed equity funds from:

Goldman Sachs
Eaton-Vance
Russell
Fidelity Advisor
Vanguard
 
Hope that's helpful.
 
Actually, for NQ money, I don't use as many funds, but I tend to use a state-specific muni fund from either Nuveen or Franklin for reinvesting un-used muni-bond interest payments.  I have also been pleasantly surprised with some of Federated's tax-managed funds, although I don't use them all that much.
 
I cannot get my hands around Goldman.  I know they are smart people, but their mutual funds don't excite me at all.
Sep 17, 2009 1:37 pm

I don't do much MF business - actually almost none - but I do like:

 
The Russell Funds
Mutal Discovery
BULLX
NRO (personal investment REIT ETF) - this etf was beaten down seriously due to the real estate bubble, then the Lehman collapse (Neuberger Berman).  Once it was announced that NB employees were buying the firm, I got in pretty close to bottom (hopefully).
 
Sep 17, 2009 2:19 pm

I like hartford micap now that it has been reopened for that space.

Sep 17, 2009 3:10 pm
Wet_Blanket:

I don't do much MF business - actually almost none - but I do like:

 
The Russell Funds
Mutal Discovery
BULLX
NRO (personal investment REIT ETF) - this etf was beaten down seriously due to the real estate bubble, then the Lehman collapse (Neuberger Berman).  Once it was announced that NB employees were buying the firm, I got in pretty close to bottom (hopefully).
 
 
What kind of business do you do?
Sep 17, 2009 7:36 pm

Here's another question - everyone talks about how ridiculous and "rear view mirror-ish" it is to use Morningstar.

So whats your process for choosing funds?
 
Sep 17, 2009 7:39 pm

Best Mutual Fund... isn't that an oxymoron?

Sep 17, 2009 7:46 pm
VanKampen Equity and Income
Calamos Growth
Capital Income Builder
JPMorgan Balanced,Intermediate Tax Free, Core Bond
Franklin Insured Tax Free
 

Sep 17, 2009 7:48 pm

Obviously any account over 250k I use Morean Growth and Growth fund

Sep 17, 2009 7:50 pm
Sportsfreakbob:

Here's another question - everyone talks about how ridiculous and "rear view mirror-ish" it is to use Morningstar.

So whats your process for choosing funds?
 

Historical absolute returns, consistency of returns across mutliple investment cycles, strategy/record during bear markets, quality/tenure of manager, process, strategy, and ability to replicate process.  If you look back at my list of funds, most of them rank very high by those measures. 
 
 
Sep 17, 2009 7:52 pm

B24 - I have been all over Mutual Discovery since you reintroduced me to it a few months back, great stuff, thanks

Sep 17, 2009 9:09 pm

First of all I would never buy anything with Franklin except their Global Bond Fund..



Check out

Fairholme Fund

Permanent Portfolio

Sep 17, 2009 9:31 pm

You can use any criteria you want for selecting the "best" mutual funds but at the end of the day the asset allocation of whichever funds you use is far more important than finding the "best" funds.

Sep 17, 2009 10:05 pm
Squash1:

First of all I would never buy anything with Franklin except their Global Bond Fund..

 
Reasoning ?
 
 
 
Sep 17, 2009 10:06 pm
Jebediah:

You can use any criteria you want for selecting the "best" mutual funds but at the end of the day the asset allocation of whichever funds you use is far more important than finding the "best" funds.

 
I completely agree
Sep 17, 2009 10:24 pm
B24:
Sportsfreakbob:

Here's another question - everyone talks about how ridiculous and "rear view mirror-ish" it is to use Morningstar.

So whats your process for choosing funds?
 

Historical absolute returns, consistency of returns across mutliple investment cycles, strategy/record during bear markets, quality/tenure of manager, process, strategy, and ability to replicate process.  If you look back at my list of funds, most of them rank very high by those measures. 
 
 


Do you have any screening tools that you use to uncover funds with these chaacteristics?

Sep 17, 2009 10:39 pm

Jebediah is spot on. So for Short Bond, if i use a fund at all,  the Lord abbett is good with a current yield over 4 and duration under 2. Historical data mostly irrelevent, of course, but short duration will mean less drop as rates go up.

Sep 18, 2009 9:39 am
Sportsfreakbob:
B24:
Sportsfreakbob:

Here's another question - everyone talks about how ridiculous and "rear view mirror-ish" it is to use Morningstar.

So whats your process for choosing funds?
 

Historical absolute returns, consistency of returns across mutliple investment cycles, strategy/record during bear markets, quality/tenure of manager, process, strategy, and ability to replicate process.  If you look back at my list of funds, most of them rank very high by those measures. 
 
 


Do you have any screening tools that you use to uncover funds with these chaacteristics?

 
Time.  And lots of reading.  Returns are easy, it's everything else that takes time.  Typically what I do is get ideas from all over the place, and then research them.
Sep 18, 2009 9:44 am
Jebediah:

You can use any criteria you want for selecting the "best" mutual funds but at the end of the day the asset allocation of whichever funds you use is far more important than finding the "best" funds.

 
Agreed.  That is what a lot of these managers do.  IMHO, they are more about asset class selection rather than "picking the best stocks".  For some (i.e. Mutual Discovery), they are very defensive, and make good use of cash.  But you have to be aware of that.  They are rarely going to blow the doors off.  First Eagle makes great use of gold and a global theme.  IVY utilizes asset allocation, alternatives, currencies, etc.  PIMCO TR uses bonds, currencies, shorts, intl bonds, pretty much everything other than equities.
So you end up getting some of the best allocation strategies from some of the best managers out there.