Fundsters looking for value bets and steady returns may want to check out today's Wall Street Journal Fund Track
article, which profiles Kevin Toney
, portfolio manager of American Century Mid Cap Value Fund [see profile]
Toney reportedly looks for companies with problems that aren't deal breakers. For example: the fund's portfolio includes Republic Services Inc., a waste-management company whose stock, down about 0.6% year-to-date, has struggled because of concerns about its recent merger with Allied Waste.
He also likes cereral concern Kellogg Co., which had a June recall of some boxes of cereal that were emitting a nauseating smell related to a package liner.
senior mutual fund analyst Gregg Wolper
told the pub that investors can be content with the fund's smaller advances when the market rallies, given that losses during stock-market swoons are much less severe.
Year-to-date, the $1 billion fund is reportedly up 11.4 percent, outperforming the Standard & Poor's 500 stock index by two percentage points but underperforming its midcap-value category by about 3.2 points, according to Morningstar.
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