Anything Goes
Here's a top-performing fund that's got flexibility on its side.
When you don't know which way the wind is blowing on WallStreet, why not go with the flow that flexible funds afford?Flexible funds have the unique ability to invest their assetsanywhere they please among the asset classes. Unlike stock or bondor balanced funds, where prospectuses mandate how much can beinvested in a given asset class, portfolio managers on theseversatile funds have free reign over where and how they invest theshareholders' dollars.
Jim Floyd is one of three portfolio managers on the LeutholdCore Investment Fund (LCORX), one of Lipper's top-performingflexible funds. While the fund is a little pricey-the minimuminvestment is $10,000 for individual accounts-Floyd saysthere's a reason for that. "We're looking for aninvestor who's a little bit more sophisticated, because ourfund is different than most. It's not a specific sector fund ora specific growth or value fund. We can own stocks, bonds, realestate, or most anything that we think has a good risk/rewardprofile."
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