May 2008
3 posts
Class Z Follow Up
Originally posted at Cake Financial.
In a previous post, I mentioned that the Class Z shares of Mutual Discovery have an embedded premium to other classes. (More than what is reflected in the NAV.)
HOWEVER, the fund is carrying 22% cash. That is similar to other funds mentioned in a Wall Street Journal story on Tuesday called “The Bearish Strategy: Cash and Parry.” These include the...
2 tags
Target-Date Funds: Should You Ask One Out?
Originally posted at Cake Financial.
Nascent, but maturing, Target-Date Funds now demand more scrutiny. Both The Wall Street Journal and Barron’s gave these funds-of-funds, also called Lifecycle Funds, a once over this week without hitting on obvious faults and room for improvement.
According to ICI, assets in Target-Date Funds grew to $183 billion in 2007 from just $15 billion at the end...
The Class Z Premium
Originally posted at Cake Financial.
Last week I received the prospectus for Mutual Discovery, a much-lauded fund during the tenure of Michael Price, then David Winters.
The fund has 5 share classes, with front-loaded Class A shares comprising the bulk of the assets. I own Class Z shares, purchased on my behalf in 1996, which have been grandfathered in to significantly lower expenses than other...