Neil--An interesting observation--ENZN as you know is one of my personal fav's.--All the more reason, right?<VBG>
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Nelson's Ranks Martin Capital [AMD-news][AMAT-news][CSCO-news][ENZN-news]
MOT.N>[ORCL-news]
Nelson's Ranks Martin Capital Advisors' 5-Year U.S. Equity (All Styles) Performance in Top 2% AUSTIN, Texas, June 7 /PRNewswire/ -- Nelson's "World's Best Money Managers" (http://www.nelnet.com/home.htm ) once again validated the low- turnover Martin Capital Advisors flexible-portfolio investment strategy, ranking it in the top 2% in the U.S. Equity (All Styles) category for five years ending 3/31/00. Within its U.S. Large-cap Equity category, Nelson's, an authority on money managers, ranked Martin Capital Advisors' flexible portfolios in the top 3% for 1 quarter, top 4% for 1 year, top 2% for 3 years and top 2% for 5 years, ending 3/31/00. Continuing this broad-based performance, Martin Capital's flexible portfolios ranked in the top 5% of Nelson's U.S. Growth Equity category for 5 years ending 3/31/00. "We attribute our consistent performance to low turnover in a carefully selected portfolio of large- and mid-cap growth stocks. We buy well and hold. We see the market as it is, not as we'd like it to be, and then act decisively," said portfolio manager Paul Martin. "We're in a strong bull market and are fully invested; if the market sees further declines before resuming its climb, we will use leverage to buy bargains." Martin Capital Advisors' flexible portfolios (http://www.martincapital.com/portfolio.htm) returned 58.2 percent in 1999 and 78.8 percent in 1998. These portfolios averaged an annual return of 45.9 percent over the last five years (1/1/95 to 12/31/99) and 32.5 percent since their January 1991 inception. * Among flexible portfolio holdings are Advanced Micro Devices [AMD-news], Applied Materials [AMAT-news], Cisco [CSCO-news], Enzon [ENZN-news], Motorola [MOT-news], and Oracle [ORCL-news]. Martin Capital's buy-and- hold strategy has resulted in a low per-share cost basis. As of March 31, 2000, the firm's average cost basis per share of Advanced Micro Devices was $23.84; Applied Materials was $9.52; Cisco, $6.44; Enzon, $4.14; and Oracle, $8.44. Low turnover translates into lower investor tax burdens, too. The flexible portfolio's tax efficiency as of March 31 was 99.5%. (Tax efficiency is the percent of pretax gains retained after the payment of taxes.) Martin Capital Advisors is a registered investment advisor managing approximately $100 million in both private and institutional portfolios. In addition to its private and institutional portfolios, Martin Capital manages the no-load Austin Opportunity and U.S. Opportunity Funds and a private equity investment fund. Martin Capital Advisors, LLP, is located at 816 Congress Ave., Ste 1540, Austin, TX 78701. Contact Jeff Phillips (jeff@martincapital.com) or toll-free, 1-877-477-7036 ext. 104. *Results audited 1991 through 1999 by Carpenter and Langford, P.C., Certified Public Accountants. Total Annual Performance, net of commissions, fees and expenses, of all Martin Capital Advisors flexible investment portfolios. Total compounded return, including reinvestment of dividends and interest. 1991-1999 annualized return. SOURCE Martin Capital Advisors -0- 06/07/2000 /CONTACT: Jeff Phillips of Martin Capital Advisors, 877-477-7036 ext. 104, or jeff@martincapital.com/ /Web site: martincapital.com nelnet.com martincapital.com /
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