Powerfund Portfolios Performance Review

Powerfund Portfolios Commentary

February 2003 performance review

March 15, 2003
Category: 
Powerfund Portfolios

The Conservative portfolio was almost completely flat in February. The positive action was again from bond funds. Bonds were strong on investor's fear of war and stocks across the board, with the portfolio's high yield, foreign, and investment grade U.S. bond funds all up over 1%. ...read the rest of this article»

January 2003 performance review

February 15, 2003
Category: 
Powerfund Portfolios

The conservative portfolio was down 0.20% for the month of January. The standout again was the American Century International bond fund (BEGBX) up 2.87% for the month. Remember two months when we said the dollar was about to start working in the favor of international investments again? We're still considering lightening up a bit on our foreign bond positions or moving to a hedged bond fund. ...read the rest of this article»

December 2002 performance review

January 15, 2003
Category: 
Powerfund Portfolios

The conservative portfolio was up 1.14% for the month of December, but the positive action was mostly from bond funds this month. The standout was the American Century International bond fund (BEGBX) up an astounding 6.52% for the month. Remember last month when we said the dollar was about to start working in the favor of international investments again? Basically 85% of that return was the result of the US dollar falling. ...read the rest of this article»

November 2002 performance review

December 15, 2002
Category: 
Powerfund Portfolios

The conservative portfolio was up 2.6% for the month of November, but the positive action was mostly from stock funds in the portfolio, currently 50% of the total after recent increases in its equity allocation. While we felt weakness in stocks have created opportunities for risk averse investors, and we were hesitant to stay in near-zero yield cash positions, we were a bit premature in these moves. ...read the rest of this article»

October 2002 performance review

November 15, 2002
Category: 
Powerfund Portfolios

The conservative portfolio was up just under 1% for the month of October. The positive action was mostly from the portfolio's stock funds, not the larger bond position, which was flat for the month. ...read the rest of this article»

September 2002 performance review

October 15, 2002
Category: 
Powerfund Portfolios

The conservative portfolio continues being our best performing portfolio, which is how you'd want a safe portfolio to do in a down market. Dragging it down are weak performance in the few stock funds in the portfolio. We are concerned about the future of bonds given that we see little room for rates to go anywhere but up from these levels. ...read the rest of this article»

August 2002 performance review

September 15, 2002
Category: 
Powerfund Portfolios

We recently shifted some of our money market allocation in this fund into the very beaten down Vanguard Utilities Income fund. The fund rallied up, then promptly fee in recent market weakness. So far October looks strong for the fund. ...read the rest of this article»

July 2002 performance review

August 15, 2002
Category: 
Powerfund Portfolios

While we were very big on bonds 2 years ago when we first started designing allocation portfolios, we are less enthusiastic today. Bonds have had strong returns in the last two years as interest rates have come down across the board. We feel we are at the bottom of an interest rate cycle. ...read the rest of this article»

June 2002 performance review

July 15, 2002
Category: 
Powerfund Portfolios

We've cut back on funds that invest in REITs (real estate investment trusts) compared to our allocations of a couple years ago, as they have had a very good run-up in price since then. We feel the real estate market is long overdue for a correction. ...read the rest of this article»

May 2002 performance review

June 15, 2002
Category: 
Powerfund Portfolios

Our other value stock pick besides the strong fund is the American Century Equity Income fund. We liked this fund a heck of a lot more a year ago, before it was flooded with new investor assets, but the fund still has some room to grow before it really begins to suffer. We're watching two things right now: asset levels and performance. If this fund breaks about $1.3 billion or so, or if we start seeing a slide in performance, we'll move into one of our backup choices. ...read the rest of this article»

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