Berger's Portfolio Manager Recommends Growth Stocks
Dow Jones Newswires
November 23, 1998
NEW YORK -- The Berger Select Fund has returned 57% year-to-date by investing primarily in growth stocks, said Patrick Adams, its portfolio manager.
"The lowest we got for the year was up about 20%," Adams told CNBC Monday.
The Berger investment portfolio is weighted about 80% in growth stocks such as Cadence Design Systems (CDN), Ascend Communications Inc. (ASND), Tommy Hilfiger Corp. (TOM), Abercrombie & Fitch Co. (ANF) and Waste Management Inc. (WMI), Adams said.
The remaining 20% of the fund's investment portfolio is composed of "trading opportunities" like Sears, Roebuck & Co. (S) and the Kimberly-Clark Corp. (KMB), he added.
When selecting companies for the fund, Adams looks for reasonably priced stocks with good historical track records.
"Generally we buy the stock at or below its historical valuations," he said.
Adams sees the long-term growth rate of the Berger portfolio in excess of 20%.
"Currently the long-term growth rate is pushing 25% and the year-over-year growth in the portfolio is around 30% and the price to earnings ratio is a significant discount to the S&P 500," Adams said.
- Amy Hughes; 201-938-5171
|
