MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 16, 1999 Large-Cap Value List Revealed 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.
"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.
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