I read glowing articles about MAIRS power and growth several years back , all the financial stats looked rock solid,etc. so I decided to open an IRA with this fund.
Obvuously, I was looking for a LOMG Term investment.
I opened the fund in May,2006 and have watched it go up and down - mostly down.
So now that I have passed the three year mark on this fund, I decided to take a hard look at it's performance.
It has performed an earth shaterring return on investrment of -14.25% over the past 3 yea's and 3 months!
Since it is an IRA, where the funding came from my 401K, I can not touch this without incurring all sorts of penalty fees.
Like the Groundhog, 3 years from now, I will re-apear and repeort on the performance of this fund.
Meanwhile, do youself a favor and treat this fund like the H1N1 bug
Mellotron Just voted fund of the year. Complaining about performance over the 2008 period? This fund lost less than most. If you want risk free get a CD from your local bank paying .01%. Want a solid long term fund, this is it. I don't understand the inability to sell in an IRA. Overall I would say you need financial assistance/education.
It's timing. Started in may 2004 and am up over 50%. At one point or more during last 9 years I was under water. Such is investing. Add on the down turns if your long term. Really, yours is a very bad way to view investing.
I've got to reply. These funds are for long term investors, not short term. ie: I put in 10K in 1987, watched it grow to over 400K in 1998, and with the exception of cashing in 115K (for a new car), it is now worth almost 300K. I think that isn't too shabby, yes?
Congrats on your patience shubmsp. My oldest holding is Fidelity Contrafund I bought in the mid eighties. Not sure what my return is since I have bought more over the years and done numerous rebalancings.
Did you include the $9+ you have received in dividends in your calculation? Granted the past few years have been lean, but so has the entire market. I would like to know what else you are invested in that is better performing. I know it is not real estate, it must be gold.
Its not the fund, its the holdings. And if you look at the general market over these last 3 years, everything has experienced a deflationary slide. I also own MPGFX and also bought about three years ago. My 100k is now worth about 92, with dividends reinvested. But the monies I have elsewhere, say directly in stocks, have done worse. My 'new normal' outlook is I am glad MPGFX is worth 92 and not 62, like some of my great direct equity investments are...
I believe he did include dividends. At least, his overall percentage of loss for the last three years corresponds to the percentage I calculated when I used the "corrected for dividends" historical price as the base price. I don't doubt the nasty losses for the past three years. 2008 and the winter of 2009 were particularly brutal. But the universe of stock funds has suffered greatly. A lot of outstanding funds did worse, some much worse. M & P is rated 4-star by Morningstar.
If it's in an IRA, then you should be able to make a tax penalty-free transfer to an IRA with another custodian. Fees depend on the policies of the custodians.
You have included a period during which a truly awful bear market wiped out a lot of assets. You say it is the worst item in your portfolio. My cash and cash equivalent assets have done very well over the last couple of years. All of my funds are down a lot. I saw the same articles and opened my M & P account at about the same time. I anticipate that better days will see better results.