You lost $ b/c there was a mad dash to the exits based on terrible performance for the past four years. Pulling money out by selling caused the fund to sell off holdings which reduced the asset base and triggered the huge capital gain shareholders were burdened with in 2015.
Robert Mohn, Acorn's manager, "departed" this past fall after providing a lousy return and incomprehensible strategy as to why the fund had bought so many different stocks. Read the quarterly reports (on the web site) - the fund's many problems were discussed at length and the new management team's strategy outlined. Key is there is now a team approach versus one manager who drove the fund into the ground. Morningstar has severely cut its rating on Acorn.
Ha ha! Chip drove this dog deeper into the dirt with his lousy bets on Weyerhauser, Covanta and even more energy #$%$. In only 1 year! Shareholders are running out the door - faster than CEO David Barse being kicked out on his kiester with an armed guard escorting him out of the offices. Today's Wall St J front page story describes what a disaster the company and its four funds are. I am so glad to have sold when Chip was hired last year after Ian Lapey hit the bricks.
Obviously, a lot of internal personality turmoil alongside the lousy performance, stock churning of 30%+ and high management fees.
Will Chip be out on the street soon (if not already)? The newl 5 person "Management Group" now running the T.A. clown car after Barse was canned...does not include Rowey as one of the 5.
Don't let the door hit ya on the way out Chipster!
Uh, you might want to read the news. There was a long term cap gain distribution this week of $10+ per share. That had been publicly announced in the 2Q report and was widely reported - including prominently noted on the fund's web site - over the past three months. Columbia gave plenty of advance notice to shareholders of the year end pain due to prior poor performance & large redemptions which forced selling of a number of big positions.