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Rating:Large-Cap Value List Revealed Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, September 16, 1999

Large-Cap Value List Revealed

Reported by Hayley Green

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.

Related Links
  • Standard & Poor's
  • On MFWire.com
  • S&P's Latest List; Morningstar Plans Its Own
  • S&P Releases New Select Fund List
  • S&P's Newest Select Funds
  • 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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