(PUB) Investing 2015

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PIMCO Pulls the Plug on Pathfinder Changes to the 500 | Russel Kinnel

turn things around, and the fund’s asset base has shrunk considerably. K

Summary of Changes Add

Drop

Artisan Global Opportunities

PIMCO EqS Pathfinder

BBH Global Core Select

Third Avenue Int’l Value

As I mentioned in News, PIMCO is liquidating three funds, including PIMCO EqS Pathfinder PTHDX , in light of poor performance and low asset levels.

What is Morningstar FundInvestor 500 ? The Morningstar FundInvestor 500 features the industry’s best and most notable funds. Use the list to get new in- vestment ideas and track the funds you already own. FundInvestor subscribers have access to one-page monthly reports on all 500 funds on mfi.morningstar.com. Just type in the name or ticker of the fund in the search box.

Rating Change (downgrades)

To

From

´ •

Columbia Acorn Int’l Select A

´ •

Eaton Vance Floating Rate A

I’m dropping PIMCO EqS Pathfinder from the Morningstar 500 .

FPA Capital ´ • Loomis Sayles Global Bond Retail ´ •

Artisan Global Opportunities Joins the M500 Artisan Global Opportunities ARTRX is joining the Morningstar 500 . The fund, which has a Morningstar Analyst Rating of Silver, plies a growth- oriented strategy that you may know from Artisan Mid Cap ARTMX . Although team leader Andy Stephens stepped down last year, we have maintained our Silver rating because we have faith in Jim Hamel, who has been the lead manager since the fund’s 2008 inception. Hamel runs a focused portfolio that is heavy in tech and biotech. See the facing page for more details. BBH Global Core Select Goes In You may be familiar with the outstanding BBH Core Select BBTEX led by Tim Hartch. A couple of years ago, the firm launched BBH Global Core Select BBGNX , also run by Hartch. At BBH Core Select, he’s built a great nine-year record by finding quality companies at low prices. That effort was so successful that BBH closed the fund to new investors. So, I’m intrigued by this way for new investors to tap Hartch and team’s stock-picking. The fund has a decent 1 . 25% expense ratio and $140 million in assets. Third Avenue International Value Goes Out We’ve dropped coverage of this former standout. Third Avenue International Value TAVIX once had great performance under former manager Amit Wadhwaney, but then it hit a slump and Wadhwaney left. Matthew Fine hasn’t been able to

Rating Change

To

From

ˆ ´

Columbia Acorn USA Z

ˆ ‰

Columbia Acorn Select Z

ˆ ‰

Columbia Acorn Z