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Strategies & Market Trends : PBHG Funds

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To: Jeff Carolla who wrote (8)6/23/1996 8:08:00 PM
From: Michael W. Brom   of 268
 
Jeff:

Welcome to the PBHG family! I have been in Emerging Growth for over a year now. Obviously, I am very pleased with the funds performance. My only disappoinment was in their decision to reopen the fund (no offense intended). Closed funds are more attractive to me because the fund manager doesn't have to worry about investing a large influx of cash on short notice. If that influx of cash is not immediately invested, it hurts the performance of the fund, BUT, if it is invested very quickly without doing the normal research that the manager usually is able to do, then it could result in a bad stock which also hinders performance. I am glad that you were able to get into the fund, though. It will be a volatile ride but also extremely rewarding. Just look at the performance of the PBHG Growth fund for the past 10 years. That may not be duplicated, but I figure that a 15% annual return is reasonable. Are you going to invest in their new Limited fund? Great opportunity if you asked me! You can begin transfering assets on June 26th. It will close @$100 M. Better hurry!

Michael W. Brom
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