World Class

Diversity pays off for this global fund.
Magazine Contributor
2 min read

This story appears in the January 2004 issue of Entrepreneur. Subscribe »

When Bernie Horn shops for companies to invest in, he doesn't just follow one -he combines a couple of them. As a result, he's got fund performance numbers to crow about.

The Polaris Global Value Fund (PGVFX), managed by Horn, has enjoyed a performance ride for the past few years. As of October 22, 2003, the fund was up 35.3 percent year-to-date. Compare that with the performance of Lipper's average global fund, ahead about 24 percent for 2003, and you get an idea this fund is doing something right.

Horn uses a combination of high-tech quantitative analysis and old-fashioned bottom-up stock picking, combined with his own way of calculating value, to come up with the stocks in the fund's portfolio. A fan of diversification, he says, "We have at least 15 different industries and 15 countries [represented] in the portfolio at any given time."

Another plus for the fund is its low turnover rate: 36 percent, according to Morningstar. Horn doesn't mind holding on to a stock if he thinks it's going to pop. In 2003, he was rewarded for investing in British home-building stocks, which he began doing in 1998.

But, like everything else on , the performance of global funds runs in cycles. And the fund's expense ratio is a little high-1.75 percent per year. That's because this no-load fund currently has only $27 million in assets.

  • Toll-free number: (888) 263-5594

Dian Vujovich is an author, syndicated columnist and publisher of fund investing site www.fundfreebies.com.

loading...

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur