Oak ValueOAKVX

Morningstar Rating

Fund Research and Analysis

by Gregg Wolper

Oak Value's impressive performance of the past two years rests on a solid foundation.

This fund couldn't dodge the bear market. It lost 33.7% in 2008 and another 18.4% in the first two months of 2009. But its 2008 loss was milder than those suffered Read more

Kudos

In-depth communication with shareholders is a sign of management's commitment to investors.

Disciplined investors with a long-term perspective.

Very experienced managers. Read more

Risks

Concentration--both in number of stocks and number of industries--can magnify the effects of negative performance in particular holdings or sectors.

Significant changes in analyst staff in recent years.

Expense ratio rose sharply in fiscal 2009. Read more

Strategy

The managers look for companies with understandable business models, sustainable cash flows, and strong management teams. But they won't buy such a company unless it's selling at a discount to the team's Read more

Management

Comanager and chief investment officer David Carr is a founder of Oak Value Capital Management and has been a manager of the fund since its inception in 1993. Larry Coats joined the advisor in 1994 and became a comanager in 2003 after several years Read more

Inside Scoop

This fund's managers have very long tenures with the advisor, and they use a concentrated, low-turnover approach. They have a value orientation, but the portfolio typically Read more

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