Interesting, and an illustration of the value of value and the cost of overly active management.
Performance has fallen lately as low oil prices hurt ExxonMobil and Chevron. Its returns over the past year were about 12 percent, compared with more than 16 percent for the S&P 500. Still, some professionals say the fund proves the value of staying the course.
“Too many portfolio managers have traded their way out of jobs by constantly changing stock positions and strategies,” said Tim Pettee, investment strategist at SunAmerica Asset Management. He oversees a fund that trades just once a year – a jackrabbit pace compared to Corporate Leaders.