Standard & Poor's today elevated 31 Large-cap value funds to its "Select" status -- those selected represent "superior, consistent returns and quality of management in their peer group over the past three years," according to S&P.
The list contains several of the largest and most well-known U.S. fund families including
Vanguard,
American Funds, and
Merrill Lynch.
"There are a number of smaller, lesser-known funds as well," said Philip Edwards, managing director at Standard & Poor's responsible for the Select Fund service. "There are seven funds in the list with total net assets of less than $500 million, including the assets of the additional share classes that did not qualify."
S&P identifies Select Funds through a number of screens. The first consists of quantitative analysis that assesses a fund's consistency of both absolute and risk-adjusted returns against its style peers over the past three years.
The top third qualify for the second stage, which involves face-to-face interviews with the fund management team. The managers themselves are evaluated, as is the depth and stability of the analytical resources available.
The value funds can be divided into three distinct categories of value: deep value, relative value and new value funds.
New value failed to generate any Select Funds as these funds often hold a significant amount of growth stocks which have, at any particular time, been temporarily beaten down. "We classify 'new value' funds either as growth or blend, depending on their overall characteristics," Edwards said.
|
S&P's Select List of Large-Cap Value |
|
Fund Name |
Ticker |
Fund Group |
|
AHA Inv: Diversified Equity Portfolio |
AHDEX |
AHA Investment
Funds |
|
Alliance Growth & Income A, B &
C/FONT> |
CABDX, CBBDX, CBBCX |
Alliance |
|
BB& T:Growth & Income Stock/A
&
Trust |
BBTGX,
BBISX |
BB& T |
|
BlackRock Large Cap Value/Institutional & Service Y |
PNVEX,
PNVSX |
BlackRock |
|
Davis New York Venture A, B & C |
NYVTX, NYVBX,
NYVCX |
Davis |
|
DLJ
Winthrop
Growth & Income A |
WFGIX |
DLJ |
|
Federated American Leaders
A,B,C & F
|
FALDX, FALBX, FALCX,
FALFX |
Federated American |
|
Federated Stock Trust |
FSTKX |
Federated |
|
Firstar
Stellar Relative Value A |
SRVFX |
Firstar |
|
Gabelli Westwood Equity/Retail & Service |
WESWX,
WEECX |
Gabelli |
|
Galaxy Growth & Income/Retail
A & Trust |
SGIEX,
SMGIX |
Galaxy |
| GE Funds: Value Equity A & B |
ITVAX,
ITVBX |
GE |
|
HighMark Value Momentum/Fiduciary
& Retail A |
HMVMX,
HMVLX |
HighMark |
|
ICAP Equity Portfolio |
ICAP |
ICAP |
|
Equity Portfolio |
ICAEX |
Equity |
| Investment Company of America |
AIVSX |
American |
| John Hancock Large Cap Value A &
B
|
TAGRX, TSGRX |
John Handcock |
| JP Morgan Institutional US Equity
A
|
JMUEX |
JP Morgan |
| JP Morgan US Equity Fund A
|
PPEQX |
JP Morgan |
| Kemper
Dreman High Return/ A, B, C &
I
|
KDHAX, KDHBX, KDHCX, KDHIX
|
Kemper |
| Merrill
Lynch Strategic Dividend A, B, C
& D shares
|
MADVX, MBDVX, MCDVX, MDDVX
|
Merrill Lynch |
| Pioneer
Equity Income A |
PEQIX |
Pioneer |
| Principal
Capital Value A
|
PCACX |
Principal |
| SEI Instl Managed Trust Large Cap Value
A
|
TRMVX |
SEI |
| Selected American Shares
|
SLASX |
Selected |
| T Rowe Price Value Fund |
TRVLX |
T Rowe Price |
| Torray Fund |
TORYX |
Torray |
| Van Kampen Comstock Fund A, B &
C
|
ACSTX, ACSWX, ACSYX |
Van Kampen |
| Vanguard Equity Income |
VEIPX |
Vanguard |
| Vanguard Windsor II |
VWNFX |
Vanguard |
| Victory Value |
SVLSX |
Victory |
| Washington Mutual Investors
Fund
|
AWSHX |
American |
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