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HighMark Value Momentum Rides Above the Crowd

HighMark Value Momentum's untraditional strategy succeeds in 2001.


After a lackluster 2000, HighMark Value Momentum (HMVMX) has been in the right places so far this year. Its 5% loss through March 15, 2001, doesn't look great in absolute terms, but it's good enough to land the fund in the large-value category's top half. 

Manager Dick Earnest cut the fund's exposure to tech stocks like Cisco Systems (CSCO) late in 2000, because he thought that their earnings momentum was rapidly declining. This move was too late for the fund to miss the Nasdaq carnage of 2000, however. Gains from energy stocks like ExxonMobil (XOM) and financials like Citigroup (C) weren't enough to drag the fund's return above average.

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Catherine Hickey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.