Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Jenna who wrote (5389)	2/27/2001 11:04:38 AM
From: ColtonGang	Read Replies (1) of 6445

Morningstar.com ~ Franklin Small Cap Growth Sticks to Its Guns By Scott Berry Franklin Small Cap Growth (NA: FRSGX) hasn't abandoned the technology stocks that drove its performance in 1999, though a number of them have put a dent in the fund's recent returns. This fund owns large stakes in PMC Sierra (Nasdaq: PMCS - news), JDS Uniphase (Nasdaq: JDSU - news), and Veritas Software (Nasdaq: VRTS - news). All three delivered huge returns for the fund in 1999, gaining an average of more than 600%. However, they have not been immune to the downturn in technology stocks and have dropped an average of 50% over the last 12 months. Owing to such disappointments, the fund's returns over the 12-month period and for the year to date through February 23, 2001, land in the small-cap growth category's bottom half. Lead manager Ed Jamieson has stuck with them, however, arguing that they all have long-term staying power and operate in industries that could come back strong when the economy picks up. He believes their valuations got a bit silly in early 2000 and is not overly concerned with the stocks' recent pullback.

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