Powerfund Portfolios Performance Review

Powerfund Portfolios Commentary

June 2004 performance review

July 15, 2004
Category: 
Powerfund Portfolios

The Conservative portfolio climbed just over 1% in June. Two of the funds in the portfolio were flat; American Century International Bond didn’t budge, while low risk Vanguard Short Term Corporate moved up less than one tenth of one percent. ...read the rest of this article»

May 2004 performance review

June 16, 2004
Category: 
Powerfund Portfolios

The biggest hit to the portfolio was a 1.6% fall in Vanguard High Yield Corporate (VWEHX) as junk bonds took a beating in May. The fund is down to just 5% of the Conservative portfolio, so the total effect was muted. ...read the rest of this article»

April 2004 performance review

May 20, 2004
Category: 
Powerfund Portfolios

The SSgA Tuckerman Active REIT (SSREX) fund is no longer in this portfolio – we cashed out of funds that invest in REITs (real estate investment trusts) last summer. While we missed some upside in the fund, we also missed last months 15% fall. Given that stocks are more expensive then last year, if REITs fall another 15% or so we may add a small stake again. ...read the rest of this article»

March 2004 performance review

April 16, 2004
Category: 
Powerfund Portfolios

Our recent spring cleaning seemed to help the Conservative portfolio. For the month it was up .29%, which may not sound like much, but given the stock market’s decline and our shorter duration bond holdings we’ll take it with a smile. ...read the rest of this article»

February 2004 performance review

March 17, 2004
Category: 
Powerfund Portfolios

For the conservative portfolio we sold our 5% position in the Northern Income Equity (NOIEX) fund. We originally added this fund in April 2002 and the fund was up 13.5% over that time period. Convertible bonds benefit from upward movements in stock prices as the value of the conversion feature increases. Convertible bonds yield less then comparable risk corporate bonds because of this upside potential. As stock prices are back to fully valued, we think the below average yield will hold back portfolios going forward. ...read the rest of this article»

January 2004 performance review

February 15, 2004
Category: 
Powerfund Portfolios

With a larger equity stake then the safety portfolio, the conservative portfolio was up 1.42% in January. Utility stocks were strong, as they usually are when interest rates fall. The American Century Utility Income fund (BULIX) was up 1.8% for the month. ...read the rest of this article»

December 2003 performance review

January 15, 2004
Category: 
Powerfund Portfolios

In December the Conservative portfolio climbed 3.45% to end the year up 19.2%. More conservative stocks were hot in December, of the ilk found in the Vanguard Dividend Growth fund (VDIGX) – the fund was the best performer in the portfolio, up just over 6%. ...read the rest of this article»

November 2003 performance review

December 15, 2003
Category: 
Powerfund Portfolios

Japan was weak in November as a category, giving back a little of its strong recent gains. The Growth Portfolio’s T. Rowe Price Japan fund was down just under 5%. One question in the great recovery in long downtrodden Japanese equities is this: how well can a primarily export driven society do if our dollar keeps falling making their goods more expensive? ...read the rest of this article»

October 2003 performance review

November 15, 2003
Category: 
Powerfund Portfolios

October was strong for stocks and weak for bonds. The Conservative portfolio was up 1.76%, not bad given its large bond stake. Stocks are just a 30% allocation here, so investors shouldn’t expect big upward movement just because stocks are hot. ...read the rest of this article»

September 2003 performance review

October 3, 2003
Category: 
Powerfund Portfolios

Stocks were down slightly in September while bonds rebounded strongly. The Conservative portfolio, being mostly bonds, was up smartly, logging in a 2.8% gain for the month. Over the last three months the portfolio was up 2.46%, while over the last year it has risen 17.4% ...read the rest of this article»

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