However, an area of strength for the firm is that they've delivered strong risk-adjusted returns for shareholders, with an average five-year Morningstar Rating of 4.3 stars across its open-end and exchange-traded products. The metric measures the risk-adjusted performance of an asset manager's currently live funds. With an average tenure of eight years among the longest-tenured managers at Howard CM, the firm is on par with peers. Seasoned teams tend to have more experience to draw upon should they need to weather turbulent market conditions. Howard CM open-end and exchange-traded products are priced, on average, among the most expensive quintile of similarly distributed strategies. This higher expense profile of its funds creates a larger performance hurdle and contributes negatively to Howard CM's rating.
Where Primecap Management Got Its Start
Longtime fund managers Joel Fried and Al Mordecai tell the firm’s storied history.