"Has anyone thought of moving onto another fund family? It seems to me that PBHG has lost some of its touch the past year or so."
I don't see it. As of the close on Friday, PBHG's perofrmance for past twelve months:
Core 33.40%
Emer. Growth 27.70%
Growth 24.20%
Large Cap 36.00%
Sel. Equity 40.80%
Tech. & Comm. 78.10%
"Is it time to start investing in Value funds? Vanguard family?"
and
"Other families I'm looking at...Vanguard; though only their indexes"
Index 500 30.80%
Index Value 28.50%
Index Small Cap. 25.10%
PBHG Large Cap is directly comparable to the Index 500. Emerging Growth, Select Equity, and Growth have a mixture of small cap - Mid Cap, with Core Growth more mid cap this time. So a comparison to Average of Small Cap and Index 500 would be more realistic. In any event, PBHG compares favorably. When you consider that most of the money was going into the Blue Chips and "safe" equities during the past year, I think PBHG has done quite well. The only one that appears a little weak is Growth, which has had a great ten year run and is probably getting too big for the small - mid cap issues with which it has succeeded.
The small caps took a beating from June through the end of the year. With the Dow climbing as it has to scary levels, the continued influx of funds into the markets, particulary through May (IRAs, 401Ks), will start to look for a place in undervalued stocks and/or those offering growth potential. These are the type that PBGH holds in many of their funds. You can't judge things over a six-month period. These funds are for long term investing. There will be peaks, and there will be valleys. It's over the long haul that matters.
For the record, I have 50% in Limited, 25% in Core Growth, and 25% in Tech and Communication. Limited, by the way, is up an annualized rate of 20% since its inception on 7/1/96. Not bad when that was at the exact point that small caps started to get pounded, a trend that continued through the end of the year. |
