Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Comverse Technology -- Ignore unavailable to you. Want to Upgrade?

To: Mark Ambrose who wrote (1276)	1/5/2001 2:10:06 PM
From: Mark Ambrose	Read Replies (2) \| Respond to of 1331

Montgomery Growth Fund owns some CMVT. biz.yahoo.com Thursday January 4, 5:08 pm Eastern Time Morningstar.com Montgomery Growth Fund Gets a Makeover By Michael Gaul There have been plenty of changes at Montgomery Growth Fund (Nasdaq: MNGFX - news) lately. New manager Andy Pratt took over in June 2000 and remodeled the fund. He has sold almost all of the fund's small- and mid-cap stocks and moved into market giants. Gone are the relatively large stakes in industrials and durables, replaced by a good slug of technology. Top holdings now include General Electric (NYSE: GE - news) and Cisco Systems (Nasdaq: CSCO - news). With the fund under construction, performance during this period is not too illuminating. For what it's worth, though, from June 1, 2000 through December 29, 2000, the fund's 12% loss was four percentage points worse than the S&P 500 index's. According to Pratt, in the second half of the year, an overweighting in financials, as well as some good picks in the sector, helped performance relative to the bogy. So did tech holdings such as Comverse Technologies (Nasdaq: CMVT - news), Automatic Data Processing (NYSENYSE: ADP), and Qualcomm (Nasdaq: QCOM - news) and an underweight in telecom services. Compared with the index, the fund didn't hold many consumer-staple, utilities, or health-care stocks during that period, and that hurt relative returns (the fund has bulked up its health-care stake recently, however). Also, the staples and utilities stocks it did own, including a sizable position in Enron (NYSE: ENE - news), performed poorly versus those in the index.