Five Reopened Funds You May Have Overlooked
Whether you're looking for an upgrade or a new addition to your portfolio, these funds get a green light.
Since January 2008, roughly 90 mutual funds have reopened. Some reopenings got more fanfare than others, including Sequoia's (SEQUX) May 2008 announcement that it would admit new investors for the first time in 25 years. Small-cap funds, whose relatively little asset bases have shrunk during the sell-off dominate the list. There also are a lot of international equity funds, particularly those that invest in hard-hit foreign small-cap and emerging-markets stocks.
We've rounded up some of the better reopened funds that may have flown under your radar. Some of them have ugly recent records, but strong long-term fundamentals. And last year's market losses haven't been all bad. They've allowed the funds to book losses that they can use to offset taxable capital gains for years to come. Below we highlight five recently reopened funds worth considering that also have deeply negative potential capital gains exposures, which means they should be very tax efficient in the future.
|Potential Cap Gains Exposure|
|Artisan Mid Cap Value (ARTQX)||Mid-Cap Value||-61|
|Calamos Convertible (CCIVX)||Convertibles||-23|
|FMI Common Stock (FMIMX)||Mid-Cap Blend||-49|
|Schneider Sm Cap Value (SCMVX)||Small Value||-144|
|Williams Blair Int Growth (WBIGX)||For. Large Growth||-113|
|As of 03-18-2009.|
Karin Anderson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.